© Reuters. Coupang (CPNG) Shares Surge on Higher Than Feared Loss, Citi Upgrades to Purchase
Shares of Coupang LLC (NYSE:) are up greater than 12.5% in premarket buying and selling after beating expectations on the Q1 loss per share report.
CPNG reported a loss per share of 12c within the , in comparison with a loss per share of 68c within the year-ago interval, and narrower than the estimated loss per share of 28c. Web income stood at $5.12 billion within the interval, up 22% YoY and beneath the analyst consensus of $5.27 billion.
Coupang reported an working lack of $205.7 million, down 23% YoY.
Citi analyst John Yu upgraded to Purchase from Impartial on larger visibility.
“With larger visibility in near-term revenue, we consider it’s time to take into account CPNG’s potential for attaining long-term steerage of seven~10% adj. EBITDA margin. We anticipate the low-end 7% to be achieved in 5 years,” Yu commented.
Mizuho analyst James Lee lowered the worth goal to $18.00 per share from $28.00 on “higher than feared outcomes.”
“Though we’re inspired by the disciplined funding, we’re involved concerning the inflationary influence on client spending and blend shift to the service trade. In consequence, we diminished our FY25 income estimate by 12% to $32bn and EBITDA estimate by 21% to $2.2bn… We consider the inventory lacks catalysts, given its premium valuation to world friends, and ongoing aggressive considerations,” Lee wrote in a word.
By Senad Karaahmetovic
