CPNG - 1 Wall Street Analyst Thinks Coupang Stock Is Going to $32. Is It a Buy Around $22?
2024-05-16 09:20:12 ET
After reporting earnings on May 7, shares of South Korean e-commerce juggernaut Coupang (NYSE: CPNG) dropped by more than 10% in a single day. Missing consensus earnings-per-share (EPS) estimates by one penny, Coupang spooked the market, bringing in a mere $5 million in net income versus $7.1 billion in sales.
However, underneath these headline figures hide a number of reasons for optimism, prompting Barclays analyst Jiong Shao to raise his price target from $25 to $32, implying around 41% upside in the company's shares over the next year or so.
Here's what those hidden figures show us and why I believe Shao could be proven correct .
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1 Wall Street Analyst Thinks Coupang Stock Is Going to $32. Is It a Buy Around $22?