CPNG - Coupang swings lower on investor concerns over profitability

2023-05-10 15:39:45 ET

Coupang ( NYSE: CPNG ) traded lower on Wednesday after investors digested the Q1 earnings report .

The South Korean e-commerce player reported revenue was up 13% on a reported basis on Q1 and up 20% on a FX-neutral basis. Active customers were up 5% to 19.01M, while net revenue per active customer improved 8% to $305.

Coupang ( CPNG ) hit a financial milesone in Q1 after it generated positive free cash flow of $451M on a trailing twelve-month basis.

Following the report, Bank of America reiterated a Neutral rating on Coupang ( CPNG ). Analyst Susie Lee and team think Coupang ( CPNG ) is still one of the better placed Asian e-commerce companies for the longer term, but think the company may struggle to balance growth and profitability in the near term.

More on Coupang:

• Coupang's New Eats Program Is Positive
• Read the latest breakdowns on Coupang from Seeking Alpha analysts
• View the growth metrics
• See the financial and valuation comparisons to sector peers
• Dig into the Seeking Alpha Quant Rating

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