- The shares of Coupang Inc (NYSE: CPNG) have received a price target decrease from $50 to $40 by Mizuho. These are the details.
The shares of Coupang Inc (NYSE: CPNG) have received a price target decrease from $50 to $40 by Mizuho. And Mizuho analyst James Lee is maintaining a “Neutral” rating on the company shares.
Lee noted that Coupang had reported a solid quarter, but the EBITDA losses will likely become wider due to investments into the grocery shift.
In the company’s first quarter earnings report as a public company, Coupang said it hit 16 million active customers — which is up 21% from the previous year. And the net revenue per active customer increased 44% at $262.
The net revenue increased 74% at $4.21 billion. The first quarter losses widened to $295 million.
—”Due to the company’s aggressive investment in fulfillment and a mix shift to grocery, we expect 2Q21 EBITDA losses to be larger than 1Q at -$159m, compared to our prior estimate of -$79m,” said Mizuho in a research report via MarketWatch.
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