Citigroup sees Coupang subscription price hike as 'highly profitable' [Seeking Alpha]
Coupang, Inc. Class A (CPNG)
Company Research
Source: Seeking Alpha
As the increase will raise revenue without generating additional costs, Citigroup expects an impact to adjusted EBITDA of $160M in 2024 and $410M in 2025. Accordingly, Citigroup upgraded Coupang ( CPNG ) to Buy from Neutral and hiked its price target by 37% to $26. Although the higher subscription cost could result in customer cancellations, Citigroup thinks this is limited, if not unlikely as Coupang ( CPNG ) offers subscribers unlimited same-day, or one-day, deliveries, and a 10% discount on food delivery and video streaming services. The higher subscription fee coupled with the company's FarFetch consolidation P&L in Q1 prompts Citigroup to raise their revenue estimates by 5-6% for 2024 and 2025 and adjusted EBITDA by 12-19%. Analyst are largely bullish on Coupang ( CPNG ) with Seeking Alpha authors and Wall Street analysts rating the stock as a Buy , while Seeking Alpha's Quant Rating views Coupang ( CPNG ) with a Hold. Coupang ( CPNG ) shares are up 2% in Monday's prema
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CPNG
News
- Coupang, Inc. (CPNG) Stock Sinks As Market Gains: Here's Why [Yahoo! Finance]Yahoo! Finance
- 1 Spectacular Growth Stock Down 56% to Buy Hand Over Fist [Yahoo! Finance]Yahoo! Finance
- Coupang to Announce First Quarter 2024 Results on May 7, 2024Business Wire
- Is Coupang, Inc. (NYSE:CPNG) Trading At A 32% Discount? [Yahoo! Finance]Yahoo! Finance
- Making Sense of Amazon CEO Andy Jassy's Latest Letter [Yahoo! Finance]Yahoo! Finance
CPNG
Earnings
- 2/27/24 - Beat
CPNG
Sec Filings
- 4/26/24 - Form DEF
- 4/26/24 - Form ARS
- 4/26/24 - Form DEFA14A
- CPNG's page on the SEC website