Yahoo Finance Coupang (CPNG) Soars 11.5%: Is Further Upside Left in the Stock?
Coupang, Inc. (CPNG) shares soared 11.5% in the last trading session to close at $21.25. The move was backed by solid volume with far more shares changing hands than in a normal session. This compares to the stock's 3% gain over the past four weeks.
Coupang extended its rally, driven by its latest plan to increase the monthly price of its Wow membership program.
This company is expected to post quarterly earnings of $0.06 per share in its upcoming report, which represents a year-over-year change of +20%. Revenues are expected to be $6.57 billion, up 13.3% from the year-ago quarter.
Earnings and revenue growth expectations certainly give a good sense of the potential strength in a stock, but empirical research shows that trends in earnings estimate revisions are strongly correlated with near-term stock price movements.
For Coupang, the consensus EPS estimate for the quarter has been revised 6.7% higher over the last 30 days to the current level. And a positive trend in earnings estimate revision usually translates into price appreciation. So, make sure to keep an eye on CPNG going forward to see if this recent jump can turn into more strength down the road.
The stock currently carries a Zacks Rank #3 (Hold). You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>
Coupang belongs to the Zacks Internet - Commerce industry. Another stock from the same industry, Travelzoo (TZOO), closed the last trading session 4.2% lower at $9.16. Over the past month, TZOO has returned -4.2%.
Travelzoo's consensus EPS estimate for the upcoming report has remained unchanged over the past month at $0.29. Compared to the company's year-ago EPS, this represents a change of +26.1%. Travelzoo currently boasts a Zacks Rank of #3 (Hold).
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