Investing

Earnings Previews: Bakkt, Coupang, Disney, Rivian

That same analyst has forecast first-quarter revenue of $13.6 million and a per-share loss of $0.17. For the full 2022 fiscal year, the analyst has forecast a loss per share of $0.75 on sales of $72.3 million. In 2021, Bakkt reported sales of $39.47 million.

The stock’s 52-week range is $2.69 to $50.80. The average daily trading volume is around 5.4 million shares.

Coupang

South Korean e-commerce giant, Coupang Inc. (NYSE: CPNG) has seen its share price drop by about 73% in the past 12 months. The company has to figure out how to grow in a more competitive landscape without spending so much cash. This may not be a dead business, and it may not even be on life support, but Coupang has to come up with a get-well plan and not just hope for a miracle.

Of 11 analysts covering the stock, eight have a Buy or Strong Buy rating and the other three have Hold ratings. At a share price of around $10.40, the upside potential based on a median price target of $28.00 is 169%. At the high target of $37.00, the upside potential on the stock is 256%.

The consensus estimate for first-quarter revenue is $5.25 billion, up 3.4% sequentially and nearly 25% year over year. Coupang is also expected to post an adjusted loss per share of $0.17, better than the prior quarter’s loss of $0.23 per share. For the full 2022 fiscal year, the adjusted loss per share is expected to be $0.52 compared to a loss of $0.88 per share last year. Sales of $23.04 billion would beat last year’s total by 25.2%.

Coupang is not expected to post a profit in 2022 or 2023. The stock trades at a 2024 sales to enterprise value multiple of 287.4 times. The stock’s 52-week range is $9.08 to $46.00. Coupang does not pay a dividend. Total shareholder return for the past year is negative 72.2%.

Disney

Walt Disney Co. (NYSE: DIS) continues to suffer through a tough year. Over the past 12 months, the Dow Jones industrial average component has posted a share price decline of nearly 42%. That is double its 21% decline for the 12 months ended last December. Investors will be focused on the company’s streaming business following the Netflix disaster. Disney’s theme park business is recovering but still trails its pre-pandemic revenue by about 65%.

In the streaming business, analysts are looking for subscriber additions of 5.3 million and about double that number for the current quarter. The company’s goal is 230 million to 260 million total subscribers by September 2024, and if it hits the analysts’ target for the March quarter, Disney will be slightly more than halfway there.

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