Shares of Luckin Coffee Inc. Sponsored ADR (OTCMKTS:LKNCY – Get Free Report) gapped up before the market opened on Tuesday after the company announced better than expected quarterly earnings. The stock had previously closed at $31.20, but opened at $32.90. Luckin Coffee shares last traded at $33.20, with a volume of 781,481 shares traded.
The company reported $0.89 earnings per share for the quarter, topping analysts’ consensus estimates of $0.83 by $0.06. Luckin Coffee had a return on equity of 24.91% and a net margin of 6.78%.
Wall Street Analyst Weigh In
Several research firms have weighed in on LKNCY. BNP Paribas Exane upgraded shares of Luckin Coffee to an “outperform” rating and set a $48.00 price objective on the stock in a research report on Tuesday, September 15th. Zacks Research lowered shares of Luckin Coffee from a “strong-buy” rating to a “hold” rating in a research report on Monday, October 5th. Two investment analysts have rated the stock with a Strong Buy rating, one has issued a Buy rating and one has given a Hold rating to the company. Based on data from MarketBeat, the stock has an average rating of “Buy” and an average price target of $46.87.
Get Our Latest Analysis on LKNCY
Luckin Coffee Stock Performance
The firm’s 50-day simple moving average is $33.68 and its 200 day simple moving average is $33.47. The stock has a market capitalization of $9.52 billion, a P/E ratio of 19.76, a PEG ratio of 0.46 and a beta of -0.34.
Luckin Coffee Company Profile
Luckin Coffee Inc is a China-based coffeehouse operator that sells freshly prepared coffee, tea-based beverages, fruit drinks and light food. Its menu includes espresso-based drinks, cold beverages, snacks and seasonal products, with orders placed primarily through its mobile application and fulfilled through company-operated locations and delivery or pickup services.
Founded in 2017, Luckin Coffee built its business around a technology-focused, convenience-oriented model that emphasizes mobile ordering, digitally managed stores and delivery.
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