Coupang, Inc. (NYSE:CPNG) Given Average Rating of “Hold” by Brokerages
by Danessa Lincoln · The Markets DailyShares of Coupang, Inc. (NYSE:CPNG – Get Free Report) have been assigned an average recommendation of “Hold” from the eleven brokerages that are presently covering the company, MarketBeat Ratings reports. Two investment analysts have rated the stock with a sell recommendation, three have assigned a hold recommendation and six have issued a buy recommendation on the company. The average twelve-month target price among brokerages that have covered the stock in the last year is $26.70.
Several equities analysts have issued reports on CPNG shares. Deutsche Bank Aktiengesellschaft upgraded Coupang from a “hold” rating to a “buy” rating and set a $25.00 target price on the stock in a research note on Friday, January 16th. Morgan Stanley cut their target price on Coupang from $31.00 to $29.00 and set an “overweight” rating on the stock in a research note on Monday, March 2nd. UBS Group set a $25.00 target price on Coupang in a research note on Thursday, February 19th. Weiss Ratings lowered Coupang from a “hold (c)” rating to a “sell (d+)” rating in a research note on Monday, March 2nd. Finally, Barclays lifted their target price on Coupang from $23.00 to $24.00 and gave the company an “overweight” rating in a research note on Monday, March 2nd.
Check Out Our Latest Report on Coupang
Insider Transactions at Coupang
In related news, Director Neil Mehta bought 3,000,000 shares of the business’s stock in a transaction on Thursday, March 12th. The shares were bought at an average price of $18.68 per share, for a total transaction of $56,040,000.00. Following the completion of the purchase, the director directly owned 52,978,114 shares of the company’s stock, valued at approximately $989,631,169.52. This trade represents a 6.00% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders bought a total of 7,350,104 shares of company stock valued at $136,566,051 in the last 90 days. 12.78% of the stock is owned by insiders.
Hedge Funds Weigh In On Coupang
Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Sunbelt Securities Inc. purchased a new position in Coupang in the third quarter valued at about $26,000. Reflection Asset Management purchased a new stake in shares of Coupang during the fourth quarter worth about $28,000. Orion Capital Management LLC purchased a new stake in shares of Coupang during the third quarter worth about $32,000. Hilltop National Bank purchased a new stake in shares of Coupang during the third quarter worth about $34,000. Finally, Fifth Third Bancorp grew its stake in shares of Coupang by 1,250.0% during the third quarter. Fifth Third Bancorp now owns 1,080 shares of the company’s stock worth $35,000 after acquiring an additional 1,000 shares during the last quarter. Hedge funds and other institutional investors own 83.72% of the company’s stock.
Coupang Stock Performance
Shares of Coupang stock opened at $19.19 on Friday. The firm has a market cap of $35.08 billion, a P/E ratio of 159.91 and a beta of 1.16. The company has a current ratio of 1.04, a quick ratio of 0.79 and a debt-to-equity ratio of 0.14. Coupang has a 12 month low of $16.74 and a 12 month high of $34.08. The stock’s fifty day moving average price is $18.82 and its 200-day moving average price is $24.29.
Coupang (NYSE:CPNG – Get Free Report) last announced its quarterly earnings results on Thursday, February 26th. The company reported ($0.01) EPS for the quarter, missing the consensus estimate of $0.02 by ($0.03). Coupang had a net margin of 0.60% and a return on equity of 4.52%. The firm had revenue of $8.84 billion for the quarter, compared to analysts’ expectations of $9.12 billion. During the same quarter in the prior year, the business posted $0.04 EPS. The business’s quarterly revenue was up 10.9% on a year-over-year basis. On average, equities research analysts expect that Coupang will post 0.17 earnings per share for the current fiscal year.
Coupang Company Profile
Coupang, listed on the New York Stock Exchange under the ticker CPNG, is a South Korean e-commerce company headquartered in Seoul. Founded in 2010 by Bom Kim, the company grew rapidly by combining an online marketplace with a large direct-retail business model. Coupang completed a primary listing in the United States in 2021, and it has become one of South Korea’s leading online retailers by focusing on convenience, speed and a wide product assortment across consumer categories.
The company operates a vertically integrated e-commerce platform that includes a customer-facing marketplace and an extensive logistics and fulfillment network.