Coupang (NYSE:CPNG) Price Target Cut to $28.00 by Analysts at Citigroup

Coupang (NYSE:CPNG) had its target price cut by analysts at Citigroup from $31.00 to $28.00 in a note issued to investors on Wednesday,Benzinga reports. The firm presently has a “buy” rating on the stock. Citigroup’s price target would indicate a potential upside of 25.50% from the company’s previous close.

Separately, Sanford C. Bernstein upgraded shares of Coupang from an “underperform” rating to an “outperform” rating and set a $30.00 price target on the stock in a research report on Monday, October 7th. One research analyst has rated the stock with a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $27.56.

Coupang Price Performance

Shares of NYSE:CPNG traded down $0.44 during trading on Wednesday, reaching $22.31. The company had a trading volume of 4,852,430 shares, compared to its average volume of 6,421,507. The company has a fifty day moving average of $24.00 and a two-hundred day moving average of $23.26. The company has a current ratio of 1.13, a quick ratio of 0.86 and a debt-to-equity ratio of 0.28. The stock has a market capitalization of $40.13 billion, a P/E ratio of 39.14, a price-to-earnings-growth ratio of 215.03 and a beta of 1.10. Coupang has a 12 month low of $13.51 and a 12 month high of $26.91.

Coupang (NYSE:CPNG) last released its quarterly earnings results on Tuesday, November 5th. The company reported $0.06 earnings per share for the quarter, beating analysts’ consensus estimates of $0.01 by $0.05. Coupang had a return on equity of 11.52% and a net margin of 3.57%. The business had revenue of $7.87 billion for the quarter, compared to the consensus estimate of $7.76 billion. During the same quarter last year, the business posted $0.05 earnings per share. The company’s revenue for the quarter was up 27.2% on a year-over-year basis. Equities research analysts forecast that Coupang will post 0.11 earnings per share for the current year.

Insider Activity at Coupang

In other Coupang news, Director Greenoaks Capital Partners Llc acquired 687,700 shares of the company’s stock in a transaction on Monday, November 11th. The stock was acquired at an average price of $24.08 per share, for a total transaction of $16,559,816.00. Following the acquisition, the director now owns 52,726,423 shares in the company, valued at $1,269,652,265.84. This represents a 1.32 % increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CEO Bom Kim sold 15,000,000 shares of the business’s stock in a transaction that occurred on Monday, November 11th. The shares were sold at an average price of $22.97, for a total value of $344,550,000.00. Following the transaction, the chief executive officer now directly owns 2,000,000 shares in the company, valued at $45,940,000. This trade represents a 88.24 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 13.60% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Coupang

A number of large investors have recently modified their holdings of the stock. Brooklyn Investment Group purchased a new stake in Coupang in the third quarter worth about $28,000. Asset Dedication LLC boosted its position in shares of Coupang by 438.1% during the third quarter. Asset Dedication LLC now owns 1,216 shares of the company’s stock valued at $30,000 after purchasing an additional 990 shares in the last quarter. Van ECK Associates Corp grew its stake in Coupang by 63.1% in the third quarter. Van ECK Associates Corp now owns 1,251 shares of the company’s stock worth $32,000 after purchasing an additional 484 shares during the period. Wolff Wiese Magana LLC raised its holdings in Coupang by 330.4% in the third quarter. Wolff Wiese Magana LLC now owns 1,687 shares of the company’s stock worth $41,000 after purchasing an additional 1,295 shares in the last quarter. Finally, Signaturefd LLC boosted its holdings in shares of Coupang by 438.9% during the 3rd quarter. Signaturefd LLC now owns 2,371 shares of the company’s stock valued at $58,000 after buying an additional 1,931 shares in the last quarter. Institutional investors own 83.72% of the company’s stock.

About Coupang

Coupang, Inc, together with its subsidiaries owns and operates retail business through its mobile applications and Internet websites primarily in South Korea. The company operates through Product Commerce and Developing Offerings segments. It sells various products and services in the categories of home goods and décor products, apparel, beauty products, fresh food and groceries, sporting goods, electronics, and everyday consumables, as well as travel, and restaurant order and delivery services.