Coupang (NYSE:CPNG) PT Raised to $28.00 at Citigroup

Coupang (NYSE:CPNG) had its target price increased by stock analysts at Citigroup from $26.00 to $28.00 in a research note issued to investors on Wednesday, Benzinga reports. The brokerage presently has a “buy” rating on the stock. Citigroup’s price objective would indicate a potential upside of 29.87% from the company’s current price.

Several other equities analysts also recently commented on CPNG. Barclays increased their price target on Coupang from $24.00 to $25.00 and gave the company an “overweight” rating in a report on Thursday, February 29th. Mizuho boosted their target price on shares of Coupang from $20.00 to $23.00 and gave the stock a “neutral” rating in a research report on Wednesday. Bank of America initiated coverage on shares of Coupang in a research note on Friday, May 3rd. They set a “buy” rating and a $30.00 target price for the company. Deutsche Bank Aktiengesellschaft upgraded Coupang from a “hold” rating to a “buy” rating and boosted their price target for the company from $18.50 to $21.00 in a research note on Thursday, February 29th. Finally, TheStreet raised Coupang from a “d+” rating to a “c-” rating in a research report on Tuesday, March 5th. Two investment analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $24.25.

Coupang Stock Down 8.8 %

CPNG stock traded down $2.09 during mid-day trading on Wednesday, hitting $21.56. The stock had a trading volume of 28,782,587 shares, compared to its average volume of 13,334,394. The company has a fifty day moving average of $19.91 and a 200 day moving average of $17.24. Coupang has a 1-year low of $13.51 and a 1-year high of $23.77. The stock has a market capitalization of $38.66 billion, a price-to-earnings ratio of 28.71, a PEG ratio of 19.21 and a beta of 1.13. The company has a current ratio of 1.14, a quick ratio of 0.90 and a debt-to-equity ratio of 0.13.

Coupang (NYSE:CPNG) last released its quarterly earnings data on Tuesday, May 7th. The company reported $0.05 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.06 by ($0.01). Coupang had a net margin of 5.57% and a return on equity of 15.04%. The business had revenue of $7.11 billion during the quarter, compared to analyst estimates of $6.95 billion. During the same period in the previous year, the firm posted $0.05 EPS. The firm’s revenue for the quarter was up 22.6% on a year-over-year basis. On average, equities analysts expect that Coupang will post 0.35 EPS for the current fiscal year.

Insider Activity

In other Coupang news, major shareholder Svf Investments (Uk) Ltd sold 31,614,154 shares of the business’s stock in a transaction dated Tuesday, March 12th. The shares were sold at an average price of $19.01, for a total value of $600,985,067.54. Following the transaction, the insider now directly owns 364,542,259 shares in the company, valued at $6,929,948,343.59. The transaction was disclosed in a document filed with the SEC, which is available through this link. In other news, major shareholder Svf Investments (Uk) Ltd sold 31,614,154 shares of the stock in a transaction on Tuesday, March 12th. The stock was sold at an average price of $19.01, for a total transaction of $600,985,067.54. Following the sale, the insider now owns 364,542,259 shares in the company, valued at $6,929,948,343.59. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Neil Mehta sold 1,600,000 shares of the firm’s stock in a transaction on Thursday, March 14th. The shares were sold at an average price of $18.68, for a total value of $29,888,000.00. Following the completion of the sale, the director now owns 48,006,135 shares of the company’s stock, valued at $896,754,601.80. The disclosure for this sale can be found here. In the last quarter, insiders have sold 33,355,282 shares of company stock worth $633,457,030. Corporate insiders own 14.90% of the company’s stock.

Institutional Trading of Coupang

Several hedge funds have recently modified their holdings of CPNG. Global Retirement Partners LLC boosted its stake in shares of Coupang by 135.8% in the 1st quarter. Global Retirement Partners LLC now owns 1,436 shares of the company’s stock valued at $26,000 after purchasing an additional 827 shares during the last quarter. Headinvest LLC bought a new stake in shares of Coupang during the third quarter worth $29,000. Register Financial Advisors LLC bought a new stake in shares of Coupang in the first quarter valued at about $50,000. NBC Securities Inc. bought a new stake in Coupang in the 3rd quarter valued at approximately $51,000. Finally, Nomura Asset Management Co. Ltd. boosted its holdings in Coupang by 27.2% during the fourth quarter. Nomura Asset Management Co. Ltd. now owns 8,528 shares of the company’s stock worth $138,000 after purchasing an additional 1,821 shares during the last quarter. 83.72% of the stock is owned by institutional investors.

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.