Coupang, Inc. (NYSE:CPNG) Receives Average Recommendation of “Hold” from Brokerages

Shares of Coupang, Inc. (NYSE:CPNGGet Free Report) have earned a consensus recommendation of “Hold” from the twelve brokerages that are currently covering the company, MarketBeat reports. Two equities research analysts have rated the stock with a sell rating, four have assigned a hold rating and six have assigned a buy rating to the company. The average 1-year price target among brokers that have updated their coverage on the stock in the last year is $25.3917.

Several equities analysts recently weighed in on CPNG shares. Weiss Ratings reissued a “sell (d)” rating on shares of Coupang in a research note on Tuesday, August 4th. Mizuho set a $22.00 price target on shares of Coupang in a research report on Wednesday, August 5th. Citigroup cut shares of Coupang from a “buy” rating to a “neutral” rating and cut their price target for the company from $23.00 to $22.20 in a research note on Wednesday, May 6th. Barclays restated an “overweight” rating and set a $29.00 price objective on shares of Coupang in a research note on Tuesday, July 7th. Finally, Bank of America dropped their target price on shares of Coupang from $27.00 to $24.00 and set a “buy” rating on the stock in a report on Wednesday, August 5th.

Check Out Our Latest Stock Report on Coupang

Insider Activity at Coupang

In other Coupang news, insider Harold Rogers sold 192,110 shares of the company’s stock in a transaction that occurred on Monday, August 10th. The stock was sold at an average price of $16.18, for a total value of $3,108,339.80. Following the sale, the insider owned 740,931 shares in the company, valued at $11,988,263.58. This represents a 20.59% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CAO Jonathan D. Lee sold 5,519 shares of Coupang stock in a transaction that occurred on Monday, August 10th. The stock was sold at an average price of $16.10, for a total value of $88,855.90. Following the transaction, the chief accounting officer owned 181,915 shares of the company’s stock, valued at $2,928,831.50. This represents a 2.94% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 12.83% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Coupang

Several institutional investors and hedge funds have recently modified their holdings of the stock. California State Teachers Retirement System lifted its stake in Coupang by 0.5% during the third quarter. California State Teachers Retirement System now owns 78,679 shares of the company’s stock worth $2,533,000 after purchasing an additional 361 shares during the last quarter. EverSource Wealth Advisors LLC boosted its holdings in shares of Coupang by 19.5% in the 4th quarter. EverSource Wealth Advisors LLC now owns 3,651 shares of the company’s stock valued at $86,000 after purchasing an additional 597 shares in the last quarter. National Bank of Canada FI increased its stake in shares of Coupang by 6.6% in the 3rd quarter. National Bank of Canada FI now owns 9,801 shares of the company’s stock valued at $316,000 after purchasing an additional 609 shares during the last quarter. Vise Technologies Inc. increased its stake in shares of Coupang by 3.0% in the 4th quarter. Vise Technologies Inc. now owns 22,302 shares of the company’s stock valued at $526,000 after purchasing an additional 642 shares during the last quarter. Finally, Global Retirement Partners LLC raised its holdings in shares of Coupang by 38.0% during the 4th quarter. Global Retirement Partners LLC now owns 2,677 shares of the company’s stock worth $63,000 after buying an additional 737 shares in the last quarter. 83.72% of the stock is currently owned by institutional investors and hedge funds.

Coupang Stock Performance

CPNG opened at $16.51 on Monday. The business’s 50-day simple moving average is $16.87 and its 200 day simple moving average is $17.79. Coupang has a 52-week low of $14.92 and a 52-week high of $34.08. The company has a debt-to-equity ratio of 0.21, a quick ratio of 0.68 and a current ratio of 0.87. The firm has a market capitalization of $29.68 billion, a PE ratio of -38.40 and a beta of 1.13.

Coupang (NYSE:CPNGGet Free Report) last posted its quarterly earnings results on Tuesday, August 4th. The company reported ($0.09) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.27) by $0.18. Coupang had a negative return on equity of 8.77% and a negative net margin of 2.16%.The firm had revenue of $8.86 billion during the quarter, compared to the consensus estimate of $8.92 billion. During the same period last year, the company earned $0.02 earnings per share. The business’s revenue was up 3.9% compared to the same quarter last year. As a group, sell-side analysts expect that Coupang will post -0.46 earnings per share for the current fiscal year.

Coupang Company Profile

(Get Free Report)

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.

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Analyst Recommendations for Coupang (NYSE:CPNG)

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