Coupang (NYSE:CPNG – Get Free Report) was upgraded by investment analysts at Citigroup from a “neutral” rating to a “buy” rating in a research note issued on Wednesday, MarketBeat Ratings reports. The firm presently has a $19.00 price objective on the stock. Citigroup‘s target price would indicate a potential upside of 24.32% from the stock’s previous close.
A number of other equities analysts also recently weighed in on CPNG. Barclays reissued an “overweight” rating and set a $29.00 target price on shares of Coupang in a research note on Tuesday, July 7th. Deutsche Bank Aktiengesellschaft raised shares of Coupang from a “hold” rating to a “buy” rating and cut their price target for the company from $23.00 to $21.50 in a research report on Wednesday, August 5th. Mizuho set a $22.00 price target on Coupang in a report on Wednesday, August 5th. Weiss Ratings reiterated a “sell (d)” rating on shares of Coupang in a report on Monday. Finally, The Goldman Sachs Group set a $31.00 price objective on Coupang in a research report on Thursday, July 9th. Six research analysts have rated the stock with a Buy rating, two have issued a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $23.77.
Get Our Latest Stock Report on CPNG
Coupang Stock Performance
NYSE:CPNG opened at $15.28 on Wednesday. The company has a debt-to-equity ratio of 0.21, a quick ratio of 0.68 and a current ratio of 0.87. Coupang has a fifty-two week low of $13.35 and a fifty-two week high of $32.14. The company has a 50 day simple moving average of $14.73 and a two-hundred day simple moving average of $17.22. The company has a market capitalization of $27.47 billion, a PE ratio of -35.54 and a beta of 1.15.
Coupang (NYSE:CPNG – Get Free Report) last issued its quarterly earnings results on Tuesday, November 3rd. The company reported ($0.18) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.09) by ($0.09). Coupang had a negative return on equity of 8.77% and a negative net margin of 2.16%. The firm had revenue of $9.96 billion during the quarter, compared to analyst estimates of $9.76 billion. During the same quarter last year, the firm posted $0.05 EPS. The firm’s revenue for the quarter was up 7.5% on a year-over-year basis. Research analysts anticipate that Coupang will post -0.47 earnings per share for the current year.
Insider Buying and Selling at Coupang
In other Coupang news, insider Harold Rogers sold 192,110 shares of the firm’s stock in a transaction on Monday, August 10th. The shares were sold at an average price of $16.18, for a total value of $3,108,339.80. Following the completion of the sale, the insider directly owned 740,931 shares in the company, valued at approximately $11,988,263.58. This trade represents a 20.59% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CAO Jonathan D. Lee sold 5,519 shares of Coupang stock in a transaction on Friday, October 2nd. The shares were sold at an average price of $13.65, for a total transaction of $75,334.35. Following the completion of the sale, the chief accounting officer directly owned 176,396 shares of the company’s stock, valued at approximately $2,407,805.40. This trade represents a 3.03% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last three months, insiders have sold 203,148 shares of company stock worth $3,272,530. 12.83% of the stock is owned by insiders.
Institutional Trading of Coupang
Several large investors have recently made changes to their positions in CPNG. NewEdge Wealth LLC increased its position in Coupang by 5.2% in the 1st quarter. NewEdge Wealth LLC now owns 16,917 shares of the company’s stock valued at $319,000 after buying an additional 840 shares in the last quarter. Root Financial Partners LLC boosted its holdings in Coupang by 68.5% in the first quarter. Root Financial Partners LLC now owns 2,265 shares of the company’s stock worth $43,000 after acquiring an additional 921 shares in the last quarter. Resonant Capital Advisors LLC boosted its holdings in Coupang by 10.5% in the first quarter. Resonant Capital Advisors LLC now owns 13,449 shares of the company’s stock worth $254,000 after acquiring an additional 1,280 shares in the last quarter. Vise Technologies Inc. grew its stake in Coupang by 6.6% in the third quarter. Vise Technologies Inc. now owns 21,112 shares of the company’s stock valued at $293,000 after acquiring an additional 1,315 shares during the period. Finally, Adalta Capital Management LLC grew its stake in Coupang by 1.5% in the first quarter. Adalta Capital Management LLC now owns 87,801 shares of the company’s stock valued at $1,658,000 after acquiring an additional 1,335 shares during the period. 83.72% of the stock is currently owned by institutional investors and hedge funds.
Key Stories Impacting Coupang
Here are the key news stories impacting Coupang this week:
- Positive Sentiment: Q3 revenue was $9.96 billion, above FactSet’s $9.76 billion estimate. One Zacks report also said Coupang’s adjusted loss of $0.18 per share was narrower than its cited $0.23 consensus loss. Revenue report Zacks earnings report
- Neutral Sentiment: Coupang said it is investing in growth initiatives. Those investments may support longer-term expansion, but the reports provide no detail here on their expected returns or timing. Article on growth investments
- Negative Sentiment: Coupang posted an adjusted loss of $0.18 per share, compared with a profit of $0.05 a year earlier. Analyst comparisons differ: MarketBeat cited a $0.09 expected loss, making the result a miss, while Zacks cited a $0.23 expected loss, making it a beat. A separate report characterized a $248 million fire-related impact as wiping out the quarter, adding a potential drag on profitability. Loss report Fire impact article
Coupang Company Profile
Coupang, Inc is an e-commerce and technology company that operates a large digital retail platform. The company offers a broad selection of merchandise, including electronics, household goods, apparel, beauty products and groceries. Its services include Rocket Delivery, a fast-delivery program; Rocket Fresh, which focuses on fresh food and groceries; and Wow, a membership program that provides delivery and other customer benefits.
Coupang also operates Coupang Eats, a restaurant-ordering and delivery service, as well as Coupang Play, a digital video streaming platform.
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