Wall Street Zen upgraded shares of Coupang (NYSE:CPNG – Free Report) from a strong sell rating to a sell rating in a report issued on Saturday morning,Wall Street Zen reports.
Several other equities research analysts also recently commented on the stock. Bank of America lowered their price objective on shares of Coupang from $27.00 to $24.00 and set a “buy” rating for the company in a research note on Wednesday, August 5th. Mizuho set a $21.00 target price on Coupang in a research report on Wednesday, November 4th. Sanford C. Bernstein cut their target price on Coupang from $12.00 to $11.00 and set an “underperform” rating on the stock in a research report on Thursday, November 5th. Deutsche Bank Aktiengesellschaft upgraded Coupang from a “hold” rating to a “buy” rating and reduced their target price for the stock from $23.00 to $21.50 in a research note on Wednesday, August 5th. Finally, Weiss Ratings reaffirmed a “sell (d)” rating on shares of Coupang in a research report on Monday, November 2nd. Six research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $23.41.
View Our Latest Research Report on Coupang
Coupang Stock Performance
Shares of Coupang stock opened at $16.45 on Friday. The firm has a market capitalization of $29.57 billion, a P/E ratio of -21.65 and a beta of 1.15. The company has a quick ratio of 0.68, a current ratio of 0.80 and a debt-to-equity ratio of 1.16. The company has a 50 day moving average price of $14.74 and a 200 day moving average price of $17.13. Coupang has a 52 week low of $13.35 and a 52 week high of $29.50.
Coupang (NYSE:CPNG – Get Free Report) last released its earnings results on Tuesday, November 3rd. The company reported ($0.18) earnings per share for the quarter, missing the consensus estimate of ($0.09) by ($0.09). The company had revenue of $9.96 billion for the quarter, compared to analysts’ expectations of $9.76 billion. Coupang had a negative return on equity of 21.51% and a negative net margin of 3.77%. The firm’s revenue for the quarter was up 7.5% on a year-over-year basis. During the same period in the prior year, the firm posted $0.05 EPS. Sell-side analysts expect that Coupang will post -0.60 EPS for the current year.
Insider Buying and Selling at Coupang
In other news, CAO Jonathan D. Lee sold 5,519 shares of the business’s stock in a transaction dated Friday, October 2nd. The stock was sold at an average price of $13.65, for a total value of $75,334.35. Following the completion of the transaction, the chief accounting officer owned 176,396 shares of the company’s stock, valued at $2,407,805.40. The trade was a 3.03% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 12.83% of the company’s stock.
Institutional Inflows and Outflows
A number of large investors have recently bought and sold shares of the stock. Aberdeen Group plc boosted its position in Coupang by 1,415.4% in the 3rd quarter. Aberdeen Group plc now owns 572,306 shares of the company’s stock worth $7,938,000 after purchasing an additional 534,540 shares in the last quarter. Allworth Financial LP lifted its stake in shares of Coupang by 25.8% in the 3rd quarter. Allworth Financial LP now owns 5,881 shares of the company’s stock valued at $82,000 after purchasing an additional 1,207 shares during the period. Russell Investments Group Ltd. lifted its stake in shares of Coupang by 3.6% in the 3rd quarter. Russell Investments Group Ltd. now owns 2,901,364 shares of the company’s stock valued at $40,242,000 after purchasing an additional 100,398 shares during the period. Maryland State Retirement & Pension System lifted its stake in shares of Coupang by 14.5% in the 3rd quarter. Maryland State Retirement & Pension System now owns 75,354 shares of the company’s stock valued at $1,045,000 after purchasing an additional 9,546 shares during the period. Finally, Jefferies Financial Group Inc. purchased a new stake in Coupang during the third quarter worth $347,000. 83.72% of the stock is owned by institutional investors and hedge funds.
About Coupang
Coupang, Inc is an e-commerce and technology company best known for its online marketplace in South Korea. The platform offers products across categories such as electronics, apparel, household goods and groceries, combining third-party sellers with retail operations and a network of fulfillment and delivery services.
Its services include Rocket Delivery for rapid shipping, Rocket Fresh for grocery delivery and Coupang Eats for food delivery. Coupang also offers Coupang Play, a video-streaming service, and operates a paid membership program called Rocket Wow.
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