Brokerages Set Coupang, Inc. (NYSE:CPNG) Price Target at $29.19

Coupang, Inc. (NYSE:CPNG) has earned an average rating of “Moderate Buy” from the seven research firms that are covering the stock, Marketbeat reports. One analyst has rated the stock with a hold recommendation and six have issued a buy recommendation on the company. The average twelve-month price target among analysts that have covered the stock in the last year is $29.64.

A number of equities analysts have recently weighed in on the stock. Barclays upped their price target on shares of Coupang from $35.00 to $36.00 and gave the stock an “overweight” rating in a research note on Thursday, May 8th. Deutsche Bank Aktiengesellschaft upgraded shares of Coupang from a “hold” rating to a “buy” rating and set a $28.50 price objective on the stock in a research report on Wednesday, February 26th. Finally, Mizuho upgraded shares of Coupang to a “hold” rating in a research report on Friday, April 18th.

Insider Buying and Selling

In other news, Director Benjamin Sun sold 250,000 shares of the business’s stock in a transaction that occurred on Monday, March 17th. The shares were sold at an average price of $23.43, for a total value of $5,857,500.00. Following the completion of the transaction, the director now owns 1,719,421 shares of the company’s stock, valued at $40,286,034.03. The trade was a 12.69% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, major shareholder Svf Investments (Uk) Ltd sold 30,000,000 shares of the business’s stock in a transaction that occurred on Thursday, May 8th. The shares were sold at an average price of $25.75, for a total transaction of $772,500,000.00. Following the completion of the transaction, the insider now directly owns 319,542,259 shares of the company’s stock, valued at approximately $8,228,213,169.25. This represents a 8.58% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 30,334,697 shares of company stock worth $780,547,061 in the last three months. Corporate insiders own 13.60% of the company’s stock.

Hedge Funds Weigh In On Coupang

Institutional investors have recently modified their holdings of the company. Wingate Wealth Advisors Inc. acquired a new position in shares of Coupang in the fourth quarter valued at approximately $26,000. SVB Wealth LLC acquired a new position in Coupang during the first quarter worth approximately $28,000. Bank Julius Baer & Co. Ltd Zurich acquired a new position in Coupang during the first quarter worth approximately $30,000. Berbice Capital Management LLC acquired a new position in Coupang during the fourth quarter worth approximately $31,000. Finally, Grove Bank & Trust acquired a new position in Coupang during the first quarter worth approximately $33,000. Institutional investors and hedge funds own 83.72% of the company’s stock.

Coupang Stock Performance

NYSE:CPNG opened at $27.14 on Tuesday. The company has a quick ratio of 0.86, a current ratio of 1.13 and a debt-to-equity ratio of 0.28. Coupang has a fifty-two week low of $18.16 and a fifty-two week high of $27.73. The stock has a market cap of $49.28 billion, a PE ratio of 47.61, a price-to-earnings-growth ratio of 52.20 and a beta of 1.08. The firm’s fifty day simple moving average is $23.11 and its 200-day simple moving average is $23.44.

Coupang (NYSE:CPNG) last posted its quarterly earnings results on Tuesday, May 6th. The company reported $0.06 earnings per share for the quarter, missing analysts’ consensus estimates of $0.07 by ($0.01). Coupang had a return on equity of 11.52% and a net margin of 3.57%. The company had revenue of $7.91 billion for the quarter, compared to analyst estimates of $8.02 billion. The firm’s revenue was up 11.2% on a year-over-year basis. Analysts expect that Coupang will post 0.17 earnings per share for the current fiscal year.

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.