Brokerages Set Coupang, Inc. (NYSE:CPNG) Price Target at $22.02

Coupang, Inc. (NYSE:CPNG – Get Rating) has been assigned an average rating of “Moderate Buy” from the thirteen analysts that are currently covering the firm, Marketbeat.com reports. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and eight have issued a buy rating on the company. The average 1 year price target among analysts that have issued a report on the stock in the last year is $22.02.

Several equities research analysts have commented on CPNG shares. New Street Research started coverage on Coupang in a research report on Thursday, December 1st. They issued a “buy” rating and a $25.00 price objective on the stock. Deutsche Bank Aktiengesellschaft raised shares of Coupang from a “hold” rating to a “buy” rating and set a $20.00 price target on the stock in a research note on Wednesday, March 1st. Barclays initiated coverage on shares of Coupang in a research report on Thursday, February 9th. They set an “overweight” rating and a $20.00 price objective for the company. Bank of America lowered shares of Coupang from a “buy” rating to a “neutral” rating and dropped their target price for the company from $27.00 to $18.00 in a research report on Thursday, March 2nd. Finally, Morgan Stanley dropped their target price on shares of Coupang from $26.00 to $23.00 in a research report on Wednesday, March 1st.

Coupang Price Performance

Shares of CPNG stock opened at $13.29 on Wednesday. Coupang has a fifty-two week low of $8.98 and a fifty-two week high of $21.38. The firm has a market capitalization of $23.53 billion, a price-to-earnings ratio of -265.80 and a beta of 1.34. The company has a debt-to-equity ratio of 0.22, a quick ratio of 0.82 and a current ratio of 1.15. The stock’s 50-day simple moving average is $15.88 and its 200-day simple moving average is $16.92.

Coupang (NYSE:CPNG – Get Rating) last issued its earnings results on Tuesday, February 28th. The company reported $0.06 EPS for the quarter, beating analysts’ consensus estimates of $0.05 by $0.01. The firm had revenue of $5.33 billion for the quarter, compared to analyst estimates of $5.37 billion. Coupang had a negative return on equity of 4.24% and a negative net margin of 0.45%. Coupang’s revenue for the quarter was up 4.9% on a year-over-year basis. During the same quarter in the prior year, the firm earned ($0.23) earnings per share. As a group, equities analysts forecast that Coupang will post 0.3 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Coupang

Several large investors have recently added to or reduced their stakes in the stock. Raymond James & Associates raised its holdings in shares of Coupang by 64.0% during the first quarter. Raymond James & Associates now owns 188,859 shares of the company’s stock valued at $3,339,000 after acquiring an additional 73,703 shares during the period. Bank of New York Mellon Corp increased its stake in shares of Coupang by 140.7% during the 1st quarter. Bank of New York Mellon Corp now owns 1,035,866 shares of the company’s stock worth $18,315,000 after purchasing an additional 605,499 shares during the last quarter. Cambridge Investment Research Advisors Inc. boosted its holdings in shares of Coupang by 111.0% during the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 23,878 shares of the company’s stock worth $422,000 after buying an additional 12,562 shares during the period. HighTower Advisors LLC boosted its holdings in shares of Coupang by 27.0% during the 1st quarter. HighTower Advisors LLC now owns 81,147 shares of the company’s stock worth $1,435,000 after buying an additional 17,248 shares during the period. Finally, Citigroup Inc. boosted its holdings in shares of Coupang by 75.8% during the 1st quarter. Citigroup Inc. now owns 78,576 shares of the company’s stock worth $1,389,000 after buying an additional 33,890 shares during the period. 71.56% of the stock is owned by institutional investors and hedge funds.

About Coupang

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Coupang, Inc owns and operates in e-commerce business through its mobile applications and Internet websites primarily in South Korea. It operates through two segments, Product Commerce and Growth Initiatives. The company 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.