Coupang (NYSE:CPNG) Upgraded by Citigroup to “Buy”

Citigroup upgraded shares of Coupang (NYSE:CPNG) from a neutral rating to a buy rating in a report published on Monday, Marketbeat.com reports. Citigroup currently has $26.00 price objective on the stock, up from their prior price objective of $19.00.

A number of other analysts also recently weighed in on the stock. TheStreet upgraded shares of Coupang from a d+ rating to a c- rating in a research report on Tuesday, March 5th. Barclays raised their target price on shares of Coupang from $24.00 to $25.00 and gave the stock an overweight rating in a report on Thursday, February 29th. Deutsche Bank Aktiengesellschaft upgraded shares of Coupang from a hold rating to a buy rating and raised their target price for the stock from $18.50 to $21.00 in a report on Thursday, February 29th. Finally, UBS Group downgraded shares of Coupang from a buy rating to a neutral rating and dropped their target price for the stock from $26.00 to $18.50 in a report on Wednesday, December 20th. One investment analyst has rated the stock with a hold rating and three have given a buy rating to the stock. According to MarketBeat, the company presently has an average rating of Moderate Buy and an average target price of $22.42.

Coupang Stock Performance

Shares of NYSE:CPNG opened at $21.69 on Monday. The company has a market capitalization of $38.90 billion, a price-to-earnings ratio of 28.92 and a beta of 1.32. The firm’s 50 day simple moving average is $17.59 and its 200 day simple moving average is $16.65. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.14 and a quick ratio of 0.90. Coupang has a fifty-two week low of $13.51 and a fifty-two week high of $22.49.

Coupang (NYSE:CPNG) last announced its quarterly earnings results on Tuesday, February 27th. The company reported $0.08 earnings per share for the quarter, beating analysts’ consensus estimates of $0.05 by $0.03. The business had revenue of $6.56 billion for the quarter, compared to the consensus estimate of $6.40 billion. Coupang had a net margin of 5.57% and a return on equity of 15.04%. Coupang’s revenue for the quarter was up 23.2% on a year-over-year basis. During the same period last year, the company posted $0.06 EPS. As a group, sell-side analysts forecast that Coupang will post 0.29 earnings per share for the current year.

Insider Activity

In other news, major shareholder Svf Investments (Uk) Ltd sold 31,614,154 shares of Coupang stock in a transaction that occurred on Tuesday, March 12th. The shares were sold at an average price of $19.01, for a total value of $600,985,067.54. Following the sale, the insider now directly owns 364,542,259 shares in the company, valued at $6,929,948,343.59. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, insider Pranam Kolari sold 2,356 shares of Coupang stock in a transaction that occurred on Friday, February 2nd. The shares were sold at an average price of $13.88, for a total value of $32,701.28. Following the sale, the insider now directly owns 182,844 shares in the company, valued at $2,537,874.72. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, major shareholder Svf Investments (Uk) Ltd sold 31,614,154 shares of Coupang stock in a transaction that occurred on Tuesday, March 12th. The shares were sold at an average price of $19.01, for a total transaction of $600,985,067.54. Following the completion of the sale, the insider now owns 364,542,259 shares in the company, valued at $6,929,948,343.59. The disclosure for this sale can be found here. Insiders have sold 33,355,590 shares of company stock worth $633,443,979 over the last ninety days. Insiders own 14.90% of the company’s stock.

Hedge Funds Weigh In On Coupang

Hedge funds and other institutional investors have recently made changes to their positions in the company. Headinvest LLC bought a new position in shares of Coupang in the third quarter valued at $29,000. Eagle Bay Advisors LLC bought a new position in Coupang during the second quarter worth $26,000. Altshuler Shaham Ltd bought a new position in Coupang during the fourth quarter worth $36,000. Comerica Bank bought a new position in Coupang during the third quarter worth $43,000. Finally, NBC Securities Inc. bought a new position in Coupang during the third quarter worth $51,000. 83.72% of the stock is owned by institutional investors.

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.