Coupang (NYSE:CPNG) Now Covered by Bank of America

Bank of America began coverage on shares of Coupang (NYSE:CPNG) in a report released on Friday, StockNewsAPI reports. The brokerage issued a buy rating and a $30.00 price target on the stock.

Other analysts have also issued reports about the company. Citigroup raised Coupang from a neutral rating to a buy rating and boosted their target price for the company from $19.00 to $26.00 in a research report on Monday, April 15th. Barclays boosted their target price on Coupang from $24.00 to $25.00 and gave the company an overweight rating in a research report on Thursday, February 29th. Deutsche Bank Aktiengesellschaft raised Coupang from a hold rating to a buy rating and boosted their target price for the company from $18.50 to $21.00 in a research report on Thursday, February 29th. Finally, TheStreet raised Coupang from a d+ rating to a c- rating in a research report on Tuesday, March 5th. One investment analyst has rated the stock with a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of Moderate Buy and a consensus price target of $23.75.

Coupang Stock Up 2.2 %

Shares of NYSE:CPNG opened at $23.00 on Friday. The company has a market capitalization of $41.25 billion, a price-to-earnings ratio of 30.67 and a beta of 1.13. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.14 and a quick ratio of 0.90. The business’s 50-day moving average is $19.65 and its 200-day moving average is $17.17. Coupang has a 1 year low of $13.51 and a 1 year high of $23.40.

Coupang (NYSE:CPNG) last announced its quarterly earnings data on Tuesday, February 27th. The company reported $0.08 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.05 by $0.03. The company had revenue of $6.56 billion for the quarter, compared to the consensus estimate of $6.40 billion. Coupang had a return on equity of 15.04% and a net margin of 5.57%. The firm’s revenue was up 23.2% compared to the same quarter last year. During the same period in the previous year, the business earned $0.06 EPS. Equities research analysts predict that Coupang will post 0.35 earnings per share for the current year.

Insiders Place Their Bets

In other Coupang news, insider Pranam Kolari sold 2,048 shares of the business’s stock in a transaction that occurred on Thursday, May 2nd. The stock was sold at an average price of $22.34, for a total transaction of $45,752.32. Following the completion of the sale, the insider now directly owns 187,951 shares of the company’s stock, valued at approximately $4,198,825.34. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, major shareholder Svf Investments (Uk) Ltd sold 31,614,154 shares of the company’s stock in a transaction that occurred on Tuesday, March 12th. The stock was sold at an average price of $19.01, for a total value of $600,985,067.54. Following the completion of the transaction, the insider now directly owns 364,542,259 shares of the company’s stock, valued at $6,929,948,343.59. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, insider Pranam Kolari sold 2,048 shares of the company’s stock in a transaction that occurred on Thursday, May 2nd. The shares were sold at an average price of $22.34, for a total value of $45,752.32. Following the completion of the transaction, the insider now directly owns 187,951 shares of the company’s stock, valued at $4,198,825.34. The disclosure for this sale can be found here. In the last ninety days, insiders sold 33,355,282 shares of company stock valued at $633,457,030. Corporate insiders own 14.90% of the company’s stock.

Hedge Funds Weigh In On Coupang

Several institutional investors have recently modified their holdings of CPNG. Global Retirement Partners LLC grew its holdings in shares of Coupang by 135.8% in the first quarter. Global Retirement Partners LLC now owns 1,436 shares of the company’s stock valued at $26,000 after acquiring an additional 827 shares in the last quarter. Headinvest LLC purchased a new position in Coupang in the third quarter valued at approximately $29,000. Register Financial Advisors LLC purchased a new position in Coupang in the first quarter valued at approximately $50,000. NBC Securities Inc. purchased a new position in Coupang in the third quarter valued at approximately $51,000. Finally, Nomura Asset Management Co. Ltd. lifted its stake in Coupang by 27.2% in the fourth quarter. Nomura Asset Management Co. Ltd. now owns 8,528 shares of the company’s stock valued at $138,000 after purchasing an additional 1,821 shares during the last quarter. 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.