Coupang (NYSE:CPNG) Price Target Raised to $28.00

Coupang (NYSE:CPNG) had its price objective boosted by equities research analysts at Citigroup from $26.00 to $28.00 in a report released on Wednesday, Benzinga reports. The brokerage currently has a “buy” rating on the stock. Citigroup’s target price would indicate a potential upside of 27.24% from the stock’s current price.

CPNG has been the topic of a number of other research reports. Barclays increased their price target on Coupang from $24.00 to $25.00 and gave the company an “overweight” rating in a research note on Thursday, February 29th. TheStreet raised shares of Coupang from a “d+” rating to a “c-” rating in a research report on Tuesday, March 5th. Bank of America began coverage on shares of Coupang in a report on Friday, May 3rd. They set a “buy” rating and a $30.00 target price for the company. Mizuho increased their price target on shares of Coupang from $20.00 to $23.00 and gave the company a “neutral” rating in a report on Wednesday. Finally, Deutsche Bank Aktiengesellschaft upgraded Coupang from a “hold” rating to a “buy” rating and boosted their price objective for the stock from $18.50 to $21.00 in a report on Thursday, February 29th. Two equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $25.42.

Coupang Stock Performance

Shares of CPNG opened at $22.01 on Wednesday. The company has a market cap of $39.46 billion, a PE ratio of 29.60, a price-to-earnings-growth ratio of 19.21 and a beta of 1.13. The firm has a 50-day moving average of $19.97 and a 200-day moving average of $17.27. Coupang has a one year low of $13.51 and a one year high of $23.77. 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 (NYSE:CPNG) last posted its quarterly earnings results on Tuesday, May 7th. The company reported $0.05 EPS for the quarter, missing analysts’ consensus estimates of $0.06 by ($0.01). The business had revenue of $7.11 billion for the quarter, compared to the consensus estimate of $6.95 billion. Coupang had a return on equity of 15.04% and a net margin of 5.57%. The company’s revenue for the quarter was up 22.6% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.05 EPS. As a group, equities analysts forecast that Coupang will post 0.35 earnings per share for the current year.

Insider Buying and Selling at Coupang

In other news, major shareholder Svf Investments (Uk) Ltd sold 31,614,154 shares of the firm’s 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 transaction, the insider now directly owns 364,542,259 shares of the company’s stock, valued at $6,929,948,343.59. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Coupang news, insider Pranam Kolari sold 2,048 shares of the stock in a transaction dated Thursday, May 2nd. The shares were sold at an average price of $22.34, for a total transaction of $45,752.32. Following the sale, the insider now directly owns 187,951 shares in the company, valued at $4,198,825.34. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, major shareholder Svf Investments (Uk) Ltd sold 31,614,154 shares of the business’s 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 transaction, the insider now owns 364,542,259 shares of the company’s stock, valued at $6,929,948,343.59. The disclosure for this sale can be found here. Insiders sold 33,355,282 shares of company stock valued at $633,457,030 in the last quarter. Company insiders own 14.90% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the company. Fortis Capital Advisors LLC bought a new stake in Coupang during the first quarter worth $295,000. Motley Fool Asset Management LLC raised its holdings in shares of Coupang by 7.9% during the 1st quarter. Motley Fool Asset Management LLC now owns 52,927 shares of the company’s stock worth $942,000 after buying an additional 3,875 shares in the last quarter. Bleakley Financial Group LLC lifted its position in shares of Coupang by 17.9% during the 1st quarter. Bleakley Financial Group LLC now owns 17,880 shares of the company’s stock worth $318,000 after buying an additional 2,710 shares during the last quarter. US Bancorp DE boosted its stake in Coupang by 1,379.0% in the first quarter. US Bancorp DE now owns 209,951 shares of the company’s stock valued at $3,735,000 after buying an additional 195,756 shares in the last quarter. Finally, Russell Investments Group Ltd. grew its position in Coupang by 9.1% in the first quarter. Russell Investments Group Ltd. now owns 2,249,822 shares of the company’s stock valued at $40,008,000 after acquiring an additional 188,167 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.