Wall Street Zen Downgrades Coupang (NYSE:CPNG) to Hold

Coupang (NYSE:CPNG) was downgraded by analysts at Wall Street Zen from a “buy” rating to a “hold” rating in a report released on Sunday.

Several other equities research analysts also recently commented on the stock. Mizuho upgraded shares of Coupang to a “hold” rating in a research note on Friday, April 18th. Barclays lifted their price target on Coupang from $35.00 to $36.00 and gave the stock an “overweight” rating in a research report on Thursday, May 8th. Two research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $30.08.

Coupang Trading Up 1.2%

Shares of NYSE CPNG opened at $31.52 on Friday. Coupang has a twelve month low of $18.16 and a twelve month high of $31.60. The company has a quick ratio of 0.90, a current ratio of 1.16 and a debt-to-equity ratio of 0.23. The business has a fifty day simple moving average of $28.78 and a two-hundred day simple moving average of $24.99. The firm has a market cap of $57.23 billion, a PE ratio of 225.14 and a beta of 1.16.

Coupang (NYSE:CPNG) last issued its quarterly earnings data 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 net margin of 0.82% and a return on equity of 10.07%. The company had revenue of $7.91 billion for the quarter, compared to the consensus estimate of $8.02 billion. The firm’s quarterly revenue was up 11.2% compared to the same quarter last year. Analysts expect that Coupang will post 0.17 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, CFO Gaurav Anand sold 175,000 shares of the business’s stock in a transaction that occurred on Thursday, May 29th. The stock was sold at an average price of $28.11, for a total transaction of $4,919,250.00. Following the completion of the sale, the chief financial officer directly owned 2,092,290 shares in the company, valued at approximately $58,814,271.90. The trade was a 7.72% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Benjamin Sun sold 200,000 shares of the stock in a transaction on Wednesday, May 28th. The shares were sold at an average price of $28.36, for a total value of $5,672,000.00. Following the completion of the transaction, the director directly owned 1,319,421 shares of the company’s stock, valued at approximately $37,418,779.56. This represents a 13.16% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 40,459,697 shares of company stock worth $1,067,780,811 in the last 90 days. 12.78% of the stock is owned by insiders.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the business. SVB Wealth LLC acquired a new position in shares of Coupang during the 1st quarter valued at about $28,000. Bank Julius Baer & Co. Ltd Zurich acquired a new position in Coupang in the 1st quarter valued at about $30,000. Albion Financial Group UT acquired a new position in Coupang in the 2nd quarter valued at about $30,000. Grove Bank & Trust purchased a new stake in shares of Coupang in the 1st quarter valued at approximately $33,000. Finally, Brooklyn Investment Group increased its holdings in shares of Coupang by 43.1% during the 1st quarter. Brooklyn Investment Group now owns 1,680 shares of the company’s stock worth $37,000 after buying an additional 506 shares during the last quarter. 83.72% of the stock is owned by hedge funds and other institutional investors.

Coupang Company Profile

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.