Brokerages Set Coupang, Inc. (NYSE:CPNG) PT at $31.14

Shares of Coupang, Inc. (NYSE:CPNG) have been given a consensus rating of “Moderate Buy” by the eight ratings firms that are covering the company, Marketbeat Ratings reports. Two analysts have rated the stock with a hold rating, five have assigned a buy rating and one has issued a strong buy rating on the company. The average 1-year price target among brokers that have covered the stock in the last year is $31.1429.

Several equities analysts have recently commented on the company. Nomura Securities raised Coupang to a “strong-buy” rating in a research report on Wednesday, August 6th. Wall Street Zen cut Coupang from a “buy” rating to a “hold” rating in a research note on Sunday, July 20th. Deutsche Bank Aktiengesellschaft cut Coupang from a “buy” rating to a “hold” rating and set a $27.00 price target for the company. in a research note on Wednesday, August 6th. Morgan Stanley boosted their price target on Coupang from $32.00 to $35.00 and gave the company an “overweight” rating in a research note on Wednesday, August 20th. Finally, Nomura upgraded Coupang from a “neutral” rating to a “buy” rating and set a $35.00 price target for the company in a research note on Wednesday, August 6th.

Insiders Place Their Bets

In related news, Director Pedro Franceschi sold 21,428 shares of the business’s stock in a transaction that occurred on Thursday, September 11th. The stock was sold at an average price of $32.05, for a total value of $686,767.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Gaurav Anand sold 75,350 shares of the business’s stock in a transaction that occurred on Monday, August 11th. The shares were sold at an average price of $27.79, for a total value of $2,093,976.50. Following the completion of the sale, the chief financial officer owned 2,016,940 shares of the company’s stock, valued at approximately $56,050,762.60. This trade represents a 3.60% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 988,983 shares of company stock valued at $31,203,966 in the last quarter. Company insiders own 12.78% of the company’s stock.

Institutional Investors Weigh In On Coupang

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Dodge & Cox lifted its stake in Coupang by 14.3% during the second quarter. Dodge & Cox now owns 46,614,520 shares of the company’s stock worth $1,396,571,000 after purchasing an additional 5,829,600 shares during the last quarter. Durable Capital Partners LP lifted its stake in Coupang by 7.5% during the second quarter. Durable Capital Partners LP now owns 24,743,982 shares of the company’s stock worth $741,330,000 after purchasing an additional 1,734,980 shares during the last quarter. Norges Bank bought a new stake in Coupang during the second quarter worth $587,186,000. Holocene Advisors LP lifted its stake in Coupang by 24.5% during the second quarter. Holocene Advisors LP now owns 15,689,845 shares of the company’s stock worth $470,068,000 after purchasing an additional 3,083,854 shares during the last quarter. Finally, State Street Corp lifted its stake in Coupang by 8.4% during the second quarter. State Street Corp now owns 15,641,775 shares of the company’s stock worth $468,628,000 after purchasing an additional 1,210,801 shares during the last quarter. 83.72% of the stock is currently owned by institutional investors.

Coupang Price Performance

Coupang stock opened at $33.54 on Monday. Coupang has a 12 month low of $19.02 and a 12 month high of $33.71. The stock’s 50 day moving average is $29.83 and its 200-day moving average is $26.84. The company has a current ratio of 1.09, a quick ratio of 0.84 and a debt-to-equity ratio of 0.18. The company has a market capitalization of $61.15 billion, a price-to-earnings ratio of 167.71 and a beta of 1.15.

Coupang (NYSE:CPNG) last posted its earnings results on Tuesday, August 5th. The company reported $0.02 EPS for the quarter, missing the consensus estimate of $0.07 by ($0.05). Coupang had a net margin of 1.13% and a return on equity of 7.47%. The firm had revenue of $8.52 billion during the quarter, compared to analyst estimates of $8.34 billion. During the same period in the previous year, the company posted $0.07 EPS. Coupang’s revenue for the quarter was up 16.4% compared to the same quarter last year. Equities research analysts expect that Coupang will post 0.17 EPS for the current year.

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.