Coupang (NYSE:CPNG) Now Covered by Analysts at Arete

Arete initiated coverage on shares of Coupang (NYSE:CPNG) in a report published on Thursday morning, Marketbeat.com reports. The brokerage issued a buy rating and a $40.00 price objective on the stock.

CPNG has been the subject of a number of other reports. Deutsche Bank Aktiengesellschaft lowered shares of Coupang from a “buy” rating to a “hold” rating and set a $27.00 price objective for the company. in a report on Wednesday, August 6th. Nomura Securities upgraded shares of Coupang to a “strong-buy” rating in a report on Wednesday, August 6th. Morgan Stanley boosted their price objective on shares of Coupang from $32.00 to $35.00 and gave the stock an “overweight” rating in a report on Wednesday, August 20th. Nomura upgraded shares of Coupang from a “neutral” rating to a “buy” rating and set a $35.00 price objective for the company in a report on Wednesday, August 6th. Finally, Wall Street Zen lowered shares of Coupang from a “buy” rating to a “hold” rating in a report on Sunday, July 20th. One research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $33.11.

Coupang Price Performance

CPNG stock opened at $33.46 on Thursday. The company has a debt-to-equity ratio of 0.18, a current ratio of 1.09 and a quick ratio of 0.84. Coupang has a one year low of $19.02 and a one year high of $34.08. The stock has a market cap of $61.00 billion, a PE ratio of 167.31 and a beta of 1.15. The firm has a 50 day simple moving average of $29.89 and a two-hundred day simple moving average of $26.91.

Coupang (NYSE:CPNG) last released its quarterly earnings results on Tuesday, August 5th. The company reported $0.02 EPS for the quarter, missing analysts’ consensus estimates of $0.07 by ($0.05). Coupang had a return on equity of 7.47% and a net margin of 1.13%.The company had revenue of $8.52 billion during the quarter, compared to analysts’ expectations of $8.34 billion. During the same period in the prior year, the firm earned $0.07 EPS. Coupang’s quarterly revenue was up 16.4% on a year-over-year basis. On average, analysts predict that Coupang will post 0.17 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, Director Benjamin Sun sold 815,797 shares of the company’s stock in a transaction dated Tuesday, September 9th. The shares were sold at an average price of $31.88, for a total value of $26,007,608.36. Following the sale, the director directly owned 503,624 shares of the company’s stock, valued at $16,055,533.12. This represents a 61.83% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Gaurav Anand sold 75,350 shares of the company’s stock in a transaction dated Monday, August 11th. The stock was sold at an average price of $27.79, for a total transaction of $2,093,976.50. Following the completion of the sale, the chief financial officer directly owned 2,016,940 shares in the company, valued at $56,050,762.60. This represents a 3.60% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 988,983 shares of company stock worth $31,203,966. Company insiders own 12.78% of the company’s stock.

Institutional Trading of Coupang

Hedge funds and other institutional investors have recently modified their holdings of the business. Albion Financial Group UT purchased a new stake in shares of Coupang in the 2nd quarter worth about $30,000. SVB Wealth LLC purchased a new stake in Coupang during the 1st quarter valued at about $28,000. Bank Julius Baer & Co. Ltd Zurich purchased a new stake in Coupang during the 1st quarter valued at about $30,000. Loomis Sayles & Co. L P purchased a new stake in Coupang during the 2nd quarter valued at about $45,000. Finally, Grove Bank & Trust purchased a new stake in Coupang during the 1st quarter valued at about $33,000. 83.72% of the stock is owned by hedge funds and other 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.