Bank of America Increases Coupang (NYSE:CPNG) Price Target to $38.00

Coupang (NYSE:CPNG) had its price objective lifted by equities researchers at Bank of America from $36.00 to $38.00 in a note issued to investors on Wednesday,Benzinga reports. The brokerage currently has a “buy” rating on the stock. Bank of America‘s price objective points to a potential upside of 30.94% from the company’s current price.

A number of other equities research analysts have also weighed in on the stock. Arete Research assumed coverage on shares of Coupang in a report on Thursday, September 18th. They issued a “buy” rating and a $40.00 price objective for the company. Morgan Stanley lifted their target price on shares of Coupang from $32.00 to $35.00 and gave the stock an “overweight” rating in a research report on Wednesday, August 20th. Arete initiated coverage on shares of Coupang in a research report on Thursday, September 18th. They set a “buy” rating and a $40.00 price target for the company. Nomura raised Coupang from a “neutral” rating to a “buy” rating and set a $35.00 price objective on the stock in a research note on Wednesday, August 6th. Finally, Zacks Research lowered Coupang from a “hold” rating to a “strong sell” rating in a research note on Monday, October 6th. One research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and four have issued a Hold rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $34.56.

Coupang Trading Down 4.0%

Shares of CPNG stock opened at $29.02 on Wednesday. The company has a quick ratio of 0.84, a current ratio of 1.06 and a debt-to-equity ratio of 0.13. The firm has a market cap of $52.91 billion, a P/E ratio of 138.20 and a beta of 1.17. The business has a 50-day moving average price of $31.61 and a two-hundred day moving average price of $29.29. Coupang has a 12-month low of $19.02 and a 12-month high of $34.08.

Coupang (NYSE:CPNG) last announced its quarterly earnings data on Tuesday, November 4th. The company reported $0.05 earnings per share for the quarter, beating analysts’ consensus estimates of $0.04 by $0.01. The company had revenue of $9.27 billion for the quarter, compared to analysts’ expectations of $9.13 billion. Coupang had a return on equity of 6.95% and a net margin of 1.16%.Coupang’s revenue for the quarter was up 17.8% compared to the same quarter last year. During the same period last year, the firm posted $0.06 EPS. Equities analysts anticipate that Coupang will post 0.17 EPS for the current fiscal year.

Insider Buying and Selling at Coupang

In other Coupang news, CFO Gaurav Anand sold 75,350 shares of the business’s stock in a transaction on Monday, August 11th. The shares were sold at an average price of $27.79, for a total transaction of $2,093,976.50. Following the transaction, the chief financial officer directly owned 2,016,940 shares of the company’s stock, valued at approximately $56,050,762.60. The trade was a 3.60% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Pedro Franceschi sold 21,428 shares of Coupang stock in a transaction dated Thursday, September 11th. The shares were sold at an average price of $32.05, for a total transaction of $686,767.40. The SEC filing for this sale provides additional information. In the last quarter, insiders sold 988,983 shares of company stock worth $31,237,061. 12.78% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Coupang

Several hedge funds have recently bought and sold shares of CPNG. Albion Financial Group UT purchased a new position in shares of Coupang during the second quarter valued at approximately $30,000. Orion Capital Management LLC bought a new position in Coupang during the 3rd quarter valued at approximately $32,000. Hilltop National Bank purchased a new position in Coupang during the third quarter valued at $34,000. Root Financial Partners LLC bought a new stake in Coupang in the third quarter worth $40,000. Finally, SVB Wealth LLC purchased a new stake in shares of Coupang in the first quarter worth $28,000. Institutional investors own 83.72% of the company’s stock.

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.