Coupang (NYSE:CPNG) Shares Gap Up – Time to Buy?

Shares of Coupang, Inc. (NYSE:CPNGGet Free Report) gapped up prior to trading on Friday . The stock had previously closed at $22.80, but opened at $24.87. Coupang shares last traded at $24.8780, with a volume of 6,680,513 shares.

More Coupang News

Here are the key news stories impacting Coupang this week:

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on CPNG. Barclays raised their target price on Coupang from $36.00 to $40.00 and gave the company an “overweight” rating in a research note on Tuesday, November 11th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Coupang in a report on Wednesday, October 8th. Morgan Stanley restated an “overweight” rating and set a $31.00 price target on shares of Coupang in a report on Sunday, December 14th. Bank of America increased their price objective on shares of Coupang from $36.00 to $38.00 and gave the company a “buy” rating in a research note on Wednesday, November 5th. Finally, Zacks Research raised Coupang from a “strong sell” rating to a “hold” rating in a research report on Tuesday, November 4th. One equities research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and four have given a Hold rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $33.25.

Read Our Latest Report on Coupang

Coupang Stock Up 6.5%

The company’s 50 day simple moving average is $27.68 and its 200-day simple moving average is $29.35. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.82 and a current ratio of 1.06. The firm has a market capitalization of $44.34 billion, a PE ratio of 115.60 and a beta of 1.18.

Coupang (NYSE:CPNGGet Free Report) last posted its quarterly earnings data on Tuesday, November 4th. The company reported $0.05 earnings per share for the quarter, topping the consensus estimate of $0.04 by $0.01. Coupang had a net margin of 1.16% and a return on equity of 6.95%. The company had revenue of $9.27 billion for the quarter, compared to analysts’ expectations of $9.13 billion. During the same period in the prior year, the business earned $0.06 earnings per share. Coupang’s revenue for the quarter was up 17.8% compared to the same quarter last year. On average, analysts forecast that Coupang, Inc. will post 0.17 EPS for the current fiscal year.

Insider Activity

In other Coupang news, VP Pranam Kolari sold 11,653 shares of the business’s stock in a transaction dated Monday, November 3rd. The shares were sold at an average price of $31.98, for a total value of $372,662.94. Following the transaction, the vice president owned 147,023 shares in the company, valued at approximately $4,701,795.54. The trade was a 7.34% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 12.78% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in CPNG. Dodge & Cox boosted its holdings in Coupang by 0.7% in the third quarter. Dodge & Cox now owns 46,947,720 shares of the company’s stock worth $1,511,717,000 after acquiring an additional 333,200 shares in the last quarter. Capital International Investors grew its position in Coupang by 7.6% during the 3rd quarter. Capital International Investors now owns 34,153,094 shares of the company’s stock valued at $1,099,792,000 after purchasing an additional 2,421,089 shares during the last quarter. Vanguard Group Inc. increased its stake in Coupang by 343.5% during the 3rd quarter. Vanguard Group Inc. now owns 28,595,825 shares of the company’s stock valued at $920,786,000 after purchasing an additional 22,147,432 shares in the last quarter. Durable Capital Partners LP lifted its stake in shares of Coupang by 0.4% in the third quarter. Durable Capital Partners LP now owns 24,833,189 shares of the company’s stock worth $799,629,000 after buying an additional 89,207 shares in the last quarter. Finally, Norges Bank bought a new position in shares of Coupang in the second quarter worth approximately $587,186,000. Institutional investors own 83.72% of the company’s stock.

About Coupang

(Get Free Report)

Coupang, listed on the New York Stock Exchange under the ticker CPNG, is a South Korean e-commerce company headquartered in Seoul. Founded in 2010 by Bom Kim, the company grew rapidly by combining an online marketplace with a large direct-retail business model. Coupang completed a primary listing in the United States in 2021, and it has become one of South Korea’s leading online retailers by focusing on convenience, speed and a wide product assortment across consumer categories.

The company operates a vertically integrated e-commerce platform that includes a customer-facing marketplace and an extensive logistics and fulfillment network.

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