Barclays Forecasts Strong Price Appreciation for Coupang (NYSE:CPNG) Stock

Coupang (NYSE:CPNG) had its price target hoisted by stock analysts at Barclays from $23.00 to $24.00 in a note issued to investors on Monday,Benzinga reports. The firm presently has an “overweight” rating on the stock. Barclays‘s target price would suggest a potential upside of 24.93% from the company’s current price.

CPNG has been the topic of a number of other research reports. Zacks Research raised shares of Coupang from a “strong sell” rating to a “hold” rating in a report on Tuesday, November 4th. Bank of America increased their target price on shares of Coupang from $36.00 to $38.00 and gave the company a “buy” rating in a research report on Wednesday, November 5th. Morgan Stanley cut their price target on shares of Coupang from $31.00 to $29.00 and set an “overweight” rating on the stock in a research note on Monday. Citigroup reduced their price target on shares of Coupang from $27.00 to $24.00 and set a “buy” rating for the company in a research report on Tuesday, February 10th. Finally, Deutsche Bank Aktiengesellschaft raised Coupang from a “hold” rating to a “buy” rating and set a $25.00 price objective on the stock in a report on Friday, January 16th. Six research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $26.70.

Coupang Stock Down 3.1%

Shares of NYSE CPNG opened at $19.21 on Monday. The business has a 50-day moving average of $20.34 and a two-hundred day moving average of $26.26. The company has a market capitalization of $35.09 billion, a price-to-earnings ratio of 160.10 and a beta of 1.20. Coupang has a 1 year low of $16.74 and a 1 year high of $34.08. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.04 and a quick ratio of 0.79.

Coupang (NYSE:CPNG) last issued its earnings results on Thursday, February 26th. The company reported ($0.01) earnings per share for the quarter, missing the consensus estimate of $0.02 by ($0.03). The business had revenue of $8.84 billion for the quarter, compared to analyst estimates of $9.12 billion. Coupang had a return on equity of 4.52% and a net margin of 0.60%.Coupang’s revenue was up 10.9% on a year-over-year basis. During the same period last year, the business posted $0.04 EPS. On average, analysts forecast that Coupang will post 0.17 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Coupang news, CAO Jonathan D. Lee sold 2,679 shares of the firm’s stock in a transaction on Friday, January 2nd. The shares were sold at an average price of $23.62, for a total transaction of $63,277.98. Following the transaction, the chief accounting officer directly owned 122,096 shares of the company’s stock, valued at approximately $2,883,907.52. This trade represents a 2.15% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. 12.78% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Coupang

Institutional investors and hedge funds have recently made changes to their positions in the business. Sunbelt Securities Inc. purchased a new position in shares of Coupang during the third quarter worth about $26,000. Reflection Asset Management purchased a new stake in Coupang during the 4th quarter valued at approximately $28,000. Orion Capital Management LLC acquired a new stake in Coupang during the 3rd quarter worth approximately $32,000. Hilltop National Bank purchased a new position in shares of Coupang in the 3rd quarter valued at approximately $34,000. Finally, Fifth Third Bancorp grew its stake in shares of Coupang by 1,250.0% in the 3rd quarter. Fifth Third Bancorp now owns 1,080 shares of the company’s stock valued at $35,000 after purchasing an additional 1,000 shares during the last quarter. 83.72% of the stock is owned by hedge funds and other institutional investors.

About Coupang

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.