Nomura Issues Pessimistic Forecast for Coupang (NYSE:CPNG) Stock Price

Coupang (NYSE:CPNG) had its target price dropped by equities researchers at Nomura from $22.00 to $20.00 in a research report issued to clients and investors on Monday,MarketScreener reports. The brokerage currently has a “neutral” rating on the stock. Nomura’s price target indicates a potential upside of 4.11% from the company’s current price.

Several other analysts have also commented on CPNG. Weiss Ratings reissued a “hold (c)” rating on shares of Coupang in a report on Wednesday, January 21st. Zacks Research raised shares of Coupang from a “strong sell” rating to a “hold” rating in a research note on Tuesday, November 4th. Citigroup cut their price target on shares of Coupang from $27.00 to $24.00 and set a “buy” rating for the company in a report on Tuesday, February 10th. Barclays reduced their price objective on shares of Coupang from $40.00 to $23.00 and set an “overweight” rating for the company in a research report on Thursday, February 19th. Finally, Mizuho dropped their target price on shares of Coupang from $32.00 to $25.00 and set a “neutral” rating on the stock in a research report on Friday, February 27th. Six equities research analysts have rated the stock with a Buy rating, three have issued a Hold rating and two have given a Sell rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $26.70.

Coupang Trading Down 3.1%

Shares of Coupang stock opened at $19.21 on Monday. The firm has a 50-day simple moving average of $20.34 and a two-hundred day simple moving average of $26.26. The company has a debt-to-equity ratio of 0.14, a quick ratio of 0.79 and a current ratio of 1.04. Coupang has a fifty-two week low of $16.74 and a fifty-two week high of $34.08. The company has a market cap of $35.09 billion, a P/E ratio of 160.10 and a beta of 1.20.

Coupang (NYSE:CPNG) last posted its earnings results on Thursday, February 26th. The company reported ($0.01) EPS for the quarter, missing analysts’ consensus estimates of $0.02 by ($0.03). Coupang had a net margin of 0.60% and a return on equity of 4.52%. The business had revenue of $8.84 billion for the quarter, compared to analyst estimates of $9.12 billion. During the same quarter last year, the business earned $0.04 earnings per share. Coupang’s revenue was up 10.9% on a year-over-year basis. As a group, equities analysts predict 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 Coupang 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 sale, the chief accounting officer owned 122,096 shares of the company’s stock, valued at $2,883,907.52. The trade was a 2.15% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders own 12.78% of the company’s stock.

Institutional Investors Weigh In On Coupang

Hedge funds have recently modified their holdings of the business. Sumitomo Mitsui DS Asset Management Company Ltd lifted its stake in shares of Coupang by 4.6% in the third quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 7,436 shares of the company’s stock worth $239,000 after buying an additional 330 shares in the last quarter. California State Teachers Retirement System raised its holdings in Coupang by 0.5% in the 3rd quarter. California State Teachers Retirement System now owns 78,679 shares of the company’s stock valued at $2,533,000 after acquiring an additional 361 shares during the last quarter. CIBC Asset Management Inc lifted its stake in Coupang by 0.6% in the 3rd quarter. CIBC Asset Management Inc now owns 65,029 shares of the company’s stock worth $2,094,000 after purchasing an additional 364 shares in the last quarter. Resonant Capital Advisors LLC boosted its holdings in shares of Coupang by 2.9% during the 3rd quarter. Resonant Capital Advisors LLC now owns 13,088 shares of the company’s stock worth $421,000 after purchasing an additional 374 shares during the last quarter. Finally, Merit Financial Group LLC boosted its holdings in shares of Coupang by 2.7% during the 3rd quarter. Merit Financial Group LLC now owns 15,862 shares of the company’s stock worth $511,000 after purchasing an additional 418 shares during the last quarter. 83.72% of the stock is currently owned by institutional investors and hedge funds.

Coupang Company Profile

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.