Morgan Stanley Has Lowered Expectations for Coupang (NYSE:CPNG) Stock Price

Coupang (NYSE:CPNG) had its price objective cut by investment analysts at Morgan Stanley from $31.00 to $29.00 in a research report issued to clients and investors on Monday,MarketScreener reports. The firm presently has an “overweight” rating on the stock. Morgan Stanley’s price objective suggests a potential upside of 50.96% from the stock’s previous close.

A number of other research analysts have also recently weighed in on CPNG. Barclays cut their price objective on shares of Coupang from $40.00 to $23.00 and set an “overweight” rating on the stock in a research report on Thursday, February 19th. Bank of America upped their price target on shares of Coupang from $36.00 to $38.00 and gave the company a “buy” rating in a report on Wednesday, November 5th. Citigroup reduced their price objective on shares of Coupang from $27.00 to $24.00 and set a “buy” rating on the stock in a research report on Tuesday, February 10th. Deutsche Bank Aktiengesellschaft upgraded Coupang from a “hold” rating to a “buy” rating and set a $25.00 target price for the company in a research report on Friday, January 16th. Finally, Zacks Research raised Coupang from a “strong sell” rating to a “hold” rating in a research note on Tuesday, November 4th. Six equities research analysts have rated the stock with a Buy rating, three have given a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat, Coupang has a consensus rating of “Hold” and a consensus price target of $26.70.

Coupang Price Performance

NYSE:CPNG opened at $19.21 on Monday. The firm 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 business has a 50 day simple moving average of $20.34 and a 200-day simple moving average of $26.26. 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 released 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). Coupang had a net margin of 0.60% and a return on equity of 4.52%. The company had revenue of $8.84 billion for the quarter, compared to the consensus estimate of $9.12 billion. During the same period in the prior year, the firm posted $0.04 EPS. The business’s revenue for the quarter was up 10.9% compared to the same quarter last year. Equities analysts forecast that Coupang will post 0.17 EPS for the current year.

Insider Activity at Coupang

In other news, CAO Jonathan D. Lee sold 2,679 shares of Coupang stock in a transaction that occurred 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 completion of the sale, the chief accounting officer owned 122,096 shares of the company’s stock, valued at approximately $2,883,907.52. The trade was a 2.15% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Company insiders own 12.78% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the company. Sunbelt Securities Inc. purchased a new stake in shares of Coupang in the 3rd quarter worth $26,000. Orion Capital Management LLC bought a new stake in shares of Coupang in the third quarter valued at about $32,000. Hilltop National Bank purchased a new stake in Coupang in the third quarter worth about $34,000. Fifth Third Bancorp lifted its stake in Coupang by 1,250.0% in the third quarter. Fifth Third Bancorp now owns 1,080 shares of the company’s stock worth $35,000 after acquiring an additional 1,000 shares during the period. Finally, Reflection Asset Management bought a new position in Coupang during the 4th quarter worth about $28,000. Institutional investors own 83.72% of the company’s stock.

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.