Coupang (NYSE:CPNG) Stock Rating Upgraded by Citigroup

Citigroup upgraded shares of Coupang (NYSE:CPNG) from a neutral rating to a buy rating in a report issued on Monday morning, Marketbeat.com reports. Citigroup currently has $26.00 target price on the stock, up from their previous target price of $19.00.

Several other research firms have also recently issued reports on CPNG. Deutsche Bank Aktiengesellschaft raised Coupang from a hold rating to a buy rating and raised their target price for the stock from $18.50 to $21.00 in a research note on Thursday, February 29th. TheStreet raised Coupang from a d+ rating to a c- rating in a research note on Tuesday, March 5th. Barclays raised their price target on Coupang from $24.00 to $25.00 and gave the stock an overweight rating in a research report on Thursday, February 29th. Finally, UBS Group lowered Coupang from a buy rating to a neutral rating and lowered their price target for the stock from $26.00 to $18.50 in a research report on Wednesday, December 20th. One analyst has rated the stock with a hold rating and three have given a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of Moderate Buy and an average price target of $22.42.

Coupang Price Performance

NYSE:CPNG opened at $22.31 on Monday. Coupang has a one year low of $13.51 and a one year high of $22.89. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.90 and a current ratio of 1.14. The stock has a market cap of $40.01 billion, a PE ratio of 29.75 and a beta of 1.32. The stock has a 50 day moving average price of $18.08 and a 200 day moving average price of $16.77.

Coupang (NYSE:CPNG) last posted its quarterly earnings results on Tuesday, February 27th. The company reported $0.08 EPS for the quarter, beating the consensus estimate of $0.05 by $0.03. The firm had revenue of $6.56 billion during the quarter, compared to analysts’ expectations of $6.40 billion. Coupang had a return on equity of 15.04% and a net margin of 5.57%. The business’s revenue for the quarter was up 23.2% on a year-over-year basis. During the same quarter last year, the firm earned $0.06 earnings per share. Equities research analysts expect that Coupang will post 0.32 EPS for the current fiscal year.

Insider Transactions at Coupang

In related news, insider Harold Rogers sold 139,080 shares of Coupang stock in a transaction on Monday, March 18th. The stock was sold at an average price of $18.25, for a total value of $2,538,210.00. Following the completion of the transaction, the insider now directly owns 394,192 shares in the company, valued at $7,194,004. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In related news, insider Harold Rogers sold 139,080 shares of Coupang stock in a transaction on Monday, March 18th. The stock was sold at an average price of $18.25, for a total value of $2,538,210.00. Following the completion of the transaction, the insider now directly owns 394,192 shares in the company, valued at $7,194,004. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Pranam Kolari sold 2,356 shares of Coupang stock in a transaction on Friday, February 2nd. The shares were sold at an average price of $13.88, for a total value of $32,701.28. Following the completion of the transaction, the insider now owns 182,844 shares of the company’s stock, valued at $2,537,874.72. The disclosure for this sale can be found here. Insiders sold a total of 33,355,590 shares of company stock worth $633,443,979 over the last ninety days. Company insiders own 14.90% of the company’s stock.

Institutional Trading of Coupang

A number of institutional investors have recently bought and sold shares of CPNG. Baillie Gifford & Co. lifted its holdings in Coupang by 21.6% during the 4th quarter. Baillie Gifford & Co. now owns 145,524,128 shares of the company’s stock worth $2,356,036,000 after buying an additional 25,843,034 shares during the last quarter. Norges Bank purchased a new stake in Coupang during the 4th quarter worth about $250,714,000. Viking Global Investors LP increased its position in shares of Coupang by 255.2% during the fourth quarter. Viking Global Investors LP now owns 15,494,869 shares of the company’s stock worth $250,862,000 after purchasing an additional 11,132,325 shares in the last quarter. Pacer Advisors Inc. increased its position in shares of Coupang by 104,032.2% during the fourth quarter. Pacer Advisors Inc. now owns 10,944,299 shares of the company’s stock worth $177,188,000 after purchasing an additional 10,933,789 shares in the last quarter. Finally, State Street Corp increased its position in shares of Coupang by 800.8% during the second quarter. State Street Corp now owns 11,856,947 shares of the company’s stock worth $206,311,000 after purchasing an additional 10,540,635 shares in the last quarter. 83.72% of the stock is owned by hedge funds and other institutional investors.

Coupang Company Profile

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.