Bank of America Issues Positive Forecast for Coupang (NYSE:CPNG) Stock Price

Coupang (NYSE:CPNG) had its price target raised by Bank of America from $36.00 to $38.00 in a research note published on Wednesday,Benzinga reports. Bank of America currently has a buy rating on the stock.

CPNG has been the subject of a number of other research reports. Weiss Ratings reissued a “hold (c)” rating on shares of Coupang in a research report on Wednesday, October 8th. Morgan Stanley raised their price objective on Coupang from $32.00 to $35.00 and gave the company an “overweight” rating in a research report on Wednesday, August 20th. Nomura Securities raised Coupang to a “strong-buy” rating in a report on Wednesday, August 6th. Arete started coverage on Coupang in a research note on Thursday, September 18th. They issued a “buy” rating and a $40.00 price target on the stock. Finally, Deutsche Bank Aktiengesellschaft cut shares of Coupang from a “buy” rating to a “hold” rating and set a $27.00 price objective for the company. in a research report on Wednesday, August 6th. One analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, Coupang presently has an average rating of “Moderate Buy” and an average target price of $34.00.

Coupang Stock Performance

CPNG opened at $30.27 on Wednesday. The business’s 50-day simple moving average is $31.60 and its 200 day simple moving average is $29.29. Coupang has a 52-week low of $19.02 and a 52-week high of $34.08. The company has a debt-to-equity ratio of 0.18, a quick ratio of 0.84 and a current ratio of 1.09. The firm has a market capitalization of $55.18 billion, a PE ratio of 144.15 and a beta of 1.17.

Coupang (NYSE:CPNG) last announced its quarterly earnings data on Tuesday, November 4th. The company reported $0.05 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.04 by $0.01. The company had revenue of $9.27 billion for the quarter, compared to analysts’ expectations of $9.13 billion. Coupang had a return on equity of 7.09% and a net margin of 1.16%.The business’s revenue was up 17.8% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.06 EPS. As a group, sell-side analysts expect that Coupang will post 0.17 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, CFO Gaurav Anand sold 75,350 shares of the firm’s stock in a transaction dated Monday, August 11th. The shares were sold at an average price of $27.79, for a total transaction of $2,093,976.50. Following the transaction, the chief financial officer directly owned 2,016,940 shares of the company’s stock, valued at approximately $56,050,762.60. This trade represents a 3.60% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Pedro Franceschi sold 21,428 shares of Coupang stock in a transaction dated Thursday, September 11th. The stock was sold at an average price of $32.05, for a total transaction of $686,767.40. The SEC filing for this sale provides additional information. Insiders sold a total of 988,983 shares of company stock valued at $31,237,061 in the last three months. Insiders own 12.78% of the company’s stock.

Hedge Funds Weigh In On Coupang

Hedge funds have recently added to or reduced their stakes in the stock. SVB Wealth LLC bought a new stake in shares of Coupang during the 1st quarter valued at $28,000. Bank Julius Baer & Co. Ltd Zurich acquired a new position in Coupang in the first quarter valued at about $30,000. Albion Financial Group UT bought a new stake in Coupang during the second quarter worth about $30,000. Orion Capital Management LLC acquired a new stake in Coupang during the third quarter worth about $32,000. Finally, Hilltop National Bank bought a new position in Coupang in the 3rd quarter valued at about $34,000. Institutional investors own 83.72% of the company’s stock.

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.