Coupang, Inc. (NYSE:CPNG) Receives $26.70 Consensus PT from Brokerages

Shares of Coupang, Inc. (NYSE:CPNG) have received a consensus recommendation of “Hold” from the eleven research firms that are covering the firm, Marketbeat reports. Two investment analysts have rated the stock with a sell rating, three have given a hold rating and six have given a buy rating to the company. The average 12-month target price among brokerages that have updated their coverage on the stock in the last year is $26.70.

Several research analysts have recently weighed in on the company. Nomura reduced their target price on Coupang from $22.00 to $20.00 and set a “neutral” rating for the company in a research note on Monday, March 2nd. Deutsche Bank Aktiengesellschaft raised shares of Coupang from a “hold” rating to a “buy” rating and set a $25.00 price target on the stock in a research note on Friday, January 16th. Morgan Stanley reduced their price objective on shares of Coupang from $31.00 to $29.00 and set an “overweight” rating for the company in a research report on Monday, March 2nd. UBS Group set a $25.00 price objective on shares of Coupang in a 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.

Insiders Place Their Bets

In related news, CAO Jonathan D. Lee sold 2,679 shares of Coupang stock in a transaction dated Friday, January 2nd. The stock was sold at an average price of $23.62, for a total value of $63,277.98. Following the sale, the chief accounting officer directly owned 122,096 shares in the company, valued at approximately $2,883,907.52. The trade was a 2.15% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 12.78% of the company’s stock.

Hedge Funds Weigh In On Coupang

Several hedge funds and other institutional investors have recently made changes to their positions in CPNG. Massachusetts Financial Services Co. MA raised its position in shares of Coupang by 2.9% in the third quarter. Massachusetts Financial Services Co. MA now owns 11,215,142 shares of the company’s stock valued at $361,128,000 after buying an additional 318,115 shares during the last quarter. TRB Advisors LP acquired a new position in Coupang during the third quarter worth about $1,863,000. New York State Common Retirement Fund boosted its position in Coupang by 18.5% during the third quarter. New York State Common Retirement Fund now owns 728,861 shares of the company’s stock worth $23,469,000 after acquiring an additional 113,950 shares during the last quarter. Rit Capital Partners PLC grew its stake in Coupang by 3.5% during the 3rd quarter. Rit Capital Partners PLC now owns 2,700,750 shares of the company’s stock valued at $86,937,000 after acquiring an additional 91,550 shares in the last quarter. Finally, Vanguard Group Inc. grew its stake in Coupang by 343.5% during the 3rd quarter. Vanguard Group Inc. now owns 28,595,825 shares of the company’s stock valued at $920,786,000 after acquiring an additional 22,147,432 shares in the last quarter. Hedge funds and other institutional investors own 83.72% of the company’s stock.

Coupang Price Performance

Shares of Coupang stock opened at $18.77 on Monday. The firm has a market cap of $34.28 billion, a PE ratio of 156.39 and a beta of 1.20. Coupang has a twelve month low of $16.74 and a twelve month high of $34.08. The company has a quick ratio of 0.79, a current ratio of 1.04 and a debt-to-equity ratio of 0.14. The business has a 50-day moving average price of $19.78 and a 200 day moving average price of $25.87.

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

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.