Coupang (NYSE:CPNG) Upgraded to Buy at Citigroup

Citigroup upgraded shares of Coupang (NYSE:CPNG) from a neutral rating to a buy rating in a research note published on Monday, Marketbeat Ratings reports. Citigroup currently has $26.00 target price on the stock, up from their prior target price of $19.00.

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

Coupang Stock Performance

Shares of CPNG opened at $22.63 on Monday. The business’s fifty day moving average price is $17.92 and its 200 day moving average price is $16.73. Coupang has a 12-month low of $13.51 and a 12-month high of $22.89. The stock has a market capitalization of $40.57 billion, a PE ratio of 30.17 and a beta of 1.32. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.14 and a quick ratio of 0.90.

Coupang (NYSE:CPNG) last announced its quarterly earnings data on Tuesday, February 27th. The company reported $0.08 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.05 by $0.03. Coupang had a return on equity of 15.04% and a net margin of 5.57%. The firm had revenue of $6.56 billion for the quarter, compared to analysts’ expectations of $6.40 billion. During the same period last year, the business posted $0.06 earnings per share. The firm’s revenue for the quarter was up 23.2% on a year-over-year basis. Equities research analysts forecast that Coupang will post 0.29 EPS for the current year.

Insider Activity at Coupang

In related news, insider Pranam Kolari sold 2,356 shares of Coupang stock in a transaction dated Friday, February 2nd. The shares were sold at an average price of $13.88, for a total transaction of $32,701.28. Following the sale, the insider now directly owns 182,844 shares in the company, valued at $2,537,874.72. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In related news, major shareholder Svf Investments (Uk) Ltd sold 31,614,154 shares of Coupang stock in a transaction dated Tuesday, March 12th. The stock was sold at an average price of $19.01, for a total transaction of $600,985,067.54. Following the transaction, the insider now directly owns 364,542,259 shares of the company’s stock, valued at $6,929,948,343.59. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, insider Pranam Kolari sold 2,356 shares of Coupang stock in a transaction dated Friday, February 2nd. The stock was sold at an average price of $13.88, for a total value of $32,701.28. Following the transaction, the insider now directly owns 182,844 shares in the company, valued at $2,537,874.72. The disclosure for this sale can be found here. Insiders have sold a total of 33,355,590 shares of company stock worth $633,443,979 over the last ninety days. 14.90% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the company. Envestnet Asset Management Inc. grew its holdings in Coupang by 2.6% during the second quarter. Envestnet Asset Management Inc. now owns 26,558 shares of the company’s stock worth $462,000 after acquiring an additional 665 shares during the period. Private Advisor Group LLC increased its stake in Coupang by 1.6% in the 4th quarter. Private Advisor Group LLC now owns 47,052 shares of the company’s stock worth $762,000 after purchasing an additional 760 shares in the last quarter. CIBC Asset Management Inc increased its stake in Coupang by 2.3% in the 3rd quarter. CIBC Asset Management Inc now owns 39,502 shares of the company’s stock worth $672,000 after purchasing an additional 899 shares in the last quarter. Raymond James & Associates increased its stake in Coupang by 1.2% in the 4th quarter. Raymond James & Associates now owns 87,812 shares of the company’s stock worth $1,422,000 after purchasing an additional 1,031 shares in the last quarter. Finally, Johnson Investment Counsel Inc. increased its stake in Coupang by 1.5% in the 4th quarter. Johnson Investment Counsel Inc. now owns 73,612 shares of the company’s stock worth $1,192,000 after purchasing an additional 1,080 shares in the last quarter. 83.72% of the stock is owned by institutional investors and hedge funds.

About Coupang

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.