Coupang (NYSE:CPNG) Coverage Initiated at Bank of America

Bank of America assumed coverage on shares of Coupang (NYSE:CPNG) in a research report issued to clients and investors on Friday, StockNewsAPI reports. The firm set a “buy” rating and a $30.00 price target on the stock. Bank of America‘s target price would suggest a potential upside of 30.43% from the stock’s current price.

A number of other equities research analysts have also issued reports on CPNG. Citigroup raised shares of Coupang from a “neutral” rating to a “buy” rating and raised their price target for the stock from $19.00 to $26.00 in a report on Monday, April 15th. TheStreet upgraded Coupang from a “d+” rating to a “c-” rating in a report on Tuesday, March 5th. Barclays increased their price objective on Coupang from $24.00 to $25.00 and gave the stock an “overweight” rating in a report on Thursday, February 29th. Finally, Deutsche Bank Aktiengesellschaft raised Coupang from a “hold” rating to a “buy” rating and boosted their target price for the company from $18.50 to $21.00 in a research note on Thursday, February 29th. One analyst has rated the stock with a hold rating and four have given a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $23.75.

Coupang Trading Up 2.2 %

Shares of NYSE CPNG traded up $0.50 during midday trading on Friday, reaching $23.00. The company had a trading volume of 11,693,841 shares, compared to its average volume of 15,590,514. The stock has a market cap of $41.25 billion, a PE ratio of 30.67 and a beta of 1.13. Coupang has a one year low of $13.51 and a one year high of $23.40. The firm’s fifty day moving average price is $19.65 and its 200-day moving average price is $17.17. The company has a quick ratio of 0.90, a current ratio of 1.14 and a debt-to-equity ratio of 0.13.

Coupang (NYSE:CPNG) last announced its quarterly earnings data on Tuesday, February 27th. The company reported $0.08 earnings per share for the quarter, beating 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 during the quarter, compared to the consensus estimate of $6.40 billion. During the same quarter in the previous year, the company posted $0.06 earnings per share. The business’s revenue was up 23.2% on a year-over-year basis. On average, equities research analysts anticipate that Coupang will post 0.35 earnings per share for the current year.

Insiders Place Their Bets

In other Coupang news, insider Pranam Kolari sold 2,048 shares of the stock in a transaction on Thursday, May 2nd. The stock was sold at an average price of $22.34, for a total value of $45,752.32. Following the completion of the transaction, the insider now owns 187,951 shares in the company, valued at $4,198,825.34. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. In related news, insider Pranam Kolari sold 2,048 shares of the business’s stock in a transaction dated Thursday, May 2nd. The shares were sold at an average price of $22.34, for a total transaction of $45,752.32. Following the sale, the insider now owns 187,951 shares of the company’s stock, valued at $4,198,825.34. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, major shareholder Svf Investments (Uk) Ltd sold 31,614,154 shares of the firm’s stock in a transaction that occurred on Tuesday, March 12th. The shares were 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 approximately $6,929,948,343.59. The disclosure for this sale can be found here. In the last quarter, insiders have sold 33,355,282 shares of company stock worth $633,457,030. Company insiders own 14.90% of the company’s stock.

Institutional Investors Weigh In On Coupang

Hedge funds have recently added to or reduced their stakes in the stock. Simplicity Solutions LLC raised its position in shares of Coupang by 23.5% in the 3rd quarter. Simplicity Solutions LLC now owns 15,420 shares of the company’s stock worth $262,000 after purchasing an additional 2,938 shares during the last quarter. Xponance Inc. raised its holdings in Coupang by 1.7% in the third quarter. Xponance Inc. now owns 154,938 shares of the company’s stock worth $2,634,000 after buying an additional 2,566 shares during the last quarter. Bank of New York Mellon Corp lifted its stake in shares of Coupang by 3.3% in the third quarter. Bank of New York Mellon Corp now owns 2,632,070 shares of the company’s stock worth $44,745,000 after buying an additional 84,353 shares in the last quarter. Mackenzie Financial Corp purchased a new stake in shares of Coupang during the third quarter valued at approximately $1,590,000. Finally, TD Asset Management Inc increased its position in shares of Coupang by 3.0% during the third quarter. TD Asset Management Inc now owns 402,380 shares of the company’s stock valued at $6,840,000 after acquiring an additional 11,874 shares in the last quarter. 83.72% of the stock is owned by 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.