Coupang (NYSE:CPNG) Given New $23.00 Price Target at Mizuho

Coupang (NYSE:CPNG) had its price objective boosted by Mizuho from $20.00 to $23.00 in a research note published on Wednesday, Benzinga reports. They currently have a neutral rating on the stock.

Other analysts have also issued research reports about the stock. Bank of America began coverage on shares of Coupang in a research report on Friday, May 3rd. They issued a buy rating and a $30.00 price objective on the stock. Barclays raised their price objective on Coupang from $24.00 to $25.00 and gave the company an overweight rating in a report on Thursday, February 29th. Deutsche Bank Aktiengesellschaft upgraded Coupang from a hold rating to a buy rating and upped their target price for the stock from $18.50 to $21.00 in a report on Thursday, February 29th. Citigroup upgraded Coupang from a neutral rating to a buy rating and raised their price target for the company from $19.00 to $26.00 in a research note on Monday, April 15th. Finally, TheStreet upgraded Coupang from a d+ rating to a c- rating in a research note on Tuesday, March 5th. Two research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of Moderate Buy and an average target price of $24.25.

Coupang Stock Performance

CPNG opened at $21.47 on Wednesday. The company has a market capitalization of $38.50 billion, a price-to-earnings ratio of 28.63, a P/E/G ratio of 19.21 and a beta of 1.13. The business’s 50-day moving average price is $19.91 and its two-hundred day moving average price is $17.24. Coupang has a 1 year low of $13.51 and a 1 year high of $23.77. 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 posted its quarterly earnings data on Tuesday, May 7th. The company reported $0.05 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.06 by ($0.01). Coupang had a return on equity of 15.04% and a net margin of 5.57%. The firm had revenue of $7.11 billion for the quarter, compared to the consensus estimate of $6.95 billion. During the same quarter in the previous year, the business posted $0.05 earnings per share. The firm’s quarterly revenue was up 22.6% compared to the same quarter last year. Equities analysts expect that Coupang will post 0.35 EPS for the current fiscal year.

Insider Activity

In other Coupang news, major shareholder Svf Investments (Uk) Ltd sold 31,614,154 shares of Coupang stock in a transaction 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 completion of 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 document filed with the SEC, which is available at the SEC website. In other Coupang news, 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 completion of the sale, the insider now directly owns 364,542,259 shares in the company, valued at $6,929,948,343.59. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Pranam Kolari sold 2,048 shares of the company’s stock in a transaction that occurred on Thursday, May 2nd. The shares were 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 directly owns 187,951 shares in the company, valued at approximately $4,198,825.34. The disclosure for this sale can be found here. Insiders sold a total of 33,355,282 shares of company stock valued at $633,457,030 over the last three months. Insiders own 14.90% of the company’s stock.

Institutional Investors Weigh In On Coupang

A number of hedge funds and other institutional investors have recently modified their holdings of CPNG. Fortis Capital Advisors LLC bought a new position in Coupang during the first quarter worth about $295,000. Motley Fool Asset Management LLC grew its position in shares of Coupang by 7.9% during the 1st quarter. Motley Fool Asset Management LLC now owns 52,927 shares of the company’s stock worth $942,000 after purchasing an additional 3,875 shares in the last quarter. Bleakley Financial Group LLC increased its holdings in shares of Coupang by 17.9% during the first quarter. Bleakley Financial Group LLC now owns 17,880 shares of the company’s stock worth $318,000 after purchasing an additional 2,710 shares during the period. US Bancorp DE increased its holdings in shares of Coupang by 1,379.0% during the first quarter. US Bancorp DE now owns 209,951 shares of the company’s stock worth $3,735,000 after purchasing an additional 195,756 shares during the period. Finally, Russell Investments Group Ltd. raised its position in shares of Coupang by 9.1% in the first quarter. Russell Investments Group Ltd. now owns 2,249,822 shares of the company’s stock valued at $40,008,000 after buying an additional 188,167 shares in the last quarter. Institutional investors and hedge funds own 83.72% of the company’s stock.

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.