Coupang (NYSE:CPNG) Price Target Raised to $32.00

Coupang (NYSE:CPNG) had its price objective upped by investment analysts at Mizuho from $30.00 to $32.00 in a research note issued to investors on Thursday,Benzinga reports. The brokerage currently has a “neutral” rating on the stock. Mizuho’s price objective would suggest a potential upside of 9.57% from the company’s current price.

Several other brokerages also recently commented on CPNG. Arete Research began coverage on Coupang in a research report on Thursday, September 18th. They issued a “buy” rating and a $40.00 price target on the stock. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Coupang in a research report on Wednesday, October 8th. Deutsche Bank Aktiengesellschaft downgraded Coupang from a “buy” rating to a “hold” rating and set a $27.00 price target on the stock. in a research report on Wednesday, August 6th. Morgan Stanley boosted 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. Finally, Nomura raised Coupang from a “neutral” rating to a “buy” rating and set a $35.00 target price for the company in a research report on Wednesday, August 6th. One research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and four have given a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $34.56.

Coupang Stock Performance

Shares of CPNG stock traded down $1.02 during trading on Thursday, reaching $29.21. The company had a trading volume of 6,370,692 shares, compared to its average volume of 9,994,090. The firm’s 50 day simple moving average is $31.60 and its two-hundred day simple moving average is $29.29. The company has a debt-to-equity ratio of 0.18, a current ratio of 1.09 and a quick ratio of 0.84. Coupang has a one year low of $19.02 and a one year high of $34.08. The company has a market capitalization of $53.24 billion, a PE ratio of 138.22 and a beta of 1.17.

Coupang (NYSE:CPNG) last issued its quarterly earnings data on Tuesday, November 4th. The company reported $0.05 earnings per share for the quarter, beating analysts’ consensus estimates of $0.04 by $0.01. Coupang had a return on equity of 7.09% and a net margin of 1.16%.The business had revenue of $9.27 billion for the quarter, compared to the consensus estimate of $9.13 billion. During the same period last year, the business earned $0.06 EPS. The firm’s revenue was up 17.8% compared to the same quarter last year. Sell-side analysts forecast that Coupang will post 0.17 earnings per share for the current year.

Insiders Place Their Bets

In other Coupang news, CFO Gaurav Anand sold 75,350 shares of the business’s stock in a transaction on Monday, August 11th. The stock was sold at an average price of $27.79, for a total value of $2,093,976.50. Following the transaction, the chief financial officer owned 2,016,940 shares of the company’s stock, valued at approximately $56,050,762.60. The trade was a 3.60% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Pedro Franceschi sold 21,428 shares of the business’s stock in a transaction on Thursday, September 11th. The stock was sold at an average price of $32.05, for a total value of $686,767.40. The disclosure for this sale is available in the SEC filing. Insiders have sold 988,983 shares of company stock worth $31,237,061 over the last quarter. Corporate insiders own 12.78% of the company’s stock.

Hedge Funds Weigh In On Coupang

Several large investors have recently made changes to their positions in the company. Dodge & Cox lifted its stake in shares of Coupang by 14.3% during the second quarter. Dodge & Cox now owns 46,614,520 shares of the company’s stock valued at $1,396,571,000 after acquiring an additional 5,829,600 shares during the period. Durable Capital Partners LP lifted its stake in shares of Coupang by 7.5% during the second quarter. Durable Capital Partners LP now owns 24,743,982 shares of the company’s stock valued at $741,330,000 after acquiring an additional 1,734,980 shares during the period. Norges Bank acquired a new position in shares of Coupang during the second quarter valued at $587,186,000. Holocene Advisors LP lifted its stake in shares of Coupang by 24.5% during the second quarter. Holocene Advisors LP now owns 15,689,845 shares of the company’s stock valued at $470,068,000 after acquiring an additional 3,083,854 shares during the period. Finally, State Street Corp lifted its stake in shares of Coupang by 8.4% during the second quarter. State Street Corp now owns 15,641,775 shares of the company’s stock valued at $468,628,000 after acquiring an additional 1,210,801 shares during the period. 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.