Brokerages Set Coupang, Inc. (NYSE:CPNG) PT at $26.65

Shares of Coupang, Inc. (NYSE:CPNG) have received an average rating of “Hold” from the twelve brokerages that are presently covering the firm, MarketBeat.com reports. Two investment analysts have rated the stock with a sell rating, five have assigned a hold rating and five have assigned a buy rating to the company. The average 12 month price target among brokerages that have issued ratings on the stock in the last year is $26.6545.

CPNG has been the topic of several recent research reports. CLSA initiated coverage on shares of Coupang in a research report on Monday, June 15th. They set an “outperform” rating and a $24.00 price target on the stock. Morgan Stanley lowered their price target on shares of Coupang from $31.00 to $29.00 and set an “overweight” rating on the stock in a research report on Monday, March 2nd. Weiss Ratings cut shares of Coupang from a “sell (d+)” rating to a “sell (d)” rating in a research report on Thursday, May 7th. Sanford C. Bernstein reissued an “underperform” rating on shares of Coupang in a research report on Monday, March 2nd. Finally, Wall Street Zen cut shares of Coupang from a “hold” rating to a “strong sell” rating in a research report on Saturday, March 14th.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of CPNG. EverSource Wealth Advisors LLC lifted its position in Coupang by 72.6% in the second quarter. EverSource Wealth Advisors LLC now owns 3,316 shares of the company’s stock valued at $99,000 after buying an additional 1,395 shares during the last quarter. Baird Financial Group Inc. lifted its position in Coupang by 52.8% in the second quarter. Baird Financial Group Inc. now owns 23,471 shares of the company’s stock valued at $703,000 after buying an additional 8,107 shares during the last quarter. Cerity Partners LLC lifted its position in Coupang by 48.1% in the second quarter. Cerity Partners LLC now owns 45,252 shares of the company’s stock valued at $1,356,000 after buying an additional 14,703 shares during the last quarter. State Street Corp lifted its position in Coupang by 8.4% in the second quarter. State Street Corp now owns 15,641,775 shares of the company’s stock valued at $468,628,000 after buying an additional 1,210,801 shares during the last quarter. Finally, AXA S.A. acquired a new position in Coupang in the second quarter valued at about $411,000. Institutional investors and hedge funds own 83.72% of the company’s stock.

Coupang Trading Up 1.0%

Shares of CPNG stock opened at $17.48 on Wednesday. The company’s 50-day moving average price is $17.80 and its 200-day moving average price is $19.64. The company has a current ratio of 0.97, a quick ratio of 0.76 and a debt-to-equity ratio of 0.16. The stock has a market cap of $31.38 billion, a price-to-earnings ratio of -194.20 and a beta of 1.13. Coupang has a twelve month low of $14.92 and a twelve month high of $34.08.

Coupang (NYSE:CPNG) last announced its quarterly earnings results on Tuesday, May 5th. The company reported ($0.15) earnings per share for the quarter, missing the consensus estimate of ($0.09) by ($0.06). The firm had revenue of $8.50 billion for the quarter, compared to analyst estimates of $8.48 billion. Coupang had a negative net margin of 0.47% and a negative return on equity of 3.67%. The company’s revenue was up 7.5% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.06 EPS. As a group, equities analysts predict that Coupang will post -0.17 earnings per share for the current 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.