Coupang, Inc. (NYSE:CPNG) Given Consensus Rating of “Hold” by Analysts

Coupang, Inc. (NYSE:CPNG) has been assigned an average recommendation of “Hold” from the twelve research firms that are presently covering the company, MarketBeat.com reports. Two analysts have rated the stock with a sell recommendation, five have assigned a hold recommendation and five have given a buy recommendation to the company. The average 12-month price objective among brokerages that have issued a report on the stock in the last year is $26.0167.

Several brokerages recently issued reports on CPNG. The Goldman Sachs Group set a $31.00 target price on shares of Coupang in a research note on Thursday. Barclays reiterated an “overweight” rating and set a $29.00 price objective on shares of Coupang in a report on Tuesday, July 7th. Wall Street Zen downgraded Coupang from a “hold” rating to a “strong sell” rating in a report on Saturday, March 14th. Citigroup downgraded shares of Coupang from a “buy” rating to a “neutral” rating and reduced their price target for the company from $23.00 to $22.20 in a research report on Wednesday, May 6th. Finally, Deutsche Bank Aktiengesellschaft lowered shares of Coupang from a “buy” rating to a “hold” rating and set a $23.00 price target for the company. in a research note on Wednesday, May 6th.

Institutional Investors Weigh In On Coupang

A number of institutional investors and hedge funds have recently made changes to their positions in CPNG. EverSource Wealth Advisors LLC boosted its stake in Coupang by 72.6% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 3,316 shares of the company’s stock valued at $99,000 after purchasing an additional 1,395 shares during the last quarter. Baird Financial Group Inc. raised its stake in shares of Coupang by 52.8% in the second quarter. Baird Financial Group Inc. now owns 23,471 shares of the company’s stock worth $703,000 after purchasing an additional 8,107 shares during the last quarter. Cerity Partners LLC lifted its holdings in shares of 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 purchasing an additional 14,703 shares in the last quarter. State Street Corp lifted its holdings in shares of 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 purchasing an additional 1,210,801 shares in the last quarter. Finally, AXA S.A. purchased a new position in shares of Coupang during the second quarter valued at approximately $411,000. Institutional investors and hedge funds own 83.72% of the company’s stock.

Coupang Trading Down 1.9%

CPNG traded down $0.35 during trading on Friday, hitting $18.80. The company’s stock had a trading volume of 12,735,403 shares, compared to its average volume of 18,898,428. Coupang has a twelve month low of $14.92 and a twelve month high of $34.08. The company has a quick ratio of 0.76, a current ratio of 0.97 and a debt-to-equity ratio of 0.16. The stock’s fifty day moving average price is $17.14 and its 200-day moving average price is $19.05. The firm has a market capitalization of $33.76 billion, a P/E ratio of -208.92 and a beta of 1.11.

Coupang (NYSE:CPNG) last announced its quarterly earnings data on Tuesday, May 5th. The company reported ($0.15) EPS for the quarter, missing the consensus estimate of ($0.09) by ($0.06). The company had revenue of $8.50 billion for the quarter, compared to analyst estimates of $8.48 billion. Coupang had a negative return on equity of 3.67% and a negative net margin of 0.47%.The business’s quarterly revenue was up 7.5% compared to the same quarter last year. During the same period last year, the business earned $0.06 EPS. Analysts anticipate that Coupang will post -0.33 EPS 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.