Coupang (NYSE:CPNG) Price Target Lowered to $29.00 at Morgan Stanley

Coupang (NYSE:CPNG) had its price target lowered by equities researchers at Morgan Stanley from $31.00 to $29.00 in a report released on Monday,MarketScreener reports. The brokerage currently has an “overweight” rating on the stock. Morgan Stanley’s target price points to a potential upside of 58.41% from the company’s current price.

CPNG has been the topic of a number of other research reports. Nomura lowered shares of Coupang from a “buy” rating to a “neutral” rating and set a $22.00 price target on the stock. in a report on Monday, January 12th. Sanford C. Bernstein reiterated an “underperform” rating on shares of Coupang in a report on Monday. Mizuho cut their target price on Coupang from $32.00 to $25.00 and set a “neutral” rating on the stock in a research note on Friday. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Coupang in a report on Wednesday, January 21st. Finally, Bank of America boosted their price objective on Coupang from $36.00 to $38.00 and gave the stock a “buy” rating in a research note on Wednesday, November 5th. Six equities research analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $26.70.

Coupang Trading Down 4.1%

Shares of CPNG stock opened at $18.31 on Monday. The company has a market capitalization of $33.44 billion, a price-to-earnings ratio of 152.66 and a beta of 1.20. The company has a current ratio of 1.04, a quick ratio of 0.79 and a debt-to-equity ratio of 0.14. The firm has a 50-day moving average price of $20.45 and a 200 day moving average price of $26.38. Coupang has a twelve month low of $16.74 and a twelve month high of $34.08.

Coupang (NYSE:CPNG) last issued its quarterly earnings results on Thursday, February 26th. The company reported ($0.01) EPS for the quarter, missing analysts’ consensus estimates of $0.02 by ($0.03). The firm had revenue of $8.84 billion for the quarter, compared to analysts’ expectations of $9.12 billion. Coupang had a return on equity of 4.52% and a net margin of 0.60%.The business’s quarterly revenue was up 10.9% compared to the same quarter last year. During the same quarter last year, the firm earned $0.04 earnings per share. Research analysts forecast that Coupang will post 0.17 earnings per share for the current fiscal year.

Insider Activity

In related news, CAO Jonathan D. Lee sold 2,679 shares of the company’s stock in a transaction on Friday, January 2nd. The stock was sold at an average price of $23.62, for a total value of $63,277.98. Following the completion of the transaction, the chief accounting officer directly owned 122,096 shares in the company, valued at approximately $2,883,907.52. This represents a 2.15% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Corporate insiders own 12.78% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of CPNG. Dodge & Cox increased its position in Coupang by 4.9% in the 4th quarter. Dodge & Cox now owns 49,233,320 shares of the company’s stock valued at $1,161,414,000 after acquiring an additional 2,285,600 shares in the last quarter. Capital International Investors boosted its stake in shares of Coupang by 20.4% in the 4th quarter. Capital International Investors now owns 41,131,036 shares of the company’s stock valued at $970,340,000 after purchasing an additional 6,977,942 shares during the last quarter. Vanguard Group Inc. raised its stake in shares of Coupang by 3.3% during the fourth quarter. Vanguard Group Inc. now owns 29,547,637 shares of the company’s stock worth $697,029,000 after buying an additional 951,812 shares during the last quarter. Tiger Global Management LLC lifted its holdings in Coupang by 65.9% in the fourth quarter. Tiger Global Management LLC now owns 26,267,259 shares of the company’s stock valued at $619,645,000 after buying an additional 10,429,680 shares during the period. Finally, Durable Capital Partners LP boosted its stake in Coupang by 0.4% in the third quarter. Durable Capital Partners LP now owns 24,833,189 shares of the company’s stock valued at $799,629,000 after acquiring an additional 89,207 shares during the last quarter. 83.72% of the stock is currently owned by institutional investors and hedge funds.

Coupang Company Profile

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.