Coupang, Inc. (NYSE:CPNG) Given Average Rating of “Moderate Buy” by Brokerages

Shares of Coupang, Inc. (NYSE:CPNG) have been assigned an average recommendation of “Moderate Buy” from the eight research firms that are covering the firm, MarketBeat Ratings reports. One analyst has rated the stock with a hold rating and seven have given a buy rating to the company. The average twelve-month target price among analysts that have issued ratings on the stock in the last year is $27.25.

A number of research firms recently weighed in on CPNG. Morgan Stanley lifted their target price on Coupang from $26.00 to $27.00 and gave the stock an “overweight” rating in a research report on Wednesday, June 26th. CLSA upgraded shares of Coupang from a “hold” rating to an “outperform” rating and lifted their target price for the company from $18.00 to $31.00 in a research note on Wednesday, September 4th.

Insider Buying and Selling

In other Coupang news, insider Pranam Kolari sold 10,432 shares of Coupang stock in a transaction on Friday, August 2nd. The shares were sold at an average price of $19.90, for a total transaction of $207,596.80. Following the completion of the sale, the insider now owns 170,356 shares of the company’s stock, valued at approximately $3,390,084.40. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Coupang news, insider Pranam Kolari sold 10,432 shares of the business’s stock in a transaction dated Friday, August 2nd. The stock was sold at an average price of $19.90, for a total value of $207,596.80. Following the completion of the transaction, the insider now directly owns 170,356 shares of the company’s stock, valued at approximately $3,390,084.40. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Gaurav Anand sold 200,000 shares of the firm’s stock in a transaction dated Tuesday, August 13th. The stock was sold at an average price of $22.75, for a total value of $4,550,000.00. Following the sale, the chief financial officer now directly owns 1,937,500 shares in the company, valued at approximately $44,078,125. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders purchased 601,300 shares of company stock worth $13,604,354 and sold 411,388 shares worth $9,452,761. 13.60% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Coupang

A number of large investors have recently added to or reduced their stakes in the company. Baillie Gifford & Co. boosted its position in Coupang by 15.9% during the first quarter. Baillie Gifford & Co. now owns 168,600,998 shares of the company’s stock valued at $2,999,412,000 after purchasing an additional 23,076,870 shares during the last quarter. Price T Rowe Associates Inc. MD boosted its holdings in shares of Coupang by 31.5% during the first quarter. Price T Rowe Associates Inc. MD now owns 78,865,294 shares of the company’s stock worth $1,403,015,000 after acquiring an additional 18,894,909 shares during the period. Envestnet Asset Management Inc. boosted its holdings in shares of Coupang by 2,570.0% during the second quarter. Envestnet Asset Management Inc. now owns 2,049,227 shares of the company’s stock worth $42,931,000 after acquiring an additional 1,972,476 shares during the period. Assenagon Asset Management S.A. boosted its holdings in shares of Coupang by 55.5% during the second quarter. Assenagon Asset Management S.A. now owns 4,524,994 shares of the company’s stock worth $94,799,000 after acquiring an additional 1,615,448 shares during the period. Finally, Coronation Fund Managers Ltd. boosted its holdings in shares of Coupang by 146.2% during the first quarter. Coronation Fund Managers Ltd. now owns 2,688,450 shares of the company’s stock worth $47,828,000 after acquiring an additional 1,596,486 shares during the period. Institutional investors own 83.72% of the company’s stock.

Coupang Trading Up 1.9 %

Shares of NYSE:CPNG opened at $24.59 on Monday. The company has a market cap of $43.97 billion, a P/E ratio of 35.13, a P/E/G ratio of 181.74 and a beta of 1.11. The stock’s 50-day moving average is $22.82 and its 200-day moving average is $21.71. Coupang has a 52-week low of $13.51 and a 52-week high of $25.19. The company has a debt-to-equity ratio of 0.72, a quick ratio of 0.87 and a current ratio of 1.12.

Coupang (NYSE:CPNG) last released its earnings results on Tuesday, August 6th. The company reported $0.07 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.01) by $0.08. Coupang had a return on equity of 12.04% and a net margin of 3.87%. The business had revenue of $7.32 billion for the quarter, compared to the consensus estimate of $7.39 billion. During the same period last year, the business earned $0.08 earnings per share. The firm’s revenue for the quarter was up 25.4% compared to the same quarter last year. Equities research analysts predict that Coupang will post 0.14 earnings per share for the current year.

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.