Barclays Forecasts Strong Price Appreciation for Coupang (NYSE:CPNG) Stock

Coupang (NYSE:CPNG) had its price target boosted by Barclays from $32.00 to $34.00 in a research report issued to clients and investors on Wednesday,Benzinga reports. The brokerage currently has an “overweight” rating on the stock. Barclays‘s price target would suggest a potential upside of 36.16% from the company’s previous close.

Separately, Citigroup decreased their target price on Coupang from $31.00 to $28.00 and set a “buy” rating for the company in a research report on Wednesday, January 8th. One research analyst has rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $27.78.

Coupang Stock Performance

NYSE:CPNG opened at $24.97 on Wednesday. The company has a debt-to-equity ratio of 0.28, a current ratio of 1.13 and a quick ratio of 0.86. The business has a fifty day simple moving average of $22.93 and a two-hundred day simple moving average of $23.59. Coupang has a 1 year low of $14.74 and a 1 year high of $26.91. The company has a market capitalization of $44.92 billion, a P/E ratio of 43.81, a P/E/G ratio of 43.21 and a beta of 1.11.

Insider Activity

In related news, VP Pranam Kolari sold 8,459 shares of Coupang stock in a transaction on Monday, February 3rd. The stock was sold at an average price of $22.98, for a total transaction of $194,387.82. Following the completion of the sale, the vice president now owns 136,806 shares of the company’s stock, valued at approximately $3,143,801.88. This trade represents a 5.82 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 13.60% of the stock is owned by company insiders.

Institutional Investors Weigh In On Coupang

Large investors have recently added to or reduced their stakes in the business. Assenagon Asset Management S.A. boosted its stake in Coupang by 85.4% during the fourth quarter. Assenagon Asset Management S.A. now owns 1,100,183 shares of the company’s stock valued at $24,182,000 after buying an additional 506,622 shares during the period. Elevate Capital Advisors LLC bought a new stake in Coupang during the fourth quarter worth about $2,618,000. Charles Schwab Investment Management Inc. lifted its stake in Coupang by 22.3% during the third quarter. Charles Schwab Investment Management Inc. now owns 759,286 shares of the company’s stock worth $18,640,000 after purchasing an additional 138,416 shares during the last quarter. abrdn plc lifted its stake in Coupang by 40.2% during the third quarter. abrdn plc now owns 202,359 shares of the company’s stock worth $4,968,000 after purchasing an additional 58,060 shares during the last quarter. Finally, Plotkin Financial Advisors LLC bought a new stake in Coupang during the third quarter worth about $491,000. Institutional investors own 83.72% of the company’s stock.

Coupang Company Profile

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.