Brokerages Set Coupang, Inc. (NYSE:CPNG) Target Price at $29.06

Coupang, Inc. (NYSE:CPNG) has been given a consensus rating of “Moderate Buy” by the nine brokerages that are currently covering the stock, Marketbeat reports. One investment analyst has rated the stock with a hold rating and eight have issued a buy rating on the company. The average twelve-month price target among brokers that have covered the stock in the last year is $29.17.

Several analysts recently issued reports on CPNG shares. Citigroup dropped their target price on Coupang from $31.00 to $28.00 and set a “buy” rating on the stock in a report on Wednesday, January 8th. Barclays set a $35.00 target price on shares of Coupang and gave the company an “overweight” rating in a research note on Thursday. Mizuho upped their price target on shares of Coupang from $25.00 to $27.00 and gave the stock a “neutral” rating in a research report on Wednesday, February 26th. Finally, Deutsche Bank Aktiengesellschaft raised shares of Coupang from a “hold” rating to a “buy” rating and set a $28.50 price objective for the company in a research report on Wednesday, February 26th.

Coupang Stock Up 0.6 %

Shares of CPNG stock opened at $23.84 on Thursday. The firm’s fifty day moving average price is $23.24 and its two-hundred day moving average price is $23.90. The company has a current ratio of 1.13, a quick ratio of 0.86 and a debt-to-equity ratio of 0.28. Coupang has a 1 year low of $17.34 and a 1 year high of $26.91. The firm has a market capitalization of $42.88 billion, a P/E ratio of 41.83, a PEG ratio of 52.20 and a beta of 1.11.

Insider Activity at Coupang

In other Coupang news, VP Pranam Kolari sold 8,459 shares of the company’s stock in a transaction on Monday, February 3rd. The stock was sold at an average price of $22.98, for a total value of $194,387.82. Following the transaction, the vice president now directly owns 136,806 shares of the company’s stock, valued at $3,143,801.88. This represents a 5.82 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. 13.60% of the stock is owned by company insiders.

Hedge Funds Weigh In On Coupang

A number of hedge funds have recently bought and sold shares of the business. Pacer Advisors Inc. grew its position in shares of Coupang by 4.1% during the 4th quarter. Pacer Advisors Inc. now owns 11,502 shares of the company’s stock worth $253,000 after purchasing an additional 452 shares in the last quarter. Angeles Wealth Management LLC boosted its stake in shares of Coupang by 0.8% in the fourth quarter. Angeles Wealth Management LLC now owns 55,074 shares of the company’s stock valued at $1,211,000 after buying an additional 459 shares during the period. Virtus ETF Advisers LLC grew its position in Coupang by 1.1% during the fourth quarter. Virtus ETF Advisers LLC now owns 44,341 shares of the company’s stock worth $975,000 after buying an additional 466 shares in the last quarter. IFP Advisors Inc increased its stake in Coupang by 3.8% during the 4th quarter. IFP Advisors Inc now owns 12,734 shares of the company’s stock worth $280,000 after acquiring an additional 469 shares during the period. Finally, Ignite Planners LLC raised its holdings in Coupang by 2.5% in the 4th quarter. Ignite Planners LLC now owns 20,162 shares of the company’s stock valued at $452,000 after acquiring an additional 483 shares in the last quarter. 83.72% of the stock is owned by institutional investors.

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.