Coupang, Inc. (NYSE:CPNG) Given Average Recommendation of “Hold” by Brokerages

Coupang, Inc. (NYSE:CPNG) has been assigned a consensus recommendation of “Hold” from the twelve analysts that are currently covering the stock, MarketBeat.com reports. Two investment analysts have rated the stock with a sell rating, four have assigned a hold rating and six have assigned a buy rating to the company. The average 1-year price objective among brokers that have issued ratings on the stock in the last year is $25.3917.

Several brokerages recently issued reports on CPNG. Barclays reissued an “overweight” rating and set a $29.00 target price on shares of Coupang in a report on Tuesday, July 7th. Deutsche Bank Aktiengesellschaft raised shares of Coupang from a “hold” rating to a “buy” rating and lowered their target price for the stock from $23.00 to $21.50 in a research note on Wednesday. Citigroup cut Coupang from a “buy” rating to a “neutral” rating and cut their price objective for the company from $23.00 to $22.20 in a research report on Wednesday, May 6th. Mizuho set a $22.00 price objective on shares of Coupang in a report on Wednesday. Finally, Bank of America reduced their target price on Coupang from $27.00 to $24.00 and set a “buy” rating for the company in a report on Wednesday.

Institutional Trading of Coupang

Several hedge funds have recently made changes to their positions in the company. EverSource Wealth Advisors LLC lifted its position in Coupang by 72.6% in the second 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 period. Baird Financial Group Inc. raised its stake in shares of Coupang by 52.8% during the 2nd quarter. Baird Financial Group Inc. now owns 23,471 shares of the company’s stock worth $703,000 after buying an additional 8,107 shares in the last quarter. Cerity Partners LLC raised its stake in shares of Coupang by 48.1% during the 2nd quarter. Cerity Partners LLC now owns 45,252 shares of the company’s stock worth $1,356,000 after buying an additional 14,703 shares in the last quarter. State Street Corp lifted its holdings in shares of Coupang by 8.4% in the 2nd quarter. State Street Corp now owns 15,641,775 shares of the company’s stock valued at $468,628,000 after buying an additional 1,210,801 shares during the period. Finally, AXA S.A. purchased a new stake in shares of Coupang in the second quarter valued at approximately $411,000. Institutional investors and hedge funds own 83.72% of the company’s stock.

Coupang Trading Down 4.4%

Shares of Coupang stock opened at $16.04 on Thursday. Coupang has a 12-month low of $14.92 and a 12-month high of $34.08. The firm’s 50 day simple moving average is $17.02 and its two-hundred day simple moving average is $18.20. The company has a current ratio of 0.97, a quick ratio of 0.76 and a debt-to-equity ratio of 0.16. The firm has a market capitalization of $28.79 billion, a price-to-earnings ratio of -37.30 and a beta of 1.13.

Coupang (NYSE:CPNG) last issued its earnings results on Tuesday, May 5th. The company reported ($0.15) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.09) by ($0.06). Coupang had a negative return on equity of 8.06% and a negative net margin of 2.16%.The firm had revenue of $8.50 billion during the quarter, compared to analysts’ expectations of $8.48 billion. During the same quarter last year, the business earned $0.06 EPS. The business’s revenue was up 7.5% on a year-over-year basis. Analysts predict 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.