Coupang (NYSE:CPNG) Stock Price Expected to Rise, Barclays Analyst Says

Coupang (NYSE:CPNG) had its price objective lifted by Barclays from $35.00 to $36.00 in a report published on Thursday morning,Benzinga reports. Barclays currently has an overweight rating on the stock.

Several other brokerages also recently issued reports on CPNG. Deutsche Bank Aktiengesellschaft upgraded Coupang from a “hold” rating to a “buy” rating and set a $28.50 price objective on the stock in a research report on Wednesday, February 26th. Citigroup decreased their price target on shares of Coupang from $31.00 to $28.00 and set a “buy” rating on the stock in a research note on Wednesday, January 8th. Finally, Mizuho raised shares of Coupang to a “hold” rating in a research report on Friday, April 18th. One equities research analyst has rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $29.19.

Coupang Price Performance

Shares of NYSE CPNG opened at $26.00 on Thursday. The company has a current ratio of 1.13, a quick ratio of 0.86 and a debt-to-equity ratio of 0.28. The company’s 50-day moving average price is $22.62 and its 200 day moving average price is $23.42. Coupang has a 52 week low of $18.16 and a 52 week high of $27.03. The stock has a market cap of $46.94 billion, a price-to-earnings ratio of 45.61, a PEG ratio of 52.20 and a beta of 1.08.

Coupang (NYSE:CPNG) last released its quarterly earnings results on Tuesday, May 6th. The company reported $0.06 EPS for the quarter, missing the consensus estimate of $0.07 by ($0.01). Coupang had a net margin of 3.57% and a return on equity of 11.52%. The business had revenue of $7.91 billion during the quarter, compared to analyst estimates of $8.02 billion. The company’s revenue was up 11.2% compared to the same quarter last year. As a group, research analysts forecast that Coupang will post 0.17 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Coupang news, VP Pranam Kolari sold 9,347 shares of Coupang stock in a transaction on Friday, May 2nd. The shares were sold at an average price of $23.85, for a total value of $222,925.95. Following the transaction, the vice president now owns 177,106 shares in the company, valued at $4,223,978.10. This trade represents a 5.01 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Benjamin Sun sold 250,000 shares of the company’s stock in a transaction on Monday, March 17th. The stock was sold at an average price of $23.43, for a total value of $5,857,500.00. Following the sale, the director now owns 1,719,421 shares of the company’s stock, valued at approximately $40,286,034.03. The trade was a 12.69 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 13.60% of the company’s stock.

Institutional Trading of Coupang

Institutional investors have recently modified their holdings of the company. Assenagon Asset Management S.A. grew 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 worth $24,182,000 after buying an additional 506,622 shares during the period. Allspring Global Investments Holdings LLC boosted its position in Coupang by 23.4% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 218,100 shares of the company’s stock worth $4,861,000 after purchasing an additional 41,384 shares during the period. Elevate Capital Advisors LLC acquired a new stake in Coupang in the 4th quarter valued at $2,618,000. New York Life Investment Management LLC purchased a new position in Coupang in the fourth quarter valued at about $349,000. Finally, Ninety One UK Ltd acquired a new position in shares of Coupang during the fourth quarter worth about $46,388,000. Hedge funds and other institutional investors own 83.72% of the company’s stock.

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.