Coupang (NYSE:CPNG) Price Target Raised to $28.00 at Citigroup

Coupang (NYSE:CPNG) had its price target increased by Citigroup from $26.00 to $28.00 in a research note issued to investors on Wednesday, Benzinga reports. They currently have a buy rating on the stock.

CPNG has been the topic of a number of other reports. TheStreet upgraded shares of Coupang from a d+ rating to a c- rating in a research report on Tuesday, March 5th. Barclays upped their price objective on Coupang from $24.00 to $25.00 and gave the stock an overweight rating in a report on Thursday, February 29th. Bank of America assumed coverage on Coupang in a research note on Friday, May 3rd. They issued a buy rating and a $30.00 target price for the company. Mizuho upped their price target on Coupang from $20.00 to $23.00 and gave the company a neutral rating in a research note on Wednesday. Finally, Deutsche Bank Aktiengesellschaft upgraded Coupang from a hold rating to a buy rating and lifted their price objective for the stock from $18.50 to $21.00 in a research report on Thursday, February 29th. Two equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of Moderate Buy and an average target price of $25.42.

Coupang Price Performance

CPNG stock traded up $0.54 during trading on Wednesday, hitting $22.01. 12,608,282 shares of the stock traded hands, compared to its average volume of 13,413,551. The stock has a market cap of $39.46 billion, a price-to-earnings ratio of 29.60, a P/E/G ratio of 19.21 and a beta of 1.13. Coupang has a one year low of $13.51 and a one year high of $23.77. The company has a current ratio of 1.14, a quick ratio of 0.90 and a debt-to-equity ratio of 0.13. The company has a 50 day simple moving average of $19.97 and a 200 day simple moving average of $17.27.

Coupang (NYSE:CPNG) last posted its earnings results on Tuesday, May 7th. The company reported $0.05 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.06 by ($0.01). Coupang had a net margin of 5.57% and a return on equity of 15.04%. The firm had revenue of $7.11 billion during the quarter, compared to the consensus estimate of $6.95 billion. During the same quarter last year, the firm posted $0.05 EPS. The business’s revenue was up 22.6% on a year-over-year basis. Equities analysts expect that Coupang will post 0.35 EPS for the current fiscal year.

Insider Activity at Coupang

In related news, major shareholder Svf Investments (Uk) Ltd sold 31,614,154 shares of Coupang stock in a transaction dated Tuesday, March 12th. The stock was sold at an average price of $19.01, for a total value of $600,985,067.54. Following the sale, the insider now owns 364,542,259 shares of the company’s stock, valued at $6,929,948,343.59. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In other Coupang news, major shareholder Svf Investments (Uk) Ltd sold 31,614,154 shares of the firm’s stock in a transaction on Tuesday, March 12th. The stock was sold at an average price of $19.01, for a total transaction of $600,985,067.54. Following the completion of the sale, the insider now owns 364,542,259 shares of the company’s stock, valued at approximately $6,929,948,343.59. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Pranam Kolari sold 2,048 shares of the company’s stock in a transaction on Thursday, May 2nd. The shares were sold at an average price of $22.34, for a total transaction of $45,752.32. Following the completion of the transaction, the insider now owns 187,951 shares in the company, valued at $4,198,825.34. The disclosure for this sale can be found here. Over the last quarter, insiders sold 33,355,282 shares of company stock worth $633,457,030. 14.90% of the stock is owned by insiders.

Institutional Trading of Coupang

A number of institutional investors have recently modified their holdings of the stock. WCM Investment Management LLC lifted its holdings in Coupang by 2,250.9% during the 1st quarter. WCM Investment Management LLC now owns 44,926,485 shares of the company’s stock worth $799,242,000 after buying an additional 43,015,433 shares during the period. Baillie Gifford & Co. lifted its stake in shares of Coupang by 21.6% in the fourth quarter. Baillie Gifford & Co. now owns 145,524,128 shares of the company’s stock worth $2,356,036,000 after acquiring an additional 25,843,034 shares during the period. Norges Bank bought a new stake in Coupang in the fourth quarter valued at approximately $250,714,000. Pacer Advisors Inc. boosted its holdings in Coupang by 104,032.2% in the fourth quarter. Pacer Advisors Inc. now owns 10,944,299 shares of the company’s stock valued at $177,188,000 after acquiring an additional 10,933,789 shares during the last quarter. Finally, Assenagon Asset Management S.A. increased its position in Coupang by 217.1% during the 1st quarter. Assenagon Asset Management S.A. now owns 2,909,546 shares of the company’s stock valued at $51,761,000 after purchasing an additional 1,992,092 shares during the period. 83.72% of the stock is currently 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.