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

Coupang (NYSE:CPNG) had its target price lowered by equities researchers at Citigroup from $31.00 to $28.00 in a research note issued to investors on Wednesday,Benzinga reports. The brokerage presently has a “buy” rating on the stock. Citigroup’s price objective would suggest a potential upside of 25.50% from the stock’s previous close.

Separately, Sanford C. Bernstein raised shares of Coupang from an “underperform” rating to an “outperform” rating and set a $30.00 price objective for the company in a research report on Monday, October 7th. One analyst has rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $27.56.

Coupang Stock Down 1.9 %

Shares of Coupang stock traded down $0.44 during trading hours on Wednesday, reaching $22.31. The company’s stock had a trading volume of 4,852,430 shares, compared to its average volume of 6,421,507. The company has a market capitalization of $40.13 billion, a P/E ratio of 39.14, a P/E/G ratio of 215.03 and a beta of 1.10. The stock’s fifty day simple moving average is $24.00 and its two-hundred day simple moving average is $23.26. Coupang has a one year low of $13.51 and a one year high of $26.91. The company has a debt-to-equity ratio of 0.28, a quick ratio of 0.86 and a current ratio of 1.13.

Coupang (NYSE:CPNG) last announced its quarterly earnings results on Tuesday, November 5th. The company reported $0.06 earnings per share for the quarter, beating the consensus estimate of $0.01 by $0.05. The business had revenue of $7.87 billion for the quarter, compared to analysts’ expectations of $7.76 billion. Coupang had a net margin of 3.57% and a return on equity of 11.52%. The firm’s revenue for the quarter was up 27.2% compared to the same quarter last year. During the same quarter last year, the firm earned $0.05 EPS. On average, research analysts forecast that Coupang will post 0.11 earnings per share for the current year.

Insider Buying and Selling

In related news, CEO Bom Kim sold 15,000,000 shares of the company’s stock in a transaction that occurred on Monday, November 11th. The shares were sold at an average price of $22.97, for a total transaction of $344,550,000.00. Following the sale, the chief executive officer now directly owns 2,000,000 shares in the company, valued at approximately $45,940,000. This represents a 88.24 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director Greenoaks Capital Partners Llc acquired 687,700 shares of Coupang stock in a transaction that occurred on Monday, November 11th. The stock was acquired at an average price of $24.08 per share, with a total value of $16,559,816.00. Following the completion of the purchase, the director now directly owns 52,726,423 shares in the company, valued at $1,269,652,265.84. This represents a 1.32 % increase in their position. The disclosure for this purchase can be found here. 13.60% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Coupang

Several institutional investors have recently made changes to their positions in the stock. Handelsbanken Fonder AB raised its stake in shares of Coupang by 2.9% during the 3rd quarter. Handelsbanken Fonder AB now owns 884,144 shares of the company’s stock valued at $21,706,000 after purchasing an additional 24,553 shares during the period. Charles Schwab Investment Management Inc. increased its position in shares of Coupang by 22.3% during the third quarter. Charles Schwab Investment Management Inc. now owns 759,286 shares of the company’s stock valued at $18,640,000 after buying an additional 138,416 shares during the period. abrdn plc lifted its holdings in shares of Coupang by 40.2% in the third quarter. abrdn plc now owns 202,359 shares of the company’s stock worth $4,968,000 after buying an additional 58,060 shares in the last quarter. Plotkin Financial Advisors LLC bought a new position in shares of Coupang in the third quarter valued at approximately $491,000. Finally, Coronation Fund Managers Ltd. grew its stake in Coupang by 139.1% during the third quarter. Coronation Fund Managers Ltd. now owns 4,817,030 shares of the company’s stock valued at $118,258,000 after acquiring an additional 2,802,325 shares in the last quarter. Hedge funds and other 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.