Coupang (NYSE:CPNG) Rating Increased to Outperform at CLSA

CLSA upgraded shares of Coupang (NYSE:CPNG) from a hold rating to an outperform rating in a report issued on Wednesday morning, MarketBeat reports. CLSA currently has $31.00 price objective on the stock, up from their previous price objective of $18.00.

CPNG has been the subject of a number of other research reports. UBS Group upgraded Coupang from a neutral rating to a buy rating and raised their price target for the company from $18.50 to $26.00 in a research report on Thursday, May 16th. Mizuho increased their price target on shares of Coupang from $20.00 to $23.00 and gave the company a neutral rating in a research report on Wednesday, May 8th. Citigroup increased their target price on Coupang from $26.00 to $28.00 and gave the company a buy rating in a report on Wednesday, May 8th. Morgan Stanley upped their price objective on Coupang from $26.00 to $27.00 and gave the company an overweight rating in a research report on Wednesday, June 26th. Finally, Barclays lifted their price objective on Coupang from $25.00 to $32.00 and gave the stock an overweight rating in a research report on Thursday, May 9th. One research analyst has rated the stock with a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat.com, Coupang currently has an average rating of Moderate Buy and an average price target of $27.25.

Coupang Trading Down 5.7 %

Shares of CPNG opened at $22.00 on Wednesday. Coupang has a twelve month low of $13.51 and a twelve month high of $23.99. The company has a current ratio of 1.12, a quick ratio of 0.87 and a debt-to-equity ratio of 0.72. The firm has a market capitalization of $39.34 billion, a P/E ratio of 31.43, a PEG ratio of 877.23 and a beta of 1.10. The firm’s 50-day moving average is $21.59 and its two-hundred day moving average is $20.89.

Coupang (NYSE:CPNG) last announced its quarterly earnings results on Tuesday, August 6th. The company reported $0.07 EPS for the quarter, topping the consensus estimate of ($0.01) by $0.08. Coupang had a return on equity of 12.04% and a net margin of 3.87%. The business had revenue of $7.32 billion for the quarter, compared to analyst estimates of $7.39 billion. During the same quarter in the previous year, the company earned $0.08 EPS. The company’s quarterly revenue was up 25.4% on a year-over-year basis. On average, research analysts predict that Coupang will post 0.14 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, Director Greenoaks Capital Partners Llc purchased 100,000 shares of the company’s stock in a transaction that occurred on Wednesday, August 21st. The stock was purchased at an average price of $22.95 per share, with a total value of $2,295,000.00. Following the completion of the transaction, the director now owns 50,476,224 shares of the company’s stock, valued at approximately $1,158,429,340.80. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other news, Director Greenoaks Capital Partners Llc bought 100,000 shares of Coupang stock in a transaction that occurred on Wednesday, August 21st. The shares were purchased at an average price of $22.95 per share, for a total transaction of $2,295,000.00. Following the completion of the acquisition, the director now owns 50,476,224 shares of the company’s stock, valued at $1,158,429,340.80. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Benjamin Sun sold 700,000 shares of the business’s stock in a transaction dated Monday, June 17th. The shares were sold at an average price of $20.63, for a total value of $14,441,000.00. Following the sale, the director now directly owns 2,169,421 shares of the company’s stock, valued at approximately $44,755,155.23. The disclosure for this sale can be found here. Over the last three months, insiders have purchased 601,300 shares of company stock valued at $13,604,354 and have sold 1,110,432 shares valued at $23,870,597. Corporate insiders own 13.60% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of the business. Global Retirement Partners LLC increased its position in shares of Coupang by 135.8% in the first quarter. Global Retirement Partners LLC now owns 1,436 shares of the company’s stock worth $26,000 after acquiring an additional 827 shares in the last quarter. GAMMA Investing LLC increased its holdings in Coupang by 308.2% in the 2nd quarter. GAMMA Investing LLC now owns 1,947 shares of the company’s stock valued at $41,000 after purchasing an additional 1,470 shares in the last quarter. Register Financial Advisors LLC purchased a new position in Coupang in the first quarter valued at about $50,000. Opal Wealth Advisors LLC acquired a new position in shares of Coupang during the second quarter worth about $74,000. Finally, Benjamin F. Edwards & Company Inc. lifted its stake in shares of Coupang by 360.6% during the second quarter. Benjamin F. Edwards & Company Inc. now owns 4,118 shares of the company’s stock worth $86,000 after purchasing an additional 3,224 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.