Coupang, Inc. (NYSE:CPNG) Receives Average Recommendation of “Moderate Buy” from Brokerages

Shares of Coupang, Inc. (NYSE:CPNG) have received an average recommendation of “Moderate Buy” from the nine research firms that are presently covering the firm, MarketBeat.com reports. One analyst has rated the stock with a hold rating and eight have given a buy rating to the company. The average twelve-month target price among brokerages that have issued ratings on the stock in the last year is $27.56.

CPNG has been the subject of several recent research reports. Sanford C. Bernstein raised Coupang from an “underperform” rating to an “outperform” rating and set a $30.00 price target for the company in a report on Monday, October 7th. CLSA upgraded Coupang from a “hold” rating to an “outperform” rating and boosted their price objective for the company from $18.00 to $31.00 in a research note on Wednesday, September 4th.

Coupang Price Performance

Shares of NYSE:CPNG opened at $22.94 on Friday. The company has a quick ratio of 0.86, a current ratio of 1.13 and a debt-to-equity ratio of 0.28. The stock has a market capitalization of $41.27 billion, a PE ratio of 40.25, a price-to-earnings-growth ratio of 215.03 and a beta of 1.07. The firm’s 50 day moving average price is $24.71 and its 200-day moving average price is $23.15. Coupang has a twelve month low of $13.51 and a twelve month high of $26.91.

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

Insiders Place Their Bets

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

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the business. Lord Abbett & CO. LLC increased its stake in Coupang by 269.3% during the third quarter. Lord Abbett & CO. LLC now owns 1,292,886 shares of the company’s stock worth $31,740,000 after acquiring an additional 942,839 shares during the last quarter. Tidal Investments LLC purchased a new position in shares of Coupang in the 3rd quarter worth approximately $5,646,000. Wilmington Savings Fund Society FSB bought a new position in shares of Coupang during the 3rd quarter valued at approximately $1,094,000. Advisory Resource Group raised its holdings in Coupang by 1.9% during the 3rd quarter. Advisory Resource Group now owns 44,096 shares of the company’s stock valued at $1,083,000 after buying an additional 823 shares during the period. Finally, Coldstream Capital Management Inc. lifted its position in Coupang by 10.1% in the third quarter. Coldstream Capital Management Inc. now owns 15,517 shares of the company’s stock worth $382,000 after buying an additional 1,427 shares during the last quarter. 83.72% of the stock is owned by hedge funds and other institutional investors.

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.