Coupang, Inc. (NYSE:CPNG) Receives Consensus Rating of “Moderate Buy” from Analysts

Coupang, Inc. (NYSE:CPNG) has earned a consensus recommendation of “Moderate Buy” from the nine ratings firms that are presently covering the stock, MarketBeat.com reports. One investment analyst has rated the stock with a hold rating and eight have given a buy rating to the company. The average 12-month price objective among brokerages that have updated their coverage on the stock in the last year is $29.17.

Several brokerages have recently weighed in on CPNG. Barclays set a $35.00 price objective on shares of Coupang and gave the stock an “overweight” rating in a research report on Thursday, February 27th. Mizuho boosted their price objective on shares of Coupang from $25.00 to $27.00 and gave the stock a “neutral” rating in a research report on Wednesday, February 26th. Citigroup reduced their price objective on shares of Coupang from $31.00 to $28.00 and set a “buy” rating for the company in a research report on Wednesday, January 8th. Finally, Deutsche Bank Aktiengesellschaft upgraded shares of Coupang from a “hold” rating to a “buy” rating and set a $28.50 price objective for the company in a research report on Wednesday, February 26th.

Insider Buying and Selling at Coupang

In other Coupang news, VP Pranam Kolari sold 8,459 shares of the business’s stock in a transaction on Monday, February 3rd. The shares were sold at an average price of $22.98, for a total value of $194,387.82. Following the transaction, the vice president now directly owns 136,806 shares of the company’s stock, valued at approximately $3,143,801.88. The trade was a 5.82 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 13.60% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Coupang

Several institutional investors have recently bought and sold shares of the company. Assenagon Asset Management S.A. grew its stake in shares of Coupang by 85.4% during the 4th quarter. Assenagon Asset Management S.A. now owns 1,100,183 shares of the company’s stock worth $24,182,000 after purchasing an additional 506,622 shares during the period. Allspring Global Investments Holdings LLC grew its stake in shares of 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 position in shares of Coupang during the 4th quarter worth $2,618,000. Charles Schwab Investment Management Inc. grew its stake in shares of Coupang by 22.3% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 759,286 shares of the company’s stock worth $18,640,000 after purchasing an additional 138,416 shares during the period. Finally, abrdn plc grew its stake in shares of Coupang by 40.2% during the 3rd quarter. abrdn plc now owns 202,359 shares of the company’s stock worth $4,968,000 after purchasing an additional 58,060 shares during the period. 83.72% of the stock is owned by institutional investors and hedge funds.

Coupang Trading Up 2.7 %

NYSE CPNG opened at $23.98 on Thursday. The company has a quick ratio of 0.86, a current ratio of 1.13 and a debt-to-equity ratio of 0.28. Coupang has a 52 week low of $17.34 and a 52 week high of $26.91. The stock has a market capitalization of $43.14 billion, a PE ratio of 42.08, a price-to-earnings-growth ratio of 52.20 and a beta of 1.11. The firm has a 50 day moving average of $23.27 and a two-hundred day moving average of $23.91.

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.