Morgan Stanley Raises Coupang (NYSE:CPNG) Price Target to $27.00

Coupang (NYSE:CPNG) had its price objective lifted by Morgan Stanley from $26.00 to $27.00 in a research report report published on Wednesday, Benzinga reports. Morgan Stanley currently has an overweight rating on the stock.

A number of other analysts have also weighed in on the company. UBS Group upgraded Coupang from a neutral rating to a buy rating and raised their target price for the company from $18.50 to $26.00 in a research note on Thursday, May 16th. Bank of America began coverage on shares of Coupang in a research note on Friday, May 3rd. They issued a buy rating and a $30.00 target price for the company. Mizuho raised their price target on shares of Coupang from $20.00 to $23.00 and gave the company a neutral rating in a report on Wednesday, May 8th. Citigroup upped their price objective on Coupang from $26.00 to $28.00 and gave the stock a buy rating in a report on Wednesday, May 8th. Finally, Barclays increased their price objective on Coupang from $25.00 to $32.00 and gave the company an overweight rating in a research report on Thursday, May 9th. One analyst has rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of Moderate Buy and a consensus target price of $26.71.

Coupang Price Performance

NYSE:CPNG opened at $20.92 on Wednesday. The firm has a market cap of $37.40 billion, a PE ratio of 29.89, a price-to-earnings-growth ratio of 8.74 and a beta of 1.12. The company’s 50-day moving average price is $22.18 and its two-hundred day moving average price is $18.76. The company has a quick ratio of 0.89, a current ratio of 1.15 and a debt-to-equity ratio of 0.67. Coupang has a 12 month low of $13.51 and a 12 month high of $23.77.

Coupang (NYSE:CPNG) last announced its earnings results on Tuesday, May 7th. The company reported $0.05 EPS for the quarter, missing the consensus estimate of $0.06 by ($0.01). Coupang had a return on equity of 13.59% and a net margin of 4.96%. The business had revenue of $7.11 billion during the quarter, compared to analyst estimates of $6.95 billion. During the same period in the previous year, the firm earned $0.05 earnings per share. The firm’s revenue was up 22.6% compared to the same quarter last year. On average, equities analysts anticipate that Coupang will post 0.13 EPS for the current fiscal year.

Insider Activity

In other news, Director Benjamin Sun sold 700,000 shares of the firm’s stock in a transaction on Monday, June 17th. The stock was sold at an average price of $20.63, for a total value of $14,441,000.00. Following the transaction, the director now directly owns 2,169,421 shares in the company, valued at approximately $44,755,155.23. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Coupang news, Director Benjamin Sun sold 700,000 shares of the stock in a transaction dated Monday, June 17th. The stock was sold at an average price of $20.63, for a total value of $14,441,000.00. Following the transaction, the director now owns 2,169,421 shares of the company’s stock, valued at $44,755,155.23. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director Greenoaks Capital Partners Llc bought 500,000 shares of Coupang stock in a transaction on Monday, May 13th. The shares were bought at an average price of $22.06 per share, for a total transaction of $11,030,000.00. Following the acquisition, the director now owns 48,626,374 shares of the company’s stock, valued at approximately $1,072,697,810.44. The disclosure for this purchase can be found here. Insiders have sold a total of 753,538 shares of company stock valued at $15,662,818 in the last 90 days. 13.60% of the stock is owned by company insiders.

Institutional Investors Weigh In On Coupang

Several large investors have recently bought and sold shares of the company. Invesco Ltd. increased its position in shares of Coupang by 61.1% in the 3rd quarter. Invesco Ltd. now owns 921,619 shares of the company’s stock valued at $15,668,000 after buying an additional 349,602 shares in the last quarter. Dark Forest Capital Management LP bought a new position in shares of Coupang during the 3rd quarter valued at about $370,000. Federated Hermes Inc. grew its position in shares of Coupang by 34,482.5% in the 3rd quarter. Federated Hermes Inc. now owns 286,343 shares of the company’s stock valued at $4,868,000 after purchasing an additional 285,515 shares during the period. Northern Trust Corp increased its stake in Coupang by 5.5% during the 3rd quarter. Northern Trust Corp now owns 2,730,835 shares of the company’s stock worth $46,424,000 after purchasing an additional 142,741 shares in the last quarter. Finally, O Shaughnessy Asset Management LLC raised its holdings in Coupang by 26.3% during the 3rd quarter. O Shaughnessy Asset Management LLC now owns 15,994 shares of the company’s stock worth $272,000 after buying an additional 3,334 shares during the period. 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.