Coupang, Inc. (NYSE:CPNG) Receives $27.56 Average Target Price from Brokerages

Shares of Coupang, Inc. (NYSE:CPNG) have earned an average rating of “Moderate Buy” from the nine research firms that are covering the stock, MarketBeat Ratings reports. One equities research analyst has rated the stock with a hold recommendation and eight have assigned a buy recommendation to the company. The average 1-year price target among brokerages that have covered the stock in the last year is $27.56.

A number of brokerages have recently issued reports on CPNG. Sanford C. Bernstein raised Coupang from an “underperform” rating to an “outperform” rating and set a $30.00 price objective on the stock in a research note on Monday, October 7th. CLSA upgraded Coupang from a “hold” rating to an “outperform” rating and raised their price target for the stock from $18.00 to $31.00 in a research report on Wednesday, September 4th.

Coupang Trading Up 0.9 %

Shares of Coupang stock opened at $22.94 on Friday. The company has a debt-to-equity ratio of 0.28, a current ratio of 1.13 and a quick ratio of 0.86. Coupang has a 1 year low of $13.51 and a 1 year high of $26.91. The firm has a market cap of $41.27 billion, a PE ratio of 40.25, a PEG ratio of 215.03 and a beta of 1.07. The company has a 50 day simple moving average of $24.71 and a two-hundred day simple moving average of $23.15.

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

Insider Activity at Coupang

In other news, CEO Bom Kim sold 15,000,000 shares of Coupang stock in a transaction dated Monday, November 11th. The stock was sold at an average price of $22.97, for a total value of $344,550,000.00. Following the completion of the transaction, the chief executive officer now owns 2,000,000 shares of the company’s stock, valued at $45,940,000. The trade was a 88.24 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Greenoaks Capital Partners Llc purchased 750,000 shares of the company’s stock in a transaction that occurred on Friday, November 8th. The stock was purchased at an average price of $24.01 per share, for a total transaction of $18,007,500.00. Following the purchase, the director now owns 52,038,723 shares in the company, valued at $1,249,449,739.23. This represents a 1.46 % increase in their ownership of the stock. The disclosure for this purchase can be found here. 13.60% of the stock is currently owned by corporate insiders.

Institutional Trading of Coupang

Several institutional investors have recently added to or reduced their stakes in the business. Baillie Gifford & Co. grew its stake in shares of Coupang by 1.6% in the second quarter. Baillie Gifford & Co. now owns 171,350,025 shares of the company’s stock worth $3,589,783,000 after acquiring an additional 2,749,027 shares during the period. FMR LLC boosted its holdings in Coupang by 32.0% in the third quarter. FMR LLC now owns 27,153,608 shares of the company’s stock worth $666,621,000 after purchasing an additional 6,584,910 shares during the last quarter. State Street Corp grew its position in Coupang by 1.9% in the 3rd quarter. State Street Corp now owns 14,125,599 shares of the company’s stock worth $346,783,000 after purchasing an additional 259,400 shares during the period. Wellington Management Group LLP raised its stake in Coupang by 43.2% during the 3rd quarter. Wellington Management Group LLP now owns 8,630,058 shares of the company’s stock valued at $211,868,000 after buying an additional 2,603,046 shares during the last quarter. Finally, Dorsal Capital Management LP lifted its holdings in shares of Coupang by 26.3% during the 2nd quarter. Dorsal Capital Management LP now owns 6,000,000 shares of the company’s stock valued at $125,700,000 after buying an additional 1,250,000 shares during the period. 83.72% of the stock is currently 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.