Barclays Increases Coupang (NYSE:CPNG) Price Target to $24.00

Coupang (NYSE:CPNG) had its price objective lifted by stock analysts at Barclays from $23.00 to $24.00 in a note issued to investors on Monday,Benzinga reports. The firm presently has an “overweight” rating on the stock. Barclays‘s price objective points to a potential upside of 29.21% from the company’s current price.

A number of other research firms have also commented on CPNG. Bank of America lifted their price objective on Coupang from $36.00 to $38.00 and gave the stock a “buy” rating in a research note on Wednesday, November 5th. UBS Group set a $25.00 price target on shares of Coupang in a research report on Thursday, February 19th. Mizuho decreased their price objective on shares of Coupang from $32.00 to $25.00 and set a “neutral” rating for the company in a research report on Friday. Sanford C. Bernstein reaffirmed an “underperform” rating on shares of Coupang in a research report on Monday. Finally, Citigroup dropped their price objective on Coupang from $27.00 to $24.00 and set a “buy” rating on the stock in a research note on Tuesday, February 10th. Six equities research analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $26.70.

Coupang Trading Down 2.6%

Shares of CPNG stock traded down $0.51 during trading hours on Monday, hitting $18.58. 3,208,791 shares of the company’s stock traded hands, compared to its average volume of 25,761,865. The company has a quick ratio of 0.79, a current ratio of 1.04 and a debt-to-equity ratio of 0.14. Coupang has a 12 month low of $16.74 and a 12 month high of $34.08. The stock has a market cap of $33.93 billion, a PE ratio of 154.60 and a beta of 1.20. The stock’s 50 day simple moving average is $20.45 and its 200 day simple moving average is $26.38.

Coupang (NYSE:CPNG) last announced its earnings results on Thursday, February 26th. The company reported ($0.01) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.02 by ($0.03). The company had revenue of $8.84 billion for the quarter, compared to the consensus estimate of $9.12 billion. Coupang had a return on equity of 4.52% and a net margin of 0.60%.The firm’s revenue for the quarter was up 10.9% on a year-over-year basis. During the same period in the prior year, the business earned $0.04 earnings per share. On average, sell-side analysts anticipate that Coupang will post 0.17 EPS for the current year.

Insider Buying and Selling

In other news, CAO Jonathan D. Lee sold 2,679 shares of the business’s stock in a transaction that occurred on Friday, January 2nd. The stock was sold at an average price of $23.62, for a total transaction of $63,277.98. Following the completion of the sale, the chief accounting officer owned 122,096 shares in the company, valued at $2,883,907.52. The trade was a 2.15% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Company insiders own 12.78% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of CPNG. Alpine Global Management LLC purchased a new stake in Coupang in the 4th quarter valued at $484,000. Virtu Financial LLC grew its stake in shares of Coupang by 97.0% in the 4th quarter. Virtu Financial LLC now owns 16,747 shares of the company’s stock worth $395,000 after acquiring an additional 8,248 shares in the last quarter. Corient Private Wealth LLC grew its stake in shares of Coupang by 45.7% in the 4th quarter. Corient Private Wealth LLC now owns 96,441 shares of the company’s stock worth $2,275,000 after acquiring an additional 30,260 shares in the last quarter. Mercer Global Advisors Inc. ADV raised its holdings in shares of Coupang by 28.7% in the fourth quarter. Mercer Global Advisors Inc. ADV now owns 13,726 shares of the company’s stock valued at $324,000 after purchasing an additional 3,057 shares during the last quarter. Finally, Vident Advisory LLC lifted its position in shares of Coupang by 2.1% during the fourth quarter. Vident Advisory LLC now owns 43,146 shares of the company’s stock valued at $1,018,000 after purchasing an additional 906 shares in the last quarter. Hedge funds and other institutional investors own 83.72% of the company’s stock.

Coupang Company Profile

Coupang, listed on the New York Stock Exchange under the ticker CPNG, is a South Korean e-commerce company headquartered in Seoul. Founded in 2010 by Bom Kim, the company grew rapidly by combining an online marketplace with a large direct-retail business model. Coupang completed a primary listing in the United States in 2021, and it has become one of South Korea’s leading online retailers by focusing on convenience, speed and a wide product assortment across consumer categories.

The company operates a vertically integrated e-commerce platform that includes a customer-facing marketplace and an extensive logistics and fulfillment network.