Coupang (NYSE:CPNG) Rating Lowered to Neutral at Citigroup

Coupang (NYSE:CPNG) was downgraded by stock analysts at Citigroup from a “buy” rating to a “neutral” rating in a research note issued on Wednesday, Marketbeat.com reports. They presently have a $22.20 target price on the stock. Citigroup’s target price would indicate a potential upside of 6.86% from the stock’s current price.

CPNG has been the subject of a number of other research reports. 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 report on Friday, February 27th. Morgan Stanley decreased their price objective on shares of Coupang from $31.00 to $29.00 and set an “overweight” rating for the company in a report on Monday, March 2nd. UBS Group set a $25.00 price objective on shares of Coupang in a report on Thursday, February 19th. Weiss Ratings downgraded shares of Coupang from a “hold (c)” rating to a “sell (d+)” rating in a report on Monday, March 2nd. Finally, Sanford C. Bernstein reaffirmed an “underperform” rating on shares of Coupang in a report on Monday, March 2nd. Five analysts have rated the stock with a Buy rating, four have given a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat, Coupang currently has a consensus rating of “Hold” and a consensus target price of $27.12.

Coupang Stock Up 2.5%

CPNG stock opened at $20.77 on Wednesday. Coupang has a twelve month low of $16.74 and a twelve month high of $34.08. The company has a current ratio of 1.04, a quick ratio of 0.79 and a debt-to-equity ratio of 0.14. The company has a market capitalization of $37.98 billion, a P/E ratio of 173.13 and a beta of 1.20. The firm has a 50 day simple moving average of $19.58 and a 200-day simple moving average of $22.82.

Coupang (NYSE:CPNG) last released its quarterly earnings results on Tuesday, May 5th. The company reported ($0.15) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.09) by ($0.06). Coupang had a return on equity of 4.52% and a net margin of 0.60%.The company had revenue of $8.50 billion for the quarter, compared to analyst estimates of $8.48 billion. During the same period in the previous year, the business posted $0.06 EPS. The firm’s quarterly revenue was up 7.5% compared to the same quarter last year. On average, equities research analysts predict that Coupang will post -0.15 earnings per share for the current fiscal year.

Insider Activity

In other news, Director Neil Mehta purchased 3,000,000 shares of Coupang stock in a transaction dated Thursday, March 12th. The stock was bought at an average price of $18.68 per share, with a total value of $56,040,000.00. Following the completion of the acquisition, the director owned 52,978,114 shares in the company, valued at $989,631,169.52. The trade was a 6.00% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders have acquired a total of 7,350,104 shares of company stock worth $136,566,051 over the last three months. Insiders own 12.78% of the company’s stock.

Hedge Funds Weigh In On Coupang

Several hedge funds and other institutional investors have recently modified their holdings of CPNG. Sunbelt Securities Inc. acquired a new position in shares of Coupang during the third quarter valued at $26,000. Reflection Asset Management acquired a new position in shares of Coupang during the fourth quarter valued at $28,000. Orion Capital Management LLC acquired a new position in shares of Coupang during the third quarter valued at $32,000. Webster Bank N. A. boosted its holdings in shares of Coupang by 325.8% during the first quarter. Webster Bank N. A. now owns 1,699 shares of the company’s stock valued at $32,000 after acquiring an additional 1,300 shares during the period. Finally, Fifth Third Bancorp boosted its holdings in shares of Coupang by 1,250.0% during the third quarter. Fifth Third Bancorp now owns 1,080 shares of the company’s stock valued at $35,000 after acquiring an additional 1,000 shares during the period. Institutional investors and hedge funds own 83.72% of the company’s stock.

About Coupang

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.