Zacks Investment Research Lowers Coupang (NYSE:CPNG) to Sell

Zacks Investment Research cut shares of Coupang (NYSE:CPNG) from a hold rating to a sell rating in a research note issued to investors on Tuesday, Zacks.com reports.

According to Zacks, “Coupang, Inc. owns and operates in e-commerce business through its mobile applications and Internet websites primarily in South Korea. It sells products and services in the categories of home goods and dÃcor products, apparel, beauty products, fresh food and groceries, sporting goods, electronics and everyday consumables, as well as travel and restaurant order and delivery services. Coupang, Inc. is based in Seoul, South Korea. “

Other equities research analysts also recently issued research reports about the company. The Goldman Sachs Group assumed coverage on Coupang in a report on Monday, April 5th. They set a buy rating and a $62.00 price objective for the company. Deutsche Bank Aktiengesellschaft upgraded shares of Coupang from a hold rating to a buy rating in a report on Wednesday, May 19th. Citigroup lowered their target price on shares of Coupang from $50.00 to $39.00 and set a neutral rating on the stock in a report on Thursday, May 13th. Citigroup Inc. 3% Minimum Coupon Principal Protected Based Upon Russell cut their price target on Coupang from $50.00 to $39.00 and set a neutral rating for the company in a research note on Thursday, May 13th. Finally, JPMorgan Chase & Co. began coverage on Coupang in a research note on Tuesday, April 6th. They issued a neutral rating and a $48.00 price objective for the company. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and two have issued a buy rating to the stock. Coupang presently has a consensus rating of Hold and a consensus target price of $45.00.

Shares of NYSE CPNG opened at $38.06 on Tuesday. The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.24 and a current ratio of 1.57. The business’s fifty day moving average is $41.40. Coupang has a 12-month low of $30.65 and a 12-month high of $69.00.

Coupang (NYSE:CPNG) last released its quarterly earnings data on Wednesday, May 12th. The company reported ($0.68) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.16) by ($0.52). Equities research analysts predict that Coupang will post -0.52 earnings per share for the current fiscal year.

In related news, CEO Bom Suk Kim sold 1,200,000 shares of the firm’s stock in a transaction dated Monday, March 15th. The shares were sold at an average price of $35.00, for a total transaction of $42,000,000.00. Following the completion of the sale, the chief executive officer now owns 1,200,000 shares in the company, valued at $42,000,000. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Lydia Jett acquired 28,571 shares of the stock in a transaction on Monday, March 15th. The stock was bought at an average cost of $35.00 per share, for a total transaction of $999,985.00. Following the transaction, the director now owns 28,571 shares of the company’s stock, valued at approximately $999,985. The disclosure for this purchase can be found here.

Several large investors have recently bought and sold shares of CPNG. Advisory Services Network LLC bought a new position in Coupang during the first quarter valued at $739,000. Mezzasalma Advisors LLC purchased a new position in shares of Coupang during the 1st quarter valued at $2,897,000. Arena Capital Advisors LLC CA bought a new position in shares of Coupang during the 1st quarter worth $1,234,000. Blackstone Group Inc. bought a new position in shares of Coupang during the 1st quarter worth $494,000. Finally, Comprehensive Financial Management LLC purchased a new stake in Coupang in the 1st quarter worth about $1,015,000. 70.71% of the stock is currently owned by institutional investors.

Coupang Company Profile

Coupang, Inc owns and operates in e-commerce business through its mobile applications and Internet websites primarily in South Korea. 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.

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