Citigroup Raises Coupang (NYSE:CPNG) Price Target to $28.00

Coupang (NYSE:CPNG) had its price target boosted by research analysts at Citigroup from $26.00 to $28.00 in a note issued to investors on Wednesday, Benzinga reports. The brokerage currently has a “buy” rating on the stock. Citigroup’s price target suggests a potential upside of 29.87% from the stock’s previous close.

Other research analysts also recently issued research reports about the stock. Bank of America initiated coverage on shares of Coupang in a research report on Friday, May 3rd. They issued a “buy” rating and a $30.00 target price for the company. Barclays lifted their target price on Coupang from $24.00 to $25.00 and gave the company an “overweight” rating in a research report on Thursday, February 29th. Deutsche Bank Aktiengesellschaft raised Coupang from a “hold” rating to a “buy” rating and increased their price target for the company from $18.50 to $21.00 in a research report on Thursday, February 29th. Mizuho raised their price target on Coupang from $20.00 to $23.00 and gave the company a “neutral” rating in a research note on Wednesday. Finally, TheStreet raised shares of Coupang from a “d+” rating to a “c-” rating in a report on Tuesday, March 5th. Two equities research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $24.25.

Coupang Trading Down 8.8 %

NYSE CPNG traded down $2.09 during trading on Wednesday, reaching $21.56. 28,782,587 shares of the stock traded hands, compared to its average volume of 13,334,394. The stock’s 50-day moving average price is $19.91 and its 200 day moving average price is $17.24. The company has a quick ratio of 0.90, a current ratio of 1.14 and a debt-to-equity ratio of 0.13. The firm has a market cap of $38.66 billion, a price-to-earnings ratio of 28.71, a price-to-earnings-growth ratio of 19.21 and a beta of 1.13. Coupang has a fifty-two week low of $13.51 and a fifty-two week high of $23.77.

Coupang (NYSE:CPNG) last released its quarterly earnings results on Tuesday, May 7th. The company reported $0.05 EPS for the quarter, missing analysts’ consensus estimates of $0.06 by ($0.01). Coupang had a return on equity of 15.04% and a net margin of 5.57%. The business had revenue of $7.11 billion for the quarter, compared to analyst estimates of $6.95 billion. During the same period in the prior year, the business earned $0.05 EPS. The company’s revenue for the quarter was up 22.6% compared to the same quarter last year. Analysts predict that Coupang will post 0.35 EPS for the current year.

Insider Transactions at Coupang

In related news, Director Neil Mehta sold 1,600,000 shares of the stock in a transaction on Thursday, March 14th. The shares were sold at an average price of $18.68, for a total transaction of $29,888,000.00. Following the transaction, the director now directly owns 48,006,135 shares of the company’s stock, valued at $896,754,601.80. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other news, major shareholder Svf Investments (Uk) Ltd sold 31,614,154 shares of the stock in a transaction that occurred on Tuesday, March 12th. The stock was sold at an average price of $19.01, for a total value of $600,985,067.54. Following the completion of the sale, the insider now directly owns 364,542,259 shares of the company’s stock, valued at $6,929,948,343.59. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Neil Mehta sold 1,600,000 shares of the firm’s stock in a transaction that occurred on Thursday, March 14th. The shares were sold at an average price of $18.68, for a total value of $29,888,000.00. Following the completion of the transaction, the director now owns 48,006,135 shares in the company, valued at approximately $896,754,601.80. The disclosure for this sale can be found here. Insiders sold 33,355,282 shares of company stock worth $633,457,030 over the last ninety days. 14.90% of the stock is owned by insiders.

Hedge Funds Weigh In On Coupang

Several hedge funds have recently modified their holdings of CPNG. Global Retirement Partners LLC increased its position in Coupang by 135.8% in the first quarter. Global Retirement Partners LLC now owns 1,436 shares of the company’s stock worth $26,000 after buying an additional 827 shares during the last quarter. Headinvest LLC bought a new stake in shares of Coupang during the 3rd quarter valued at about $29,000. Register Financial Advisors LLC bought a new position in shares of Coupang in the 1st quarter worth $50,000. NBC Securities Inc. purchased a new stake in shares of Coupang during the 3rd quarter valued at $51,000. Finally, Nomura Asset Management Co. Ltd. grew its position in Coupang by 27.2% in the fourth quarter. Nomura Asset Management Co. Ltd. now owns 8,528 shares of the company’s stock worth $138,000 after acquiring an additional 1,821 shares in the last quarter. 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.