Barclays Forecasts Strong Price Appreciation for Coupang (NYSE:CPNG) Stock

Key Points

• Barclays raised its Coupang price target from $29 to $32 and maintained an “overweight” rating, implying about 98.7% upside from the stock’s current price.
• Analyst views are mixed: the consensus rating is “Hold,” with an average price target of $23.41, while ratings range from Buy to Sell.
• Coupang’s quarterly revenue of $9.96 billion topped estimates, but its loss of $0.18 per share was worse than expected and compared with a profit a year earlier.

Coupang (NYSE:CPNG - Get Free Report) had its price objective upped by Barclays from $29.00 to $32.00 in a research report issued to clients and investors on Thursday, Benzinga reports. The brokerage presently has an "overweight" rating on the stock. Barclays's target price points to a potential upside of 98.70% from the stock's current price.

CPNG has been the subject of several other research reports. The Goldman Sachs Group set a $31.00 price objective on Coupang in a report on Thursday, July 9th. Deutsche Bank Aktiengesellschaft upgraded shares of Coupang from a "hold" rating to a "buy" rating and decreased their price target for the stock from $23.00 to $21.50 in a research report on Wednesday, August 5th. Sanford C. Bernstein dropped their price target on Coupang from $12.00 to $11.00 and set an "underperform" rating on the stock in a report on Thursday. Weiss Ratings reiterated a "sell (d)" rating on shares of Coupang in a research report on Monday. Finally, Mizuho set a $21.00 price objective on Coupang in a research note on Wednesday. Six analysts have rated the stock with a Buy rating, two have given a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of "Hold" and a consensus target price of $23.41.

Coupang Stock Performance

NYSE:CPNG traded down $0.94 during mid-day trading on Thursday, hitting $16.11. The stock had a trading volume of 21,146,482 shares, compared to its average volume of 21,194,148. Coupang has a 52 week low of $13.35 and a 52 week high of $30.09. The company has a current ratio of 0.87, a quick ratio of 0.68 and a debt-to-equity ratio of 0.21. The stock has a market capitalization of $28.95 billion, a price-to-earnings ratio of -21.18 and a beta of 1.15. The company has a 50 day simple moving average of $14.74 and a 200-day simple moving average of $17.19.

Coupang (NYSE:CPNG - Get Free Report) last posted its earnings results on Tuesday, November 3rd. The company reported ($0.18) EPS for the quarter, missing the consensus estimate of ($0.09) by ($0.09). Coupang had a negative net margin of 3.77% and a negative return on equity of 20.09%. The business had revenue of $9.96 billion during the quarter, compared to analyst estimates of $9.76 billion. During the same quarter in the prior year, the business earned $0.05 earnings per share. The firm's revenue was up 7.5% compared to the same quarter last year. On average, research analysts expect that Coupang will post -0.47 earnings per share for the current fiscal year.

Insider Buying and Selling at Coupang

In other news, CAO Jonathan D. Lee sold 5,519 shares of Coupang stock in a transaction on Friday, October 2nd. The stock was sold at an average price of $13.65, for a total transaction of $75,334.35. Following the transaction, the chief accounting officer owned 176,396 shares in the company, valued at approximately $2,407,805.40. The trade was a 3.03% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Harold Rogers sold 192,110 shares of the company's stock in a transaction on Monday, August 10th. The shares were sold at an average price of $16.18, for a total value of $3,108,339.80. Following the transaction, the insider directly owned 740,931 shares in the company, valued at $11,988,263.58. The trade was a 20.59% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders have sold 203,148 shares of company stock worth $3,272,530. Company insiders own 12.83% of the company's stock.

Institutional Investors Weigh In On Coupang

Institutional investors have recently bought and sold shares of the business. Light Street Capital Management LLC lifted its position in shares of Coupang by 92.5% during the 2nd quarter. Light Street Capital Management LLC now owns 2,025,000 shares of the company's stock valued at $35,174,000 after acquiring an additional 973,043 shares during the period. Nellore Capital Management LLC lifted its stake in Coupang by 12.6% in the 2nd quarter. Nellore Capital Management LLC now owns 3,760,975 shares of the company's stock valued at $65,328,000 after purchasing an additional 420,000 shares during the last quarter. Nykredit A S bought a new stake in Coupang during the 2nd quarter worth $1,270,000. Corient Private Wealth LP increased its stake in shares of Coupang by 490.6% in the second quarter. Corient Private Wealth LP now owns 655,963 shares of the company's stock valued at $11,394,000 after buying an additional 544,899 shares during the period. Finally, Assenagon Asset Management S.A. lifted its holdings in shares of Coupang by 112.3% during the third quarter. Assenagon Asset Management S.A. now owns 28,102,139 shares of the company's stock worth $389,777,000 after purchasing an additional 14,865,737 shares during the period. 83.72% of the stock is currently owned by institutional investors and hedge funds.

Coupang News Summary

Here are the key news stories impacting Coupang this week:

• Positive Sentiment: Coupang forecast fourth-quarter constant-currency revenue growth of 13%–14% and 50–150 basis points of adjusted EBITDA margin expansion. Q4 guidance
• Positive Sentiment: Third-quarter revenue reached $9.96 billion, topping estimates; constant-currency revenue grew 11% year over year. Taiwan WOW membership more than doubled, signaling continued customer growth. Long-term investor takeaways
• Positive Sentiment: Citigroup upgraded CPNG from Neutral to Buy and set a $19 price target, reflecting a more favorable view of the stock’s prospects. Citi upgrade
• Negative Sentiment: Despite beating revenue expectations, Coupang reported a quarterly loss of $0.18 per share, worse than the $0.09 loss expected in the provided earnings data, and down from a $0.05 profit a year earlier. The earnings shortfall and widening losses may be weighing on sentiment. Q3 earnings report

About Coupang

Coupang, Inc is an e-commerce and technology company that operates a large digital retail platform. The company offers a broad selection of merchandise, including electronics, household goods, apparel, beauty products and groceries. Its services include Rocket Delivery, a fast-delivery program; Rocket Fresh, which focuses on fresh food and groceries; and Wow, a membership program that provides delivery and other customer benefits.

Coupang also operates Coupang Eats, a restaurant-ordering and delivery service, as well as Coupang Play, a digital video streaming platform.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.