Coupang, Inc. (NYSE:CPNG) Stock Has Average Price Target of $24.06 According to Brokerages

Key Points

• Analyst consensus is “Hold” for Coupang, with five buys, four holds and two sells among 11 covering firms. The average 12-month price target is $24.06, though targets range from $22 to $29.
• Coupang reported a quarterly loss of $0.09 per share, beating the expected $0.27 loss, while revenue reached $8.86 billion, up 3.9% year over year but slightly below estimates.
• The stock opened at $13.91, near its 52-week low of $13.88 and well below its 52-week high of $32.96. Institutional investors own 83.72% of the company, while two insiders recently sold shares under a pre-arranged trading plan.

Shares of Coupang, Inc. (NYSE:CPNG - Get Free Report) have been assigned an average rating of "Hold" from the eleven research firms that are currently covering the company, MarketBeat.com reports. Two investment analysts have rated the stock with a sell rating, four have given a hold rating and five have issued a buy rating on the company. The average twelve-month price objective among analysts that have covered the stock in the last year is $24.06.

Several research firms have commented on CPNG. Bank of America cut their price target on Coupang from $27.00 to $24.00 and set a "buy" rating on the stock in a research report on Wednesday, August 5th. Mizuho set a $22.00 price objective on Coupang in a report on Wednesday, August 5th. CLSA assumed coverage on shares of Coupang in a research report on Monday, June 15th. They set an "outperform" rating and a $24.00 target price on the stock. Weiss Ratings reiterated a "sell (d)" rating on shares of Coupang in a research report on Tuesday, August 4th. Finally, Barclays reiterated an "overweight" rating and set a $29.00 price target on shares of Coupang in a research note on Tuesday, July 7th.

Insiders Place Their Bets

In related news, insider Harold Rogers sold 192,110 shares of the firm's stock in a transaction dated Monday, August 10th. The stock was sold at an average price of $16.18, for a total transaction of $3,108,339.80. Following the transaction, the insider owned 740,931 shares of the company's stock, valued at $11,988,263.58. This trade represents a 20.59% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CAO Jonathan D. Lee sold 5,519 shares of the firm's stock in a transaction dated Monday, August 10th. The stock was sold at an average price of $16.10, for a total value of $88,855.90. Following the transaction, the chief accounting officer directly owned 181,915 shares in the company, valued at approximately $2,928,831.50. This represents a 2.94% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 12.83% of the company's stock.

Institutional Trading of Coupang

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Sequoia Financial Advisors LLC grew its stake in shares of Coupang by 18.0% in the 2nd quarter. Sequoia Financial Advisors LLC now owns 89,534 shares of the company's stock valued at $1,555,000 after purchasing an additional 13,666 shares during the last quarter. MCF Advisors LLC increased its holdings in shares of Coupang by 806.8% in the second quarter. MCF Advisors LLC now owns 13,793 shares of the company's stock valued at $240,000 after purchasing an additional 12,272 shares during the period. Engineers Gate Manager LP purchased a new stake in shares of Coupang during the second quarter worth approximately $6,081,000. Carrhae Capital LLP purchased a new stake in shares of Coupang during the second quarter worth approximately $38,187,000. Finally, Light Street Capital Management LLC lifted its holdings in shares of Coupang by 92.5% during the second quarter. Light Street Capital Management LLC now owns 2,025,000 shares of the company's stock worth $35,174,000 after purchasing an additional 973,043 shares during the period. 83.72% of the stock is owned by hedge funds and other institutional investors.

Coupang Stock Performance

NYSE CPNG opened at $13.91 on Friday. The company has a fifty day moving average of $15.70 and a two-hundred day moving average of $17.33. The company has a market capitalization of $25.01 billion, a PE ratio of -32.36 and a beta of 1.15. Coupang has a 1 year low of $13.88 and a 1 year high of $32.96. The company has a debt-to-equity ratio of 0.21, a current ratio of 0.87 and a quick ratio of 0.68.

Coupang (NYSE:CPNG - Get Free Report) last posted its earnings results on Tuesday, August 4th. The company reported ($0.09) EPS for the quarter, topping analysts' consensus estimates of ($0.27) by $0.18. The business had revenue of $8.86 billion for the quarter, compared to analysts' expectations of $8.92 billion. Coupang had a negative return on equity of 8.77% and a negative net margin of 2.16%.The business's revenue was up 3.9% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.02 earnings per share. As a group, analysts expect that Coupang will post -0.46 earnings per share for the current year.

Coupang Company Profile

Coupang, Inc NYSE: CPNG is an e-commerce and technology company founded in South Korea in 2010. The company operates an online marketplace offering consumer goods across categories such as electronics, household products, apparel, beauty products and groceries.

Its services include Rocket Delivery, a logistics and fulfillment network designed to provide fast delivery; Rocket Fresh, its grocery delivery service; and Coupang Eats, a food-ordering and delivery platform. Coupang also operates Coupang Play, a subscription-based streaming service, and Coupang Pay, a digital payments service.

Coupang serves customers primarily in South Korea and Taiwan.

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