Coupang, Inc. (NYSE:CPNG) Given Consensus Rating of "Moderate Buy" by Brokerages

Coupang, Inc. (NYSE:CPNG - Get Free Report) has been assigned a consensus recommendation of "Moderate Buy" from the eleven brokerages that are currently covering the stock, Marketbeat reports. One investment analyst has rated the stock with a sell rating, three have issued a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company. The average twelve-month price objective among brokers that have updated their coverage on the stock in the last year is $33.50.

Several research firms have recently commented on CPNG. Weiss Ratings reissued a "hold (c)" rating on shares of Coupang in a research report on Wednesday. Morgan Stanley upped their target price on Coupang from $32.00 to $35.00 and gave the company an "overweight" rating in a research report on Wednesday, August 20th. Nomura Securities raised Coupang to a "strong-buy" rating in a research report on Wednesday, August 6th. Wall Street Zen downgraded Coupang from a "buy" rating to a "hold" rating in a research note on Sunday, July 20th. Finally, Nomura upgraded Coupang from a "neutral" rating to a "buy" rating and set a $35.00 price target on the stock in a research note on Wednesday, August 6th.

Insider Buying and Selling at Coupang

In other Coupang news, Director Benjamin Sun sold 815,797 shares of the business's stock in a transaction dated Tuesday, September 9th. The stock was sold at an average price of $31.88, for a total transaction of $26,007,608.36. Following the sale, the director owned 503,624 shares in the company, valued at approximately $16,055,533.12. The trade was a 61.83% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Pedro Franceschi sold 21,428 shares of the company's stock in a transaction dated Thursday, September 11th. The stock was sold at an average price of $32.05, for a total value of $686,767.40. The disclosure for this sale can be found here. In the last quarter, insiders have sold 988,983 shares of company stock worth $31,203,966. 12.78% of the stock is owned by corporate insiders.

Institutional Trading of Coupang

Hedge funds have recently modified their holdings of the stock. Davidson Kahn Capital Management LLC boosted its stake in shares of Coupang by 31.6% in the first quarter. Davidson Kahn Capital Management LLC now owns 103,567 shares of the company's stock worth $2,271,000 after buying an additional 24,877 shares during the last quarter. Altimeter Capital Management LP boosted its stake in shares of Coupang by 24.3% in the first quarter. Altimeter Capital Management LP now owns 7,441,445 shares of the company's stock worth $163,191,000 after buying an additional 1,455,555 shares during the last quarter. Allspring Global Investments Holdings LLC boosted its stake in shares of Coupang by 40.1% in the first quarter. Allspring Global Investments Holdings LLC now owns 305,512 shares of the company's stock worth $6,776,000 after buying an additional 87,412 shares during the last quarter. Vontobel Holding Ltd. purchased a new stake in shares of Coupang in the first quarter worth about $241,000. Finally, Bain Capital Public Equity Management II LLC boosted its stake in shares of Coupang by 39.4% in the first quarter. Bain Capital Public Equity Management II LLC now owns 1,467,232 shares of the company's stock worth $32,176,000 after buying an additional 414,901 shares during the last quarter. Hedge funds and other institutional investors own 83.72% of the company's stock.

Coupang Trading Up 1.0%

CPNG opened at $32.48 on Friday. The firm has a market cap of $59.22 billion, a price-to-earnings ratio of 162.42 and a beta of 1.18. The company has a current ratio of 1.09, a quick ratio of 0.84 and a debt-to-equity ratio of 0.18. Coupang has a 12 month low of $19.02 and a 12 month high of $34.08. The stock has a fifty day moving average price of $30.44 and a 200-day moving average price of $27.88.

Coupang (NYSE:CPNG - Get Free Report) last released its quarterly earnings results on Tuesday, August 5th. The company reported $0.02 EPS for the quarter, missing the consensus estimate of $0.07 by ($0.05). The company had revenue of $8.52 billion during the quarter, compared to the consensus estimate of $8.34 billion. Coupang had a return on equity of 7.47% and a net margin of 1.13%.The company's revenue was up 16.4% on a year-over-year basis. During the same period in the previous year, the firm posted $0.07 earnings per share. As a group, equities research analysts anticipate that Coupang will post 0.17 earnings per share for the current fiscal year.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.