Coupang (NYSE:CPNG) Hits New 1-Year High - Here's Why

Key Points

• Coupang's shares reached a new 52-week high of $31.79, with the last trading price at $31.48 and a notable trading volume of over 46 million shares.
• Analysts have shown mixed sentiments, with Deutsche Bank downgrading Coupang from "buy" to "hold" while other firms like Morgan Stanley set a higher price objective of $35, reflecting varying confidence in the stock.
• Coupang's recent quarterly earnings missed expectations, reporting $0.02 earnings per share against a consensus of $0.07, despite a revenue increase of 16.4% year-over-year.

Coupang, Inc. (NYSE:CPNG - Get Free Report) shares hit a new 52-week high on Tuesday . The company traded as high as $31.79 and last traded at $31.48, with a volume of 46892859 shares traded. The stock had previously closed at $28.91.

Analysts Set New Price Targets

Several equities analysts have commented on CPNG shares. Deutsche Bank Aktiengesellschaft downgraded shares of Coupang from a "buy" rating to a "hold" rating and set a $27.00 price objective on the stock. in a report on Wednesday, August 6th. Wall Street Zen downgraded shares of Coupang from a "buy" rating to a "hold" rating in a report on Sunday, July 20th. Morgan Stanley upped their price objective on shares of Coupang from $32.00 to $35.00 and gave the company an "overweight" rating in a report on Wednesday, August 20th. Nomura upgraded shares of Coupang from a "neutral" rating to a "buy" rating and set a $35.00 price objective on the stock in a report on Wednesday, August 6th. Finally, Nomura Securities upgraded shares of Coupang to a "strong-buy" rating in a report on Wednesday, August 6th. One research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and two have issued a Hold rating to the company's stock. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $31.14.

Coupang Price Performance

The company has a quick ratio of 0.84, a current ratio of 1.09 and a debt-to-equity ratio of 0.18. The company's 50 day moving average is $29.44 and its 200 day moving average is $26.46. The firm has a market capitalization of $57.40 billion, a price-to-earnings ratio of 157.42 and a beta of 1.15.

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

Insider Transactions at Coupang

In other Coupang news, major shareholder Svf Investments (Uk) Ltd sold 10,000,000 shares of the stock in a transaction that occurred on Friday, June 13th. The shares were sold at an average price of $28.25, for a total transaction of $282,500,000.00. Following the completion of the sale, the insider owned 309,542,259 shares of the company's stock, valued at approximately $8,744,568,816.75. This represents a 3.13% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO Gaurav Anand sold 75,350 shares of the stock in a transaction that occurred on Monday, August 11th. The shares were sold at an average price of $27.79, for a total transaction of $2,093,976.50. Following the sale, the chief financial officer directly owned 2,016,940 shares of the company's stock, valued at $56,050,762.60. This represents a 3.60% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 10,087,003 shares of company stock valued at $284,933,545. 12.78% of the stock is currently owned by insiders.

Institutional Trading of Coupang

Several large investors have recently modified their holdings of the stock. Dodge & Cox grew its stake in shares of Coupang by 101.6% in the first quarter. Dodge & Cox now owns 40,784,920 shares of the company's stock worth $894,413,000 after acquiring an additional 20,555,600 shares during the last quarter. Norges Bank purchased a new stake in shares of Coupang in the second quarter worth $587,186,000. GQG Partners LLC purchased a new stake in shares of Coupang in the first quarter worth $168,127,000. Massachusetts Financial Services Co. MA grew its stake in shares of Coupang by 436.6% in the first quarter. Massachusetts Financial Services Co. MA now owns 8,686,580 shares of the company's stock worth $190,497,000 after acquiring an additional 7,067,830 shares during the last quarter. Finally, Eminence Capital LP purchased a new stake in shares of Coupang in the second quarter worth $204,840,000. Institutional investors and hedge funds own 83.72% of the company's stock.

About Coupang

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.

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