Coupang (NYSE:CPNG) Hits New 1-Year Low - Here's What Happened

Key Points

• Coupang shares hit a new 52-week low, trading as low as $16.48 after closing at $16.98 the prior day. The move came amid heavier volume of about 2.34 million shares.
• Analyst sentiment remains cautious, with several firms cutting ratings or price targets, including Citigroup and Mizuho. The stock now carries a consensus “Hold” rating and a target price of $26.92.
• Recent earnings disappointed on profit but beat slightly on revenue, as Coupang reported a loss of $0.15 per share versus expectations for a $0.09 loss. Revenue rose 7.5% year over year to $8.50 billion, but the company remains unprofitable.

Coupang, Inc. (NYSE:CPNG - Get Free Report)'s share price hit a new 52-week low during mid-day trading on Monday . The company traded as low as $16.48 and last traded at $16.4080, with a volume of 2338992 shares changing hands. The stock had previously closed at $16.98.

Analysts Set New Price Targets

CPNG has been the subject of a number of research analyst reports. Weiss Ratings cut shares of Coupang from a "sell (d+)" rating to a "sell (d)" rating in a report on Thursday. Sanford C. Bernstein reaffirmed an "underperform" rating on shares of Coupang in a report on Monday, March 2nd. Citigroup cut shares of Coupang from a "buy" rating to a "neutral" rating and dropped their target price for the company from $23.00 to $22.20 in a report on Wednesday, May 6th. Wall Street Zen cut shares of Coupang from a "hold" rating to a "strong sell" rating in a report on Saturday, March 14th. Finally, Mizuho dropped their price objective on shares of Coupang from $32.00 to $25.00 and set a "neutral" rating for the company in a research note on Friday, February 27th. Four investment analysts have rated the stock with a Buy rating, five have assigned a Hold rating and two have issued a Sell rating to the company's stock. According to data from MarketBeat, Coupang presently has a consensus rating of "Hold" and a consensus target price of $26.92.

Coupang Stock Performance

The company has a current ratio of 0.97, a quick ratio of 0.76 and a debt-to-equity ratio of 0.16. The stock's 50 day moving average price is $19.54 and its two-hundred day moving average price is $22.62. The firm has a market capitalization of $29.75 billion, a PE ratio of -180.81 and a beta of 1.20.

Coupang (NYSE:CPNG - Get Free Report) last released its earnings results on Tuesday, May 5th. The company reported ($0.15) EPS for the quarter, missing the consensus estimate of ($0.09) by ($0.06). The firm had revenue of $8.50 billion during the quarter, compared to analysts' expectations of $8.48 billion. Coupang had a negative return on equity of 3.67% and a negative net margin of 0.47%.The firm's revenue was up 7.5% on a year-over-year basis. During the same period in the previous year, the firm posted $0.06 earnings per share. On average, equities analysts expect that Coupang, Inc. will post -0.17 earnings per share for the current year.

Insider Buying and Selling

In other news, Director Neil Mehta bought 2,332,863 shares of the stock in a transaction on Friday, March 13th. The stock was purchased at an average cost of $18.40 per share, with a total value of $42,924,679.20. Following the purchase, the director owned 55,310,977 shares of the company's stock, valued at approximately $1,017,721,976.80. The trade was a 4.40% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available at this link. Over the last three months, insiders have purchased 7,350,104 shares of company stock valued at $136,566,051. 12.78% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Coupang

Hedge funds have recently made changes to their positions in the stock. Sunbelt Securities Inc. acquired a new position in shares of Coupang in the 3rd quarter valued at $26,000. Reflection Asset Management acquired a new position in shares of Coupang in the 4th quarter valued at $28,000. Orion Capital Management LLC acquired a new position in shares of Coupang in the 3rd quarter valued at $32,000. Webster Bank N. A. boosted its holdings in shares of Coupang by 325.8% in the 1st quarter. Webster Bank N. A. now owns 1,699 shares of the company's stock valued at $32,000 after purchasing an additional 1,300 shares during the last quarter. Finally, Fifth Third Bancorp boosted its holdings in shares of Coupang by 1,250.0% in the 3rd quarter. Fifth Third Bancorp now owns 1,080 shares of the company's stock valued at $35,000 after purchasing an additional 1,000 shares during the last quarter. Institutional investors and hedge funds own 83.72% of the company's stock.

About Coupang

Coupang, listed on the New York Stock Exchange under the ticker CPNG, is a South Korean e-commerce company headquartered in Seoul. Founded in 2010 by Bom Kim, the company grew rapidly by combining an online marketplace with a large direct-retail business model. Coupang completed a primary listing in the United States in 2021, and it has become one of South Korea's leading online retailers by focusing on convenience, speed and a wide product assortment across consumer categories.

The company operates a vertically integrated e-commerce platform that includes a customer-facing marketplace and an extensive logistics and fulfillment network.

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.