Coupang (NYSE:CPNG) Lowered to Strong Sell Rating by Zacks Research

Key Points

• Coupang has been downgraded by Zacks Research from a "hold" to a "strong sell" rating, indicating a negative outlook on the stock's performance.
• The company recently reported earnings of $0.02 per share, missing analysts' expectations, though it generated $8.52 billion in revenue, surpassing estimates.
• Institutional investors hold 83.72% of Coupang's stock, highlighting significant confidence from large stakeholders despite recent rating changes.

Coupang (NYSE:CPNG - Get Free Report) was downgraded by equities research analysts at Zacks Research from a "hold" rating to a "strong sell" rating in a note issued to investors on Monday,Zacks.com reports.

A number of other brokerages have also recently commented on CPNG. Arete assumed coverage on Coupang in a research note on Thursday, September 18th. They issued a "buy" rating and a $40.00 price target for the company. Deutsche Bank Aktiengesellschaft lowered Coupang from a "buy" rating to a "hold" rating and set a $27.00 price objective for the company. in a research report on Wednesday, August 6th. Wall Street Zen downgraded Coupang from a "buy" rating to a "hold" rating in a research report on Sunday, July 20th. Arete Research started coverage on Coupang in a research report on Thursday, September 18th. They set a "buy" rating and a $40.00 price target for the company. Finally, Morgan Stanley upped their price target on Coupang from $32.00 to $35.00 and gave the stock an "overweight" rating in a research report on Wednesday, August 20th. One investment analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $33.50.

Coupang Stock Performance

Shares of CPNG stock opened at $32.31 on Monday. The company has a debt-to-equity ratio of 0.18, a current ratio of 1.09 and a quick ratio of 0.84. The stock has a market cap of $58.89 billion, a PE ratio of 161.53 and a beta of 1.18. The stock has a 50-day moving average of $30.33 and a 200-day moving average of $27.79. Coupang has a one year low of $19.02 and a one year high of $34.08.

Coupang (NYSE:CPNG - Get Free Report) last announced its quarterly earnings results on Tuesday, August 5th. The company reported $0.02 EPS for the quarter, missing analysts' consensus estimates 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 net margin of 1.13% and a return on equity of 7.47%. The business's revenue was up 16.4% compared to the same quarter last year. During the same period last year, the company earned $0.07 earnings per share. As a group, sell-side analysts expect that Coupang will post 0.17 earnings per share for the current year.

Insider Buying and Selling

In other Coupang news, Director Pedro Franceschi sold 21,428 shares of the firm's stock in a transaction on Thursday, September 11th. The stock was sold at an average price of $32.05, for a total transaction of $686,767.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, VP Pranam Kolari sold 11,653 shares of the firm's stock in a transaction on Monday, August 4th. The shares were sold at an average price of $29.14, for a total value of $339,568.42. Following the sale, the vice president directly owned 158,676 shares of the company's stock, valued at $4,623,818.64. This represents a 6.84% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 988,983 shares of company stock worth $31,203,966 in the last quarter. 12.78% of the stock is owned by company insiders.

Institutional Investors Weigh In On Coupang

Hedge funds have recently added to or reduced their stakes in the business. SVB Wealth LLC acquired a new stake in Coupang during the 1st quarter valued at $28,000. Bank Julius Baer & Co. Ltd Zurich acquired a new stake in shares of Coupang during the first quarter worth $30,000. Albion Financial Group UT bought a new stake in shares of Coupang in the second quarter valued at about $30,000. Grove Bank & Trust bought a new stake in shares of Coupang in the first quarter valued at about $33,000. Finally, Brooklyn Investment Group boosted its position in shares of Coupang by 43.1% in the first quarter. Brooklyn Investment Group now owns 1,680 shares of the company's stock valued at $37,000 after acquiring an additional 506 shares during the period. Institutional investors and hedge funds own 83.72% of the company's stock.

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.

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