Coupang (NYSE:CPNG) Raised to Buy at Nomura

Key Points

• Coupang's stock has been upgraded by Nomura from a "neutral" to a "buy" rating, with a price target of $35.00, suggesting a potential upside of 17.14%.
• The company reported $8.52 billion in quarterly revenue, exceeding analyst estimates, but missed EPS expectations by $0.05.
• A significant insider transaction saw Director Greenoaks Capital Partners acquiring 750,000 shares, increasing their stake in the company by 1.40%.

Coupang (NYSE:CPNG - Get Free Report) was upgraded by equities research analysts at Nomura from a "neutral" rating to a "buy" rating in a report released on Wednesday,Briefing.com Automated Import reports. The brokerage presently has a $35.00 price objective on the stock. Nomura's price target would indicate a potential upside of 17.14% from the stock's previous close.

Several other analysts also recently commented on the stock. Wall Street Zen downgraded shares of Coupang from a "buy" rating to a "hold" rating in a research report on Sunday, July 20th. Mizuho raised shares of Coupang to a "hold" rating in a report on Friday, April 18th. Deutsche Bank Aktiengesellschaft downgraded shares of Coupang from a "buy" rating to a "hold" rating and set a $27.00 target price for the company. in a research note on Wednesday. Finally, Barclays boosted their price target on Coupang from $35.00 to $36.00 and gave the company an "overweight" rating in a research report on Thursday, May 8th. Three research analysts have rated the stock with a hold rating and five have given a buy rating to the company's stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $30.57.

Coupang Stock Up 0.8%

CPNG opened at $29.88 on Wednesday. Coupang has a one year low of $19.02 and a one year high of $31.65. The company has a debt-to-equity ratio of 0.23, a quick ratio of 0.90 and a current ratio of 1.16. The stock has a market capitalization of $54.25 billion, a P/E ratio of 213.43 and a beta of 1.16. The business's 50-day simple moving average is $29.46 and its 200-day simple moving average is $25.64.

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 firm had revenue of $8.52 billion for the quarter, compared to analyst estimates of $8.34 billion. Coupang had a return on equity of 10.07% and a net margin of 0.82%. The company's quarterly revenue was up 16.4% on a year-over-year basis. During the same period last year, the firm earned $0.07 EPS. Analysts anticipate that Coupang will post 0.17 EPS for the current year.

Insider Activity

In related news, Director Greenoaks Capital Partners Llc acquired 750,000 shares of the business's stock in a transaction that occurred on Wednesday, May 14th. The stock was purchased at an average cost of $26.78 per share, for a total transaction of $20,085,000.00. Following the transaction, the director directly owned 54,481,161 shares of the company's stock, valued at approximately $1,459,005,491.58. This trade represents a 1.40% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, CFO Gaurav Anand sold 175,000 shares of the stock in a transaction on Thursday, May 29th. The shares were sold at an average price of $28.11, for a total value of $4,919,250.00. Following the sale, the chief financial officer owned 2,092,290 shares in the company, valued at approximately $58,814,271.90. This trade represents a 7.72% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 40,462,003 shares of company stock worth $1,067,897,453 in the last three months. Company insiders own 12.78% of the company's stock.

Institutional Trading of Coupang

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Atlantic Union Bankshares Corp purchased a new stake in Coupang during the 2nd quarter worth about $78,000. Bryce Point Capital LLC purchased a new position in Coupang in the 2nd quarter valued at about $874,000. Corton Capital Inc. acquired a new stake in shares of Coupang during the 2nd quarter worth about $265,000. Sigma Planning Corp grew its holdings in shares of Coupang by 6.0% during the second quarter. Sigma Planning Corp now owns 16,413 shares of the company's stock worth $492,000 after buying an additional 933 shares in the last quarter. Finally, Canton Hathaway LLC acquired a new position in shares of Coupang in the second quarter valued at approximately $120,000. 83.72% of the stock is currently owned by hedge funds and other institutional investors.

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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