Coupang (NYSE:CPNG) Hits New 12-Month High - What's Next?

Key Points

• Coupang's shares reached a new 52-week high of $33.14 amid increased trading volume, closing at $33.12 on Monday.
• Analysts issued mixed ratings on Coupang, with Nomura upgrading to "strong-buy" with a target price of $35, while Deutsche Bank downgraded to "hold" with a $27 target.
• The company reported a 16.4% year-over-year revenue increase but missed earnings per share estimates, reporting $0.02 compared to a consensus of $0.07.

Coupang, Inc. (NYSE:CPNG - Get Free Report)'s stock price reached a new 52-week high during trading on Monday . The company traded as high as $33.14 and last traded at $33.12, with a volume of 1882629 shares trading hands. The stock had previously closed at $32.41.

Analyst Ratings Changes

A number of equities research analysts have recently commented on the company. Nomura Securities upgraded Coupang to a "strong-buy" rating in a research report on Wednesday, August 6th. Morgan Stanley raised 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 upgraded Coupang from a "neutral" rating to a "buy" rating and set a $35.00 target price on the stock in a research report on Wednesday, August 6th. Arete Research initiated coverage on shares of Coupang in a research note on Thursday. They issued a "buy" rating and a $40.00 price target on the stock. Finally, Deutsche Bank Aktiengesellschaft lowered shares of Coupang from a "buy" rating to a "hold" rating and set a $27.00 price target on the stock. in a research note on Wednesday, August 6th. One equities research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and two have given a Hold rating to the company's stock. Based on data from MarketBeat.com, Coupang has a consensus rating of "Moderate Buy" and an average price target of $33.11.

Coupang Price Performance

The company has a debt-to-equity ratio of 0.18, a quick ratio of 0.84 and a current ratio of 1.09. The stock's 50 day simple moving average is $29.94 and its two-hundred day simple moving average is $26.97. The firm has a market capitalization of $60.07 billion, a PE ratio of 164.76 and a beta of 1.15.

Coupang (NYSE:CPNG - Get Free Report) last released its earnings results on Tuesday, August 5th. The company reported $0.02 earnings per share for the quarter, missing analysts' consensus estimates of $0.07 by ($0.05). Coupang had a return on equity of 7.47% and a net margin of 1.13%.The business had revenue of $8.52 billion during the quarter, compared to analysts' expectations of $8.34 billion. During the same period last year, the business earned $0.07 earnings per share. The company's revenue for the quarter was up 16.4% compared to the same quarter last year. On average, sell-side analysts forecast that Coupang, Inc. will post 0.17 EPS for the current year.

Insiders Place Their Bets

In other news, CFO Gaurav Anand sold 75,350 shares of the firm's 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 completion of the sale, the chief financial officer owned 2,016,940 shares in the company, valued at $56,050,762.60. This trade represents a 3.60% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP Pranam Kolari sold 11,653 shares of the firm's stock in a transaction that occurred on Monday, August 4th. The stock was sold at an average price of $29.14, for a total transaction of $339,568.42. Following the sale, the vice president 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. Over the last three months, insiders sold 988,983 shares of company stock worth $31,203,966. 12.78% of the stock is currently owned by insiders.

Institutional Trading of Coupang

Hedge funds and other institutional investors have recently made changes to their positions in the company. Sequoia Financial Advisors LLC increased its stake in shares of Coupang by 0.5% during the second quarter. Sequoia Financial Advisors LLC now owns 68,468 shares of the company's stock worth $2,051,000 after acquiring an additional 363 shares during the period. Inspirion Wealth Advisors LLC grew its position in Coupang by 0.3% during the second quarter. Inspirion Wealth Advisors LLC now owns 134,314 shares of the company's stock worth $4,024,000 after buying an additional 400 shares during the period. Thoroughbred Financial Services LLC grew its position in Coupang by 1.4% during the first quarter. Thoroughbred Financial Services LLC now owns 29,486 shares of the company's stock worth $646,000 after buying an additional 408 shares during the period. California State Teachers Retirement System grew its position in Coupang by 0.5% during the fourth quarter. California State Teachers Retirement System now owns 85,489 shares of the company's stock worth $1,879,000 after buying an additional 445 shares during the period. Finally, Baader Bank Aktiengesellschaft grew its position in Coupang by 4.3% during the second quarter. Baader Bank Aktiengesellschaft now owns 11,248 shares of the company's stock worth $323,000 after buying an additional 461 shares during the period. 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.