Coupang (NYSE:CPNG) PT Raised to $28.00

Coupang (NYSE:CPNG - Get Free Report) had its target price upped by Citigroup from $26.00 to $28.00 in a report released on Wednesday, Benzinga reports. The firm presently has a "buy" rating on the stock. Citigroup's target price points to a potential upside of 30.41% from the stock's previous close.

A number of other equities analysts also recently weighed in on the stock. Barclays boosted their target price on shares of Coupang from $24.00 to $25.00 and gave the stock an "overweight" rating in a research note on Thursday, February 29th. Bank of America initiated coverage on Coupang in a report on Friday, May 3rd. They set a "buy" rating and a $30.00 price objective on the stock. Mizuho lifted their target price on Coupang from $20.00 to $23.00 and gave the company a "neutral" rating in a research note on Wednesday. Deutsche Bank Aktiengesellschaft raised Coupang from a "hold" rating to a "buy" rating and upped their price target for the company from $18.50 to $21.00 in a research note on Thursday, February 29th. Finally, TheStreet upgraded Coupang from a "d+" rating to a "c-" rating in a research report on Tuesday, March 5th. Two analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $24.25.

Coupang Price Performance

Shares of CPNG stock traded down $2.18 during trading hours on Wednesday, hitting $21.47. The company had a trading volume of 35,062,975 shares, compared to its average volume of 13,416,854. Coupang has a 12 month low of $13.51 and a 12 month high of $23.77. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.90 and a current ratio of 1.14. The firm's fifty day moving average is $19.91 and its 200 day moving average is $17.24. The firm has a market capitalization of $38.50 billion, a price-to-earnings ratio of 28.71, a PEG ratio of 19.21 and a beta of 1.13.

Coupang (NYSE:CPNG - Get Free Report) last issued its earnings results on Tuesday, May 7th. The company reported $0.05 EPS for the quarter, missing the consensus estimate of $0.06 by ($0.01). The firm had revenue of $7.11 billion during the quarter, compared to analyst estimates of $6.95 billion. Coupang had a net margin of 5.57% and a return on equity of 15.04%. The firm's revenue for the quarter was up 22.6% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.05 EPS. On average, sell-side analysts predict that Coupang will post 0.35 EPS for the current fiscal year.

Insider Buying and Selling

In other news, major shareholder Svf Investments (Uk) Ltd sold 31,614,154 shares of the company's stock in a transaction on Tuesday, March 12th. The shares were sold at an average price of $19.01, for a total transaction of $600,985,067.54. Following the completion of the transaction, the insider now directly owns 364,542,259 shares in the company, valued at $6,929,948,343.59. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other news, major shareholder Svf Investments (Uk) Ltd sold 31,614,154 shares of the company's stock in a transaction that occurred on Tuesday, March 12th. The stock was sold at an average price of $19.01, for a total value of $600,985,067.54. Following the completion of the transaction, the insider now owns 364,542,259 shares of the company's stock, valued at $6,929,948,343.59. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Pranam Kolari sold 2,048 shares of the firm's stock in a transaction that occurred on Thursday, May 2nd. The shares were sold at an average price of $22.34, for a total transaction of $45,752.32. Following the completion of the transaction, the insider now owns 187,951 shares of the company's stock, valued at approximately $4,198,825.34. The disclosure for this sale can be found here. Insiders sold a total of 33,355,282 shares of company stock worth $633,457,030 in the last three months. 14.90% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Coupang

Hedge funds have recently made changes to their positions in the stock. Motley Fool Asset Management LLC raised its stake in Coupang by 7.9% during the first quarter. Motley Fool Asset Management LLC now owns 52,927 shares of the company's stock worth $942,000 after buying an additional 3,875 shares during the last quarter. Bleakley Financial Group LLC grew its holdings in Coupang by 17.9% during the 1st quarter. Bleakley Financial Group LLC now owns 17,880 shares of the company's stock worth $318,000 after acquiring an additional 2,710 shares during the period. US Bancorp DE raised its position in shares of Coupang by 1,379.0% in the 1st quarter. US Bancorp DE now owns 209,951 shares of the company's stock worth $3,735,000 after acquiring an additional 195,756 shares in the last quarter. Russell Investments Group Ltd. lifted its stake in shares of Coupang by 9.1% in the 1st quarter. Russell Investments Group Ltd. now owns 2,249,822 shares of the company's stock valued at $40,008,000 after purchasing an additional 188,167 shares during the period. Finally, Donoghue Forlines LLC bought a new stake in shares of Coupang during the 1st quarter valued at about $1,519,000. 83.72% of the stock is currently owned by institutional investors.

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.