Coupang (NYSE:CPNG) Research Coverage Started at Bank of America

Bank of America started coverage on shares of Coupang (NYSE:CPNG - Free Report) in a research report released on Friday, StockNewsAPI reports. The firm issued a buy rating and a $30.00 target price on the stock.

A number of other equities analysts also recently commented on CPNG. Deutsche Bank Aktiengesellschaft upgraded Coupang from a hold rating to a buy rating and lifted their price target for the stock from $18.50 to $21.00 in a research note on Thursday, February 29th. TheStreet raised Coupang from a d+ rating to a c- rating in a research report on Tuesday, March 5th. Barclays lifted their price objective on shares of Coupang from $24.00 to $25.00 and gave the stock an overweight rating in a report on Thursday, February 29th. Finally, Citigroup raised shares of Coupang from a neutral rating to a buy rating and increased their target price for the stock from $19.00 to $26.00 in a report on Monday, April 15th. One equities research analyst has rated the stock with a hold rating and four have given a buy rating to the company. Based on data from MarketBeat, Coupang currently has a consensus rating of Moderate Buy and a consensus price target of $23.75.

Coupang Stock Up 2.2 %

NYSE CPNG traded up $0.50 during mid-day trading on Friday, reaching $23.01. 11,690,662 shares of the company's stock traded hands, compared to its average volume of 13,121,328. The company has a current ratio of 1.14, a quick ratio of 0.90 and a debt-to-equity ratio of 0.13. Coupang has a 1-year low of $13.51 and a 1-year high of $23.40. The company has a fifty day simple moving average of $19.52 and a 200-day simple moving average of $17.14. The company has a market cap of $41.26 billion, a price-to-earnings ratio of 30.64 and a beta of 1.13.

Coupang (NYSE:CPNG - Get Free Report) last released its quarterly earnings results on Tuesday, February 27th. The company reported $0.08 earnings per share for the quarter, topping analysts' consensus estimates of $0.05 by $0.03. The business had revenue of $6.56 billion during the quarter, compared to the consensus estimate of $6.40 billion. Coupang had a net margin of 5.57% and a return on equity of 15.04%. The business's quarterly revenue was up 23.2% compared to the same quarter last year. During the same quarter last year, the company earned $0.06 earnings per share. As a group, equities research analysts expect that Coupang will post 0.34 EPS for the current year.

Insider Transactions at Coupang

In other Coupang news, major shareholder Svf Investments (Uk) Ltd sold 31,614,154 shares of the company's stock in a transaction dated Tuesday, March 12th. The shares were sold at an average price of $19.01, for a total value of $600,985,067.54. Following the completion of the sale, the insider now directly owns 364,542,259 shares of the company's stock, valued at approximately $6,929,948,343.59. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other Coupang 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 stock was sold at an average price of $19.01, for a total value of $600,985,067.54. Following 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 filing with the Securities & Exchange Commission, which is available through this link. Also, insider Pranam Kolari sold 2,048 shares of the firm's stock in a transaction on Thursday, May 2nd. The stock was sold at an average price of $22.34, for a total value of $45,752.32. Following the sale, the insider now directly owns 187,951 shares of the company's stock, valued at $4,198,825.34. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 33,355,282 shares of company stock valued at $633,457,030. Corporate insiders own 14.90% of the company's stock.

Institutional Trading of Coupang

A number of hedge funds have recently bought and sold shares of the company. Simplicity Solutions LLC grew its holdings in shares of Coupang by 23.5% during the third quarter. Simplicity Solutions LLC now owns 15,420 shares of the company's stock valued at $262,000 after buying an additional 2,938 shares in the last quarter. Xponance Inc. lifted its position in shares of Coupang by 1.7% in the third quarter. Xponance Inc. now owns 154,938 shares of the company's stock worth $2,634,000 after purchasing an additional 2,566 shares in the last quarter. Bank of New York Mellon Corp boosted its holdings in shares of Coupang by 3.3% during the third quarter. Bank of New York Mellon Corp now owns 2,632,070 shares of the company's stock worth $44,745,000 after purchasing an additional 84,353 shares during the period. Mackenzie Financial Corp purchased a new position in Coupang during the third quarter valued at approximately $1,590,000. Finally, TD Asset Management Inc increased its stake in Coupang by 3.0% in the 3rd quarter. TD Asset Management Inc now owns 402,380 shares of the company's stock valued at $6,840,000 after buying an additional 11,874 shares during the period. 83.72% of the stock is 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.