Coupang (NYSE:CPNG) Lifted to Buy at Citigroup

Coupang (NYSE:CPNG - Get Free Report) was upgraded by stock analysts at Citigroup from a "neutral" rating to a "buy" rating in a report issued on Monday, MarketBeat reports. The firm currently has a $26.00 price objective on the stock, up from their previous price objective of $19.00. Citigroup's price objective would suggest a potential upside of 19.87% from the stock's previous close.

Other equities research analysts have also recently issued research reports about the stock. Barclays upped 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. UBS Group cut shares of Coupang from a "buy" rating to a "neutral" rating and cut their price target for the company from $26.00 to $18.50 in a report on Wednesday, December 20th. TheStreet upgraded shares of Coupang from a "d+" rating to a "c-" rating in a report on Tuesday, March 5th. Finally, Deutsche Bank Aktiengesellschaft upgraded shares of Coupang from a "hold" rating to a "buy" rating and increased their price target for the company from $18.50 to $21.00 in a report on Thursday, February 29th. One analyst has rated the stock with a hold rating and three have assigned a buy rating to the company's stock. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $22.42.

Coupang Trading Up 2.1 %

Shares of NYSE CPNG traded up $0.44 during midday trading on Monday, hitting $21.69. 28,990,988 shares of the company traded hands, compared to its average volume of 13,136,621. Coupang has a 12-month low of $13.51 and a 12-month high of $22.49. 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 stock has a 50-day moving average price of $17.43 and a 200 day moving average price of $16.61. The firm has a market cap of $38.90 billion, a P/E ratio of 28.33 and a beta of 1.32.

Coupang (NYSE:CPNG - Get Free Report) last announced its quarterly earnings results on Tuesday, February 27th. The company reported $0.08 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.05 by $0.03. The company had revenue of $6.56 billion for the quarter, compared to analysts' expectations of $6.40 billion. Coupang had a net margin of 5.57% and a return on equity of 15.04%. Coupang's quarterly revenue was up 23.2% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.06 earnings per share. As a group, analysts expect that Coupang will post 0.29 earnings per share for the current year.

Insider Activity at Coupang

In related news, Director Neil Mehta sold 1,600,000 shares of the stock in a transaction that occurred on Thursday, March 14th. The shares were sold at an average price of $18.68, for a total transaction of $29,888,000.00. Following the transaction, the director now owns 48,006,135 shares in the company, valued at $896,754,601.80. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other Coupang news, major shareholder Svf Investments (Uk) Ltd sold 31,614,154 shares of the stock in a transaction that occurred on 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 transaction, the insider now directly owns 364,542,259 shares in the company, valued at $6,929,948,343.59. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Neil Mehta sold 1,600,000 shares of the firm's stock in a transaction on Thursday, March 14th. The shares were sold at an average price of $18.68, for a total transaction of $29,888,000.00. Following the sale, the director now owns 48,006,135 shares in the company, valued at $896,754,601.80. The disclosure for this sale can be found here. Insiders have sold a total of 33,355,590 shares of company stock worth $633,443,979 over the last quarter. Company insiders own 14.90% of the company's stock.

Institutional Trading of Coupang

Institutional investors and hedge funds have recently modified their holdings of the company. Baillie Gifford & Co. grew its stake in Coupang by 21.6% during the fourth quarter. Baillie Gifford & Co. now owns 145,524,128 shares of the company's stock valued at $2,356,036,000 after acquiring an additional 25,843,034 shares in the last quarter. Norges Bank purchased a new position in shares of Coupang in the 4th quarter worth $250,714,000. Viking Global Investors LP grew its stake in shares of Coupang by 255.2% in the 4th quarter. Viking Global Investors LP now owns 15,494,869 shares of the company's stock worth $250,862,000 after buying an additional 11,132,325 shares in the last quarter. Pacer Advisors Inc. grew its stake in shares of Coupang by 104,032.2% in the 4th quarter. Pacer Advisors Inc. now owns 10,944,299 shares of the company's stock worth $177,188,000 after buying an additional 10,933,789 shares in the last quarter. Finally, State Street Corp grew its stake in shares of Coupang by 800.8% in the 2nd quarter. State Street Corp now owns 11,856,947 shares of the company's stock worth $206,311,000 after buying an additional 10,540,635 shares in the last quarter. 83.72% of the stock is currently owned by 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.