Coupang (NYSE:CPNG) Rating Increased to Buy at UBS Group

UBS Group upgraded shares of Coupang (NYSE:CPNG - Free Report) from a neutral rating to a buy rating in a report released on Thursday, Marketbeat.com reports. UBS Group currently has $26.00 price target on the stock, up from their prior price target of $18.50.

CPNG has been the topic of several other reports. TheStreet raised shares of Coupang from a d+ rating to a c- rating in a research note on Tuesday, March 5th. Deutsche Bank Aktiengesellschaft upgraded shares of Coupang from a hold rating to a buy rating and boosted their price target for the stock from $18.50 to $21.00 in a research note on Thursday, February 29th. Citigroup lifted their price objective on Coupang from $26.00 to $28.00 and gave the company a buy rating in a report on Wednesday, May 8th. Bank of America initiated coverage on Coupang in a research report on Friday, May 3rd. They set a buy rating and a $30.00 target price on the stock. Finally, Barclays raised their price target on Coupang from $25.00 to $32.00 and gave the company an overweight rating in a report on Thursday, May 9th. One analyst has 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 has an average rating of Moderate Buy and an average price target of $26.67.

Coupang Stock Performance

Shares of NYSE:CPNG traded up $0.34 on Thursday, reaching $22.87. The company's stock had a trading volume of 12,997,335 shares, compared to its average volume of 13,212,231. Coupang has a 52-week low of $13.51 and a 52-week high of $23.77. The stock has a market capitalization of $41.00 billion, a P/E ratio of 32.66, a PEG ratio of 39.85 and a beta of 1.13. The stock's 50-day moving average is $20.41 and its two-hundred day moving average is $17.48. The company has a debt-to-equity ratio of 0.67, a current ratio of 1.15 and a quick ratio of 0.89.

Coupang (NYSE:CPNG - Get Free Report) last posted its quarterly earnings data on Tuesday, May 7th. The company reported $0.05 EPS for the quarter, missing the consensus estimate of $0.06 by ($0.01). The company had revenue of $7.11 billion for the quarter, compared to analysts' expectations of $6.95 billion. Coupang had a net margin of 4.96% and a return on equity of 13.59%. The firm's revenue was up 22.6% on a year-over-year basis. During the same period in the prior year, the company earned $0.05 earnings per share. As a group, sell-side analysts forecast that Coupang will post 0.34 EPS for the current year.

Insider Activity 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 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 sale, 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 can be accessed through the SEC website. 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 sale, the insider now owns 364,542,259 shares of the company's stock, valued at $6,929,948,343.59. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CAO Jonathan D. Lee sold 5,000 shares of the firm's stock in a transaction that occurred on Thursday, May 9th. The stock was sold at an average price of $21.45, for a total transaction of $107,250.00. Following the transaction, the chief accounting officer now directly owns 120,835 shares of the company's stock, valued at $2,591,910.75. The disclosure for this sale can be found here. Insiders sold 33,360,282 shares of company stock valued at $633,564,280 in the last ninety days. Corporate insiders own 14.90% 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. Ameriprise Financial Inc. lifted its holdings in Coupang by 25.3% in the 3rd quarter. Ameriprise Financial Inc. now owns 3,054,223 shares of the company's stock valued at $51,922,000 after purchasing an additional 616,210 shares in the last quarter. Twenty Acre Capital LP lifted its stake in shares of Coupang by 23.5% during the fourth quarter. Twenty Acre Capital LP now owns 505,914 shares of the company's stock valued at $8,191,000 after buying an additional 96,300 shares during the period. M&T Bank Corp acquired a new stake in Coupang during the third quarter worth approximately $2,415,000. SG Americas Securities LLC grew its stake in Coupang by 1,509.1% in the 4th quarter. SG Americas Securities LLC now owns 163,159 shares of the company's stock worth $2,642,000 after acquiring an additional 153,019 shares during the period. Finally, Sapient Capital LLC acquired a new position in Coupang in the 4th quarter valued at $2,486,000. 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.