Coupang (NYSE:CPNG) Hits New 12-Month Low - Here's Why

Key Points

• Coupang shares hit a new 52-week low, trading as low as $14.88 and falling 2.4%, below both the 50-day and 200-day moving averages.
• Analysts have a mixed outlook, with six Buy, four Hold and two Sell ratings; the consensus rating is Hold, while the average price target of $25.39 implies substantial upside.
• Coupang exceeded quarterly EPS expectations but slightly missed revenue forecasts, remained unprofitable, and reported insider share sales totaling more than $3.2 million.

Shares of Coupang, Inc. (NYSE:CPNG - Get Free Report) reached a new 52-week low during mid-day trading on Tuesday . The company traded as low as $14.88 and last traded at $15.02, with a volume of 1481044 shares trading hands. The stock had previously closed at $15.29.

Analysts Set New Price Targets

CPNG has been the topic of a number of analyst reports. The Goldman Sachs Group set a $31.00 price objective on shares of Coupang in a report on Thursday, July 9th. Weiss Ratings restated a "sell (d)" rating on shares of Coupang in a research note on Tuesday, August 4th. Mizuho set a $22.00 price objective on Coupang in a research report on Wednesday, August 5th. Barclays restated an "overweight" rating and issued a $29.00 target price on shares of Coupang in a research report on Tuesday, July 7th. Finally, CLSA started coverage on Coupang in a research report on Monday, June 15th. They set an "outperform" rating and a $24.00 price target for the company. Six investment analysts have rated the stock with a Buy rating, four have assigned a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat.com, the company currently has an average rating of "Hold" and an average price target of $25.39.

Coupang Stock Down 2.4%

The company has a debt-to-equity ratio of 0.21, a quick ratio of 0.68 and a current ratio of 0.87. The company has a market cap of $26.84 billion, a P/E ratio of -34.69 and a beta of 1.15. The stock has a 50 day moving average price of $16.65 and a 200 day moving average price of $17.71.

Coupang (NYSE:CPNG - Get Free Report) last released its earnings results on Tuesday, August 4th. The company reported ($0.09) earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.27) by $0.18. Coupang had a negative return on equity of 8.77% and a negative net margin of 2.16%.The firm had revenue of $8.86 billion for the quarter, compared to analyst estimates of $8.92 billion. During the same period in the previous year, the company earned $0.02 earnings per share. Coupang's revenue was up 3.9% compared to the same quarter last year. Research analysts expect that Coupang, Inc. will post -0.46 earnings per share for the current fiscal year.

Insider Activity at Coupang

In related news, insider Harold Rogers sold 192,110 shares of the firm's stock in a transaction that occurred on Monday, August 10th. The shares were sold at an average price of $16.18, for a total transaction of $3,108,339.80. Following the completion of the sale, the insider directly owned 740,931 shares in the company, valued at approximately $11,988,263.58. This trade represents a 20.59% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CAO Jonathan D. Lee sold 5,519 shares of Coupang stock in a transaction that occurred on Monday, August 10th. The stock was sold at an average price of $16.10, for a total transaction of $88,855.90. Following the completion of the transaction, the chief accounting officer owned 181,915 shares in the company, valued at approximately $2,928,831.50. This trade represents a 2.94% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 12.83% of the company's stock.

Institutional Investors Weigh In On Coupang

Institutional investors and hedge funds have recently modified their holdings of the stock. Nellore Capital Management LLC boosted its position in shares of Coupang by 12.6% in the 2nd quarter. Nellore Capital Management LLC now owns 3,760,975 shares of the company's stock valued at $65,328,000 after purchasing an additional 420,000 shares during the period. Ethic Inc. boosted its holdings in shares of Coupang by 383.2% in the fourth quarter. Ethic Inc. now owns 126,154 shares of the company's stock worth $2,976,000 after buying an additional 100,047 shares during the period. Geode Capital Management LLC boosted its holdings in shares of Coupang by 7.5% in the fourth quarter. Geode Capital Management LLC now owns 24,327,724 shares of the company's stock worth $574,068,000 after buying an additional 1,689,293 shares during the period. Handelsbanken Fonder AB increased its position in shares of Coupang by 10.2% in the second quarter. Handelsbanken Fonder AB now owns 702,968 shares of the company's stock worth $12,211,000 after acquiring an additional 64,967 shares in the last quarter. Finally, Ashoka WhiteOak Capital Pte Ltd raised its holdings in shares of Coupang by 404.1% during the fourth quarter. Ashoka WhiteOak Capital Pte Ltd now owns 314,383 shares of the company's stock valued at $7,586,000 after acquiring an additional 252,020 shares during the period. Institutional investors and hedge funds own 83.72% of the company's stock.

Coupang Company Profile

Coupang, listed on the New York Stock Exchange under the ticker CPNG, is a South Korean e-commerce company headquartered in Seoul. Founded in 2010 by Bom Kim, the company grew rapidly by combining an online marketplace with a large direct-retail business model. Coupang completed a primary listing in the United States in 2021, and it has become one of South Korea's leading online retailers by focusing on convenience, speed and a wide product assortment across consumer categories.

The company operates a vertically integrated e-commerce platform that includes a customer-facing marketplace and an extensive logistics and fulfillment network.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.