Coupang (NYSE:CPNG) Reaches New 52-Week Low - What's Next?

Key Points

• Coupang shares hit a new 52-week low of $13.35, trading below both their 50-day ($15.48) and 200-day ($17.15) moving averages.
• Analyst sentiment is mixed: five analysts rate the stock Buy, four Hold, and two Sell. The consensus rating is Hold, with an average price target of $24.06.
• Coupang beat quarterly EPS expectations, reporting a loss of $0.09 per share versus the projected $0.27 loss, while revenue rose 3.9% year over year to $8.86 billion but fell slightly short of estimates.

Coupang, Inc. (NYSE:CPNG - Get Free Report)'s stock price hit a new 52-week low on Friday. The stock traded as low as $13.35 and last traded at $13.6030, with a volume of 1874409 shares. The stock had previously closed at $13.80.

Wall Street Analyst Weigh In

A number of research analysts recently commented on CPNG shares. Mizuho set a $22.00 target price on shares of Coupang in a research report on Wednesday, August 5th. Barclays reaffirmed an "overweight" rating and set a $29.00 price objective on shares of Coupang in a report on Tuesday, July 7th. CLSA assumed coverage on Coupang in a report on Monday, June 15th. They issued an "outperform" rating and a $24.00 target price for the company. The Goldman Sachs Group set a $31.00 target price on Coupang in a research report on Thursday, July 9th. Finally, Weiss Ratings reaffirmed a "sell (d)" rating on shares of Coupang in a research report on Tuesday, August 4th. Five equities research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and two have given a Sell rating to the stock. According to MarketBeat, the stock currently has an average rating of "Hold" and an average target price of $24.06.

Coupang Stock Performance

The stock has a market cap of $24.44 billion, a PE ratio of -31.71 and a beta of 1.17. The stock has a fifty day moving average of $15.48 and a 200-day moving average of $17.15. The company has a quick ratio of 0.68, a current ratio of 0.87 and a debt-to-equity ratio of 0.21.

Coupang (NYSE:CPNG - Get Free Report) last posted its quarterly earnings data on Tuesday, August 4th. The company reported ($0.09) EPS for the quarter, beating the consensus estimate 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 during the quarter, compared to the consensus estimate of $8.92 billion. During the same period in the prior year, the business earned $0.02 EPS. The firm's revenue was up 3.9% compared to the same quarter last year. On average, equities analysts forecast that Coupang, Inc. will post -0.46 EPS for the current year.

Insider Activity at Coupang

In related news, insider Harold Rogers sold 192,110 shares of Coupang stock in a transaction on Monday, August 10th. The shares were sold at an average price of $16.18, for a total value of $3,108,339.80. Following the transaction, the insider directly owned 740,931 shares in the company, valued at $11,988,263.58. This trade represents a 20.59% decrease in their position. The transaction 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 the firm's stock in a transaction 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 sale, the chief accounting officer owned 181,915 shares of the company's stock, valued at $2,928,831.50. This trade represents a 2.94% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 12.83% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the company. Reflection Asset Management purchased a new stake in Coupang in the 4th quarter valued at approximately $28,000. Webster Bank N. A. raised its stake in shares of Coupang by 325.8% during the 1st quarter. Webster Bank N. A. now owns 1,699 shares of the company's stock worth $32,000 after buying an additional 1,300 shares in the last quarter. Osbon Capital Management LLC purchased a new position in shares of Coupang during the 4th quarter worth approximately $45,000. Main Street Group LTD acquired a new stake in shares of Coupang in the 1st quarter valued at approximately $40,000. Finally, Root Financial Partners LLC lifted its holdings in shares of Coupang by 68.5% in the 1st quarter. Root Financial Partners LLC now owns 2,265 shares of the company's stock valued at $43,000 after buying an additional 921 shares during the period. 83.72% of the stock is owned by hedge funds and other institutional investors.

Coupang Company Profile

Coupang, Inc is an e-commerce and technology company that operates primarily in South Korea and Taiwan. The company connects consumers with a broad selection of merchandise, including groceries, household goods, electronics, apparel, beauty products and other everyday items. Its services are supported by an integrated logistics network designed to provide fast delivery and a convenient online shopping experience.

Coupang's offerings include its Rocket Delivery and Rocket Fresh services, which provide rapid delivery of general merchandise and groceries, respectively.

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