Weiss Ratings Reaffirms "Hold (C)" Rating for Coupang (NYSE:CPNG)

Key Points

• Weiss Ratings has reaffirmed a "Hold (C)" rating for Coupang (NYSE: CPNG) in a recent research note, despite mixed opinions from other analysts.
• Nomura has upgraded Coupang from "neutral" to "buy" with a target price of $35, while Zacks lowered it to a "strong sell," resulting in a current average rating of "Moderate Buy."
• Coupang reported $0.02 earnings per share for the last quarter, missing estimates, although its revenue increased by 16.4% year-over-year to $8.52 billion.

Coupang (NYSE:CPNG - Get Free Report)'s stock had its "hold (c)" rating reissued by equities research analysts at Weiss Ratings in a research note issued to investors on Wednesday,Weiss Ratings reports.

A number of other equities research analysts have also recently issued reports on CPNG. Nomura raised shares of Coupang from a "neutral" rating to a "buy" rating and set a $35.00 target price on the stock in a report on Wednesday, August 6th. Zacks Research lowered shares of Coupang from a "hold" rating to a "strong sell" rating in a research report on Monday. Morgan Stanley increased their price target on shares of Coupang from $32.00 to $35.00 and gave the stock an "overweight" rating in a research report on Wednesday, August 20th. Nomura Securities upgraded shares of Coupang to a "strong-buy" rating in a research report on Wednesday, August 6th. Finally, Arete initiated coverage on shares of Coupang in a research note on Thursday, September 18th. They issued a "buy" rating and a $40.00 price objective for the company. One equities research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $33.50.

Coupang Price Performance

Shares of NYSE CPNG traded down $0.19 during mid-day trading on Wednesday, hitting $32.18. 3,747,423 shares of the stock were exchanged, compared to its average volume of 15,475,064. The company has a debt-to-equity ratio of 0.18, a quick ratio of 0.84 and a current ratio of 1.09. The company has a market cap of $58.67 billion, a P/E ratio of 160.91 and a beta of 1.18. The stock's fifty day simple moving average is $30.38 and its two-hundred day simple moving average is $27.82. Coupang has a twelve month low of $19.02 and a twelve month high of $34.08.

Coupang (NYSE:CPNG - Get Free Report) last issued its quarterly earnings results on Tuesday, August 5th. The company reported $0.02 earnings per share for the quarter, missing analysts' consensus estimates of $0.07 by ($0.05). Coupang had a net margin of 1.13% and a return on equity of 7.47%. The company had revenue of $8.52 billion during the quarter, compared to analyst estimates of $8.34 billion. During the same period in the prior year, the business earned $0.07 EPS. The business's revenue for the quarter was up 16.4% on a year-over-year basis. As a group, analysts forecast that Coupang will post 0.17 EPS for the current fiscal year.

Insider Transactions at Coupang

In other news, VP Pranam Kolari sold 11,653 shares of the stock in a transaction on Monday, August 4th. The shares were sold at an average price of $29.14, for a total value of $339,568.42. Following the transaction, the vice president owned 158,676 shares of the company's stock, valued at $4,623,818.64. This represents a 6.84% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CFO Gaurav Anand sold 75,350 shares of the company's stock in a transaction on Monday, August 11th. The shares were sold at an average price of $27.79, for a total transaction of $2,093,976.50. Following the completion of the sale, the chief financial officer directly owned 2,016,940 shares of the company's stock, valued at $56,050,762.60. This trade represents a 3.60% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 988,983 shares of company stock valued at $31,203,966. Corporate insiders own 12.78% of the company's stock.

Institutional Investors Weigh In On Coupang

Institutional investors and hedge funds have recently modified their holdings of the stock. Dodge & Cox increased its stake in Coupang by 101.6% during the 1st quarter. Dodge & Cox now owns 40,784,920 shares of the company's stock valued at $894,413,000 after purchasing an additional 20,555,600 shares in the last quarter. Norges Bank purchased a new position in Coupang during the second quarter valued at approximately $587,186,000. GQG Partners LLC bought a new stake in shares of Coupang during the first quarter valued at approximately $168,127,000. Massachusetts Financial Services Co. MA increased its position in Coupang by 436.6% in the first quarter. Massachusetts Financial Services Co. MA now owns 8,686,580 shares of the company's stock worth $190,497,000 after purchasing an additional 7,067,830 shares during the last quarter. Finally, Eminence Capital LP purchased a new position in Coupang during the second quarter worth $204,840,000. 83.72% of the stock is owned by hedge funds and other institutional investors.

About Coupang

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.

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