Coupang (NYSE:CPNG) Price Target Lowered to $28.00 at Citigroup

Coupang (NYSE:CPNG) had its price objective reduced by research analysts at Citigroup from $31.00 to $28.00 in a research note issued on Wednesday,Benzinga reports. The brokerage currently has a “buy” rating on the stock. Citigroup’s price objective suggests a potential upside of 25.50% from the stock’s current price.

Separately, Sanford C. Bernstein upgraded shares of Coupang from an “underperform” rating to an “outperform” rating and set a $30.00 price objective for the company in a research report on Monday, October 7th. One analyst has rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Coupang presently has an average rating of “Moderate Buy” and an average target price of $27.56.

Coupang Price Performance

Coupang stock opened at $22.31 on Wednesday. The business’s fifty day moving average is $23.85 and its two-hundred day moving average is $23.24. The company has a debt-to-equity ratio of 0.28, a quick ratio of 0.86 and a current ratio of 1.13. The firm has a market cap of $40.13 billion, a P/E ratio of 39.14, a P/E/G ratio of 215.03 and a beta of 1.10. Coupang has a 52 week low of $13.51 and a 52 week high of $26.91.

Coupang (NYSE:CPNG) last issued its quarterly earnings data on Tuesday, November 5th. The company reported $0.06 EPS for the quarter, topping analysts’ consensus estimates of $0.01 by $0.05. Coupang had a net margin of 3.57% and a return on equity of 11.52%. The firm had revenue of $7.87 billion for the quarter, compared to analyst estimates of $7.76 billion. During the same quarter in the prior year, the firm earned $0.05 EPS. The company’s revenue was up 27.2% on a year-over-year basis. Equities research analysts forecast that Coupang will post 0.11 earnings per share for the current fiscal year.

Insider Buying and Selling at Coupang

In other news, CEO Bom Kim sold 15,000,000 shares of the stock in a transaction dated Monday, November 11th. The shares were sold at an average price of $22.97, for a total transaction of $344,550,000.00. Following the completion of the transaction, the chief executive officer now directly owns 2,000,000 shares in the company, valued at $45,940,000. This represents a 88.24 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Greenoaks Capital Partners Llc purchased 750,000 shares of the firm’s stock in a transaction on Friday, November 8th. The stock was bought at an average price of $24.01 per share, with a total value of $18,007,500.00. Following the completion of the purchase, the director now owns 52,038,723 shares of the company’s stock, valued at approximately $1,249,449,739.23. This represents a 1.46 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders own 13.60% of the company’s stock.

Institutional Investors Weigh In On Coupang

Several large investors have recently made changes to their positions in the stock. Van ECK Associates Corp boosted its stake in shares of Coupang by 63.1% during the 3rd quarter. Van ECK Associates Corp now owns 1,251 shares of the company’s stock worth $32,000 after acquiring an additional 484 shares during the period. Covestor Ltd grew its position in shares of Coupang by 10.4% in the third quarter. Covestor Ltd now owns 6,479 shares of the company’s stock valued at $159,000 after purchasing an additional 612 shares during the last quarter. Janus Henderson Group PLC increased its stake in shares of Coupang by 2.2% during the third quarter. Janus Henderson Group PLC now owns 34,598 shares of the company’s stock worth $850,000 after purchasing an additional 747 shares during the period. Advisory Resource Group lifted its holdings in Coupang by 1.9% during the 3rd quarter. Advisory Resource Group now owns 44,096 shares of the company’s stock worth $1,083,000 after purchasing an additional 823 shares during the last quarter. Finally, National Bank of Canada FI increased its position in Coupang by 15.4% during the 2nd quarter. National Bank of Canada FI now owns 6,687 shares of the company’s stock worth $141,000 after buying an additional 890 shares during the period. Institutional investors and hedge funds own 83.72% of the company’s stock.

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.