Coupang (NYSE:CPNG) Price Target Raised to $36.00 at Barclays

Coupang (NYSE:CPNG) had its price target upped by stock analysts at Barclays from $35.00 to $36.00 in a research note issued on Thursday,Benzinga reports. The brokerage presently has an “overweight” rating on the stock. Barclays‘s price target indicates a potential upside of 38.46% from the company’s current price.

CPNG has been the topic of several other reports. Citigroup reduced their price target on Coupang from $31.00 to $28.00 and set a “buy” rating on the stock in a report on Wednesday, January 8th. Mizuho upgraded Coupang to a “hold” rating in a research note on Friday, April 18th. Finally, Deutsche Bank Aktiengesellschaft raised shares of Coupang from a “hold” rating to a “buy” rating and set a $28.50 target price for the company in a research note on Wednesday, February 26th. One analyst has rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat, Coupang has an average rating of “Moderate Buy” and an average target price of $29.19.

Coupang Stock Up 1.4 %

Shares of CPNG opened at $26.00 on Thursday. The company has a quick ratio of 0.86, a current ratio of 1.13 and a debt-to-equity ratio of 0.28. The business has a fifty day moving average of $22.62 and a 200 day moving average of $23.43. The company has a market cap of $46.94 billion, a PE ratio of 45.61, a P/E/G ratio of 52.20 and a beta of 1.08. Coupang has a 52-week low of $18.16 and a 52-week high of $27.03.

Coupang (NYSE:CPNG) last released its quarterly earnings results on Tuesday, May 6th. The company reported $0.06 EPS for the quarter, missing analysts’ consensus estimates of $0.07 by ($0.01). Coupang had a return on equity of 11.52% and a net margin of 3.57%. The firm had revenue of $7.91 billion for the quarter, compared to analysts’ expectations of $8.02 billion. The firm’s revenue was up 11.2% on a year-over-year basis. On average, sell-side analysts expect that Coupang will post 0.17 EPS for the current year.

Insider Activity

In other news, VP Pranam Kolari sold 9,347 shares of the business’s stock in a transaction on Friday, May 2nd. The stock was sold at an average price of $23.85, for a total value of $222,925.95. Following the completion of the transaction, the vice president now directly owns 177,106 shares of the company’s stock, valued at approximately $4,223,978.10. The trade was a 5.01 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Benjamin Sun sold 250,000 shares of the firm’s stock in a transaction dated Monday, March 17th. The shares were sold at an average price of $23.43, for a total value of $5,857,500.00. Following the sale, the director now directly owns 1,719,421 shares in the company, valued at approximately $40,286,034.03. The trade was a 12.69 % decrease in their position. The disclosure for this sale can be found here. Insiders own 13.60% of the company’s stock.

Institutional Trading of Coupang

Several hedge funds have recently modified their holdings of CPNG. Thoroughbred Financial Services LLC grew its position in shares of Coupang by 1.4% in the 1st quarter. Thoroughbred Financial Services LLC now owns 29,486 shares of the company’s stock worth $646,000 after buying an additional 408 shares during the last quarter. California State Teachers Retirement System boosted its stake in Coupang by 0.5% in the fourth quarter. California State Teachers Retirement System now owns 85,489 shares of the company’s stock valued at $1,879,000 after acquiring an additional 445 shares in the last quarter. Pacer Advisors Inc. increased its position in shares of Coupang by 4.1% during the fourth quarter. Pacer Advisors Inc. now owns 11,502 shares of the company’s stock worth $253,000 after purchasing an additional 452 shares in the last quarter. Angeles Wealth Management LLC increased its position in shares of Coupang by 0.8% during the fourth quarter. Angeles Wealth Management LLC now owns 55,074 shares of the company’s stock worth $1,211,000 after purchasing an additional 459 shares in the last quarter. Finally, Virtus ETF Advisers LLC lifted its holdings in shares of Coupang by 1.1% during the 4th quarter. Virtus ETF Advisers LLC now owns 44,341 shares of the company’s stock valued at $975,000 after purchasing an additional 466 shares during the last quarter. 83.72% of the stock is 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.