Brokerages Set Coupang, Inc. (NYSE:CPNG) Price Target at $26.02

Coupang, Inc. (NYSE:CPNG) has been given a consensus rating of “Hold” by the twelve brokerages that are currently covering the company, MarketBeat Ratings reports. Two investment analysts have rated the stock with a sell recommendation, five have given a hold recommendation and five have given a buy recommendation to the company. The average 1 year price target among brokerages that have issued a report on the stock in the last year is $26.0167.

CPNG has been the topic of a number of recent analyst reports. CLSA began coverage on shares of Coupang in a report on Monday, June 15th. They set an “outperform” rating and a $24.00 price target on the stock. Citigroup cut shares of Coupang from a “buy” rating to a “neutral” rating and cut their price objective for the company from $23.00 to $22.20 in a report on Wednesday, May 6th. Deutsche Bank Aktiengesellschaft downgraded shares of Coupang from a “buy” rating to a “hold” rating and set a $23.00 price objective for the company. in a research report on Wednesday, May 6th. The Goldman Sachs Group set a $31.00 target price on shares of Coupang in a research note on Thursday, July 9th. Finally, Barclays restated an “overweight” rating and set a $29.00 target price on shares of Coupang in a research report on Tuesday, July 7th.

Coupang Trading Down 3.2%

Coupang stock opened at $16.86 on Friday. The company has a current ratio of 0.97, a quick ratio of 0.76 and a debt-to-equity ratio of 0.16. Coupang has a 12 month low of $14.92 and a 12 month high of $34.08. The stock’s 50 day simple moving average is $17.02 and its two-hundred day simple moving average is $18.87. The firm has a market cap of $30.27 billion, a PE ratio of -187.35 and a beta of 1.11.

Coupang (NYSE:CPNG) last issued its quarterly earnings data on Tuesday, May 5th. The company reported ($0.15) EPS for the quarter, missing analysts’ consensus estimates of ($0.09) by ($0.06). The firm had revenue of $8.50 billion for the quarter, compared to analyst estimates of $8.48 billion. Coupang had a negative return on equity of 3.67% and a negative net margin of 0.47%.Coupang’s revenue for the quarter was up 7.5% compared to the same quarter last year. During the same period in the previous year, the business earned $0.06 EPS. Analysts anticipate that Coupang will post -0.33 earnings per share for the current year.

Institutional Trading of Coupang

Institutional investors have recently bought and sold shares of the business. Norges Bank purchased a new stake in shares of Coupang in the fourth quarter valued at approximately $498,333,000. Assenagon Asset Management S.A. raised its stake in shares of Coupang by 1,394.1% during the 1st quarter. Assenagon Asset Management S.A. now owns 17,117,583 shares of the company’s stock worth $323,180,000 after buying an additional 15,971,942 shares during the period. Tiger Global Management LLC lifted its position in shares of Coupang by 65.9% during the 4th quarter. Tiger Global Management LLC now owns 26,267,259 shares of the company’s stock valued at $619,645,000 after buying an additional 10,429,680 shares in the last quarter. Capital International Investors lifted its position in shares of Coupang by 20.4% during the 4th quarter. Capital International Investors now owns 41,131,036 shares of the company’s stock valued at $970,340,000 after buying an additional 6,977,942 shares in the last quarter. Finally, Dragoneer Investment Group LLC lifted its position in shares of Coupang by 47.1% during the 4th quarter. Dragoneer Investment Group LLC now owns 21,576,556 shares of the company’s stock valued at $508,991,000 after buying an additional 6,910,865 shares in the last quarter. 83.72% of the stock is owned by institutional investors and hedge funds.

About Coupang

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.