Coupang (NYSE:CPNG) Stock Rating Upgraded by Citigroup

Citigroup upgraded shares of Coupang (NYSE:CPNG) from a neutral rating to a buy rating in a research report sent to investors on Monday, Marketbeat Ratings reports. They currently have $26.00 price target on the stock, up from their previous price target of $19.00.

Several other research analysts also recently weighed in on CPNG. Barclays upped their price objective on shares of Coupang from $24.00 to $25.00 and gave the stock an overweight rating in a report on Thursday, February 29th. Deutsche Bank Aktiengesellschaft upgraded shares of Coupang from a hold rating to a buy rating and increased their price target for the company from $18.50 to $21.00 in a research report on Thursday, February 29th. UBS Group lowered shares of Coupang from a buy rating to a neutral rating and cut their target price for the stock from $26.00 to $18.50 in a research report on Wednesday, December 20th. Finally, TheStreet upgraded shares of Coupang from a d+ rating to a c- rating in a research report on Tuesday, March 5th. One equities research analyst has rated the stock with a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat.com, Coupang presently has an average rating of Moderate Buy and an average price target of $22.42.

Coupang Stock Down 1.4 %

Coupang stock opened at $22.31 on Monday. The company has a quick ratio of 0.90, a current ratio of 1.14 and a debt-to-equity ratio of 0.13. Coupang has a 12-month low of $13.51 and a 12-month high of $22.89. The firm’s fifty day moving average is $18.08 and its 200 day moving average is $16.77. The company has a market capitalization of $40.01 billion, a PE ratio of 29.75 and a beta of 1.32.

Coupang (NYSE:CPNG) last released its earnings results on Tuesday, February 27th. The company reported $0.08 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.05 by $0.03. Coupang had a net margin of 5.57% and a return on equity of 15.04%. The company had revenue of $6.56 billion for the quarter, compared to the consensus estimate of $6.40 billion. During the same quarter in the previous year, the company earned $0.06 EPS. Coupang’s quarterly revenue was up 23.2% compared to the same quarter last year. As a group, sell-side analysts predict that Coupang will post 0.32 EPS for the current fiscal year.

Insider Activity at Coupang

In other Coupang news, insider Pranam Kolari sold 2,356 shares of Coupang stock in a transaction that occurred on Friday, February 2nd. The shares were sold at an average price of $13.88, for a total transaction of $32,701.28. Following the transaction, the insider now directly owns 182,844 shares of the company’s stock, valued at $2,537,874.72. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, insider Pranam Kolari sold 2,356 shares of the firm’s stock in a transaction that occurred on Friday, February 2nd. The shares were sold at an average price of $13.88, for a total value of $32,701.28. Following the transaction, the insider now owns 182,844 shares in the company, valued at $2,537,874.72. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, major shareholder Svf Investments (Uk) Ltd sold 31,614,154 shares of the firm’s stock in a transaction that occurred on Tuesday, March 12th. The stock was sold at an average price of $19.01, for a total transaction of $600,985,067.54. Following the completion of the transaction, the insider now owns 364,542,259 shares in the company, valued at approximately $6,929,948,343.59. The disclosure for this sale can be found here. Insiders have sold 33,355,590 shares of company stock valued at $633,443,979 over the last three months. 14.90% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in CPNG. Raymond James & Associates boosted its holdings in Coupang by 64.0% in the first quarter. Raymond James & Associates now owns 188,859 shares of the company’s stock valued at $3,339,000 after acquiring an additional 73,703 shares in the last quarter. Bank of New York Mellon Corp boosted its holdings in Coupang by 140.7% in the first quarter. Bank of New York Mellon Corp now owns 1,035,866 shares of the company’s stock valued at $18,315,000 after acquiring an additional 605,499 shares in the last quarter. Cambridge Investment Research Advisors Inc. boosted its holdings in Coupang by 111.0% in the first quarter. Cambridge Investment Research Advisors Inc. now owns 23,878 shares of the company’s stock valued at $422,000 after acquiring an additional 12,562 shares in the last quarter. HighTower Advisors LLC boosted its holdings in Coupang by 27.0% in the first quarter. HighTower Advisors LLC now owns 81,147 shares of the company’s stock valued at $1,435,000 after acquiring an additional 17,248 shares in the last quarter. Finally, Citigroup Inc. boosted its holdings in Coupang by 75.8% in the first quarter. Citigroup Inc. now owns 78,576 shares of the company’s stock valued at $1,389,000 after acquiring an additional 33,890 shares in the last quarter. Institutional investors 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.