Bank of America Begins Coverage on Coupang (NYSE:CPNG)

Bank of America assumed coverage on shares of Coupang (NYSE:CPNG) in a research report released on Friday morning, MarketBeat Ratings reports. The firm issued a buy rating and a $30.00 price objective on the stock.

Several other research firms have also recently weighed in on CPNG. Citigroup raised Coupang from a neutral rating to a buy rating and lifted their price objective for the company from $19.00 to $26.00 in a research report on Monday, April 15th. Barclays upped their price target on Coupang from $24.00 to $25.00 and gave the stock an overweight rating in a research note on Thursday, February 29th. Deutsche Bank Aktiengesellschaft upgraded shares of Coupang from a hold rating to a buy rating and boosted their target price for the company from $18.50 to $21.00 in a report on Thursday, February 29th. Finally, TheStreet upgraded shares of Coupang from a d+ rating to a c- rating in a research note on Tuesday, March 5th. One investment analyst has rated the stock with a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of Moderate Buy and a consensus target price of $23.75.

Coupang Price Performance

Shares of Coupang stock opened at $23.36 on Friday. The company has a market cap of $41.89 billion, a PE ratio of 31.15, a P/E/G ratio of 19.21 and a beta of 1.13. The business has a 50 day moving average of $19.65 and a 200 day moving average of $17.17. Coupang has a 52 week low of $13.51 and a 52 week high of $23.51. 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 (NYSE:CPNG) last issued its quarterly earnings data on Tuesday, February 27th. The company reported $0.08 EPS for the quarter, topping the consensus estimate of $0.05 by $0.03. Coupang had a net margin of 5.57% and a return on equity of 15.04%. The business had revenue of $6.56 billion during the quarter, compared to analyst estimates of $6.40 billion. During the same period in the prior year, the business earned $0.06 EPS. The company’s revenue for the quarter was up 23.2% on a year-over-year basis. As a group, equities research analysts forecast that Coupang will post 0.35 earnings per share for the current year.

Insider Transactions at Coupang

In related news, insider Pranam Kolari sold 2,048 shares of the stock in a transaction dated Thursday, May 2nd. The shares were sold at an average price of $22.34, for a total transaction of $45,752.32. Following the sale, the insider now directly owns 187,951 shares of the company’s stock, valued at approximately $4,198,825.34. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, insider Pranam Kolari sold 2,048 shares of the company’s stock in a transaction that occurred on Thursday, May 2nd. The stock was sold at an average price of $22.34, for a total value of $45,752.32. Following the transaction, the insider now directly owns 187,951 shares of the company’s stock, valued at approximately $4,198,825.34. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Harold Rogers sold 139,080 shares of Coupang stock in a transaction on Monday, March 18th. The stock was sold at an average price of $18.25, for a total value of $2,538,210.00. Following the completion of the sale, the insider now directly owns 394,192 shares of the company’s stock, valued at approximately $7,194,004. The disclosure for this sale can be found here. Insiders sold a total of 33,355,282 shares of company stock valued at $633,457,030 in the last quarter. 14.90% of the stock is owned by insiders.

Institutional Trading of Coupang

Institutional investors have recently made changes to their positions in the stock. Global Retirement Partners LLC boosted its holdings in Coupang by 135.8% in the first quarter. Global Retirement Partners LLC now owns 1,436 shares of the company’s stock worth $26,000 after purchasing an additional 827 shares during the last quarter. Headinvest LLC bought a new stake in shares of Coupang in the third quarter worth $29,000. Register Financial Advisors LLC purchased a new stake in Coupang during the first quarter valued at $50,000. NBC Securities Inc. bought a new position in Coupang in the third quarter valued at about $51,000. Finally, Nomura Asset Management Co. Ltd. boosted its position in Coupang by 27.2% in the fourth quarter. Nomura Asset Management Co. Ltd. now owns 8,528 shares of the company’s stock worth $138,000 after purchasing an additional 1,821 shares during the last quarter. Hedge funds and other institutional investors own 83.72% of the company’s stock.

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.