Barclays Forecasts Strong Price Appreciation for Coupang (NYSE:CPNG) Stock

Coupang (NYSE:CPNG) had its price target upped by analysts at Barclays from $32.00 to $34.00 in a report released on Wednesday,Benzinga reports. The brokerage currently has an “overweight” rating on the stock. Barclays‘s price target would indicate a potential upside of 42.59% from the stock’s current price.

Separately, Citigroup dropped their price objective on shares of Coupang from $31.00 to $28.00 and set a “buy” rating on the stock in a report on Wednesday, January 8th. One analyst has rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to MarketBeat, Coupang presently has a consensus rating of “Moderate Buy” and a consensus price target of $27.78.

Coupang Stock Up 0.4 %

Coupang stock opened at $23.85 on Wednesday. The company has a market capitalization of $42.89 billion, a PE ratio of 41.83, a PEG ratio of 43.21 and a beta of 1.11. Coupang has a 12-month low of $14.48 and a 12-month high of $26.91. The firm’s fifty day moving average is $22.92 and its 200 day moving average is $23.58. The company has a quick ratio of 0.86, a current ratio of 1.13 and a debt-to-equity ratio of 0.28.

Insider Activity at Coupang

In related news, VP Pranam Kolari sold 8,459 shares of the firm’s stock in a transaction dated Monday, February 3rd. The shares were sold at an average price of $22.98, for a total transaction of $194,387.82. Following the transaction, the vice president now directly owns 136,806 shares of the company’s stock, valued at $3,143,801.88. This trade represents a 5.82 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 13.60% of the stock is owned by insiders.

Institutional Investors Weigh In On Coupang

Institutional investors have recently added to or reduced their stakes in the company. FMR LLC boosted its stake in shares of Coupang by 32.0% in the 3rd quarter. FMR LLC now owns 27,153,608 shares of the company’s stock worth $666,621,000 after buying an additional 6,584,910 shares during the last quarter. State Street Corp lifted its holdings in Coupang by 1.9% during the third quarter. State Street Corp now owns 14,125,599 shares of the company’s stock worth $346,783,000 after acquiring an additional 259,400 shares during the period. Wellington Management Group LLP boosted its position in Coupang by 43.2% in the third quarter. Wellington Management Group LLP now owns 8,630,058 shares of the company’s stock worth $211,868,000 after purchasing an additional 2,603,046 shares during the last quarter. Coronation Fund Managers Ltd. boosted its position in Coupang by 53.3% in the fourth quarter. Coronation Fund Managers Ltd. now owns 7,383,611 shares of the company’s stock worth $162,292,000 after purchasing an additional 2,566,581 shares during the last quarter. Finally, Geode Capital Management LLC grew its stake in Coupang by 0.5% in the 3rd quarter. Geode Capital Management LLC now owns 5,885,243 shares of the company’s stock valued at $144,483,000 after purchasing an additional 29,164 shares during the period. 83.72% of the stock is owned by 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.