Mizuho Issues Positive Forecast for Coupang (NYSE:CPNG) Stock Price

Coupang (NYSE:CPNG) had its target price raised by equities researchers at Mizuho from $25.00 to $27.00 in a note issued to investors on Wednesday,Benzinga reports. The firm currently has a “neutral” rating on the stock. Mizuho’s price objective suggests a potential upside of 6.78% from the stock’s previous close.

CPNG has been the topic of several other reports. Deutsche Bank Aktiengesellschaft upgraded shares of Coupang from a “hold” rating to a “buy” rating and set a $28.50 price target on the stock in a research report on Wednesday. Citigroup decreased their price objective on shares of Coupang from $31.00 to $28.00 and set a “buy” rating for the company in a report on Wednesday, January 8th. Finally, Barclays boosted their price objective on shares of Coupang from $32.00 to $34.00 and gave the stock an “overweight” rating in a research note on Wednesday, February 12th. One investment analyst has rated the stock with a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $29.06.

Coupang Stock Up 4.6 %

Shares of NYSE:CPNG traded up $1.12 on Wednesday, hitting $25.29. 7,103,407 shares of the company traded hands, compared to its average volume of 7,983,643. The company has a market cap of $45.49 billion, a PE ratio of 44.34, a PEG ratio of 52.20 and a beta of 1.11. The stock has a 50 day simple moving average of $23.13 and a 200-day simple moving average of $23.86. Coupang has a 52 week low of $16.45 and a 52 week high of $26.91. 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 Transactions at Coupang

In other Coupang news, VP Pranam Kolari sold 8,459 shares of the firm’s stock in a transaction on 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 approximately $3,143,801.88. This trade represents a 5.82 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Corporate insiders own 13.60% of the company’s stock.

Institutional Investors Weigh In On Coupang

Several institutional investors have recently made changes to their positions in the stock. Brooklyn Investment Group purchased a new position in shares of Coupang during the third quarter valued at approximately $28,000. Wingate Wealth Advisors Inc. acquired a new stake in shares of Coupang during the fourth quarter worth approximately $26,000. Van ECK Associates Corp lifted its stake in Coupang by 63.1% during the third quarter. Van ECK Associates Corp now owns 1,251 shares of the company’s stock worth $32,000 after purchasing an additional 484 shares during the last quarter. Berbice Capital Management LLC acquired a new position in shares of Coupang during the fourth quarter valued at $31,000. Finally, Itau Unibanco Holding S.A. grew its position in Coupang by 520.6% in the 4th quarter. Itau Unibanco Holding S.A. now owns 1,955 shares of the company’s stock valued at $43,000 after buying an additional 1,640 shares in the last quarter. 83.72% of the stock is currently owned by hedge funds and other institutional investors.

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.