Coupang (NYSE:CPNG) Downgraded by Nomura Securities to Hold

Nomura Securities lowered shares of Coupang (NYSE:CPNGFree Report) from a strong-buy rating to a hold rating in a research report sent to investors on Monday morning,Zacks.com reports.

A number of other brokerages have also issued reports on CPNG. Zacks Research raised Coupang from a “strong sell” rating to a “hold” rating in a research report on Tuesday, November 4th. Weiss Ratings reiterated a “hold (c)” rating on shares of Coupang in a report on Wednesday, October 8th. Barclays increased their target price on Coupang from $36.00 to $40.00 and gave the stock an “overweight” rating in a research note on Tuesday, November 11th. Bank of America lifted their target price on Coupang from $36.00 to $38.00 and gave the company a “buy” rating in a research report on Wednesday, November 5th. Finally, Arete Research initiated coverage on shares of Coupang in a research note on Thursday, September 18th. They set a “buy” rating and a $40.00 price target on the stock. Four investment analysts have rated the stock with a Buy rating and six have given a Hold rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $32.86.

View Our Latest Analysis on CPNG

Coupang Stock Down 2.5%

Shares of NYSE:CPNG opened at $22.17 on Monday. The business has a 50-day moving average price of $25.84 and a 200 day moving average price of $28.95. The company has a current ratio of 1.06, a quick ratio of 0.82 and a debt-to-equity ratio of 0.13. The company has a market capitalization of $40.50 billion, a price-to-earnings ratio of 105.58 and a beta of 1.20. Coupang has a 12-month low of $19.02 and a 12-month high of $34.08.

Coupang (NYSE:CPNGGet Free Report) last announced its earnings results on Tuesday, November 4th. The company reported $0.05 earnings per share for the quarter, topping the consensus estimate of $0.04 by $0.01. The company had revenue of $9.27 billion during the quarter, compared to analyst estimates of $9.13 billion. Coupang had a net margin of 1.16% and a return on equity of 6.95%. Coupang’s revenue was up 17.8% compared to the same quarter last year. During the same quarter last year, the firm posted $0.06 earnings per share. Sell-side analysts expect that Coupang will post 0.17 EPS for the current year.

Insider Activity

In other news, CAO Jonathan D. Lee sold 2,679 shares of Coupang stock in a transaction dated Friday, January 2nd. The stock was sold at an average price of $23.62, for a total transaction of $63,277.98. Following the sale, the chief accounting officer owned 122,096 shares in the company, valued at approximately $2,883,907.52. The trade was a 2.15% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, VP Pranam Kolari sold 11,653 shares of the business’s stock in a transaction dated Monday, November 3rd. The shares were sold at an average price of $31.98, for a total value of $372,662.94. Following the completion of the sale, the vice president directly owned 147,023 shares of the company’s stock, valued at $4,701,795.54. The trade was a 7.34% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 12.78% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Coupang

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Focus Partners Wealth purchased a new position in shares of Coupang during the first quarter worth approximately $1,855,000. Voya Investment Management LLC boosted its stake in Coupang by 5.2% during the 1st quarter. Voya Investment Management LLC now owns 593,615 shares of the company’s stock worth $13,018,000 after purchasing an additional 29,436 shares during the period. Triumph Capital Management grew its position in Coupang by 251.3% during the 2nd quarter. Triumph Capital Management now owns 34,556 shares of the company’s stock worth $1,035,000 after purchasing an additional 24,718 shares during the last quarter. Inspirion Wealth Advisors LLC grew its position in Coupang by 0.3% during the 2nd quarter. Inspirion Wealth Advisors LLC now owns 134,314 shares of the company’s stock worth $4,024,000 after purchasing an additional 400 shares during the last quarter. Finally, Pallas Capital Advisors LLC acquired a new position in Coupang in the second quarter valued at $447,000. Hedge funds and other institutional investors own 83.72% of the company’s stock.

More Coupang News

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Coupang Company Profile

(Get Free Report)

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.

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Analyst Recommendations for Coupang (NYSE:CPNG)

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