Coupang (NYSE:CPNG) Sets New 12-Month Low – Here’s What Happened

Coupang, Inc. (NYSE:CPNG) hit a new 52-week low during trading on Monday . The stock traded as low as $14.92 and last traded at $15.3520, with a volume of 2507935 shares traded. The stock had previously closed at $15.15.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on CPNG. UBS Group set a $25.00 price objective on Coupang in a research report on Thursday, February 19th. Citigroup cut shares of Coupang from a “buy” rating to a “neutral” rating and cut their target price for the company from $23.00 to $22.20 in a research note on Wednesday, May 6th. Mizuho reduced their price target on shares of Coupang from $32.00 to $25.00 and set a “neutral” rating for the company in a report on Friday, February 27th. Nomura decreased their price target on shares of Coupang from $22.00 to $20.00 and set a “neutral” rating on the stock in a research report on Monday, March 2nd. Finally, Barclays boosted their price objective on shares of Coupang from $24.00 to $30.00 and gave the stock an “overweight” rating in a report on Thursday, April 23rd. Four investment analysts have rated the stock with a Buy rating, five have given a Hold rating and two have assigned a Sell rating to the company’s stock. Based on data from MarketBeat, Coupang presently has an average rating of “Hold” and a consensus target price of $26.92.

Coupang Price Performance

The company has a market cap of $27.96 billion, a price-to-earnings ratio of -172.88 and a beta of 1.13. The company has a current ratio of 0.97, a quick ratio of 0.76 and a debt-to-equity ratio of 0.16. The company has a fifty day moving average price of $18.26 and a two-hundred day moving average price of $20.51.

Coupang (NYSE:CPNG) last issued its earnings results on Tuesday, May 5th. The company reported ($0.15) EPS for the quarter, missing analysts’ consensus estimates of ($0.09) by ($0.06). Coupang had a negative net margin of 0.47% and a negative return on equity of 3.67%. The firm had revenue of $8.50 billion during the quarter, compared to analyst estimates of $8.48 billion. During the same quarter in the previous year, the company posted $0.06 earnings per share. The business’s revenue for the quarter was up 7.5% compared to the same quarter last year. As a group, equities research analysts anticipate that Coupang, Inc. will post -0.17 EPS for the current fiscal year.

Insider Activity

In other Coupang news, Director Neil Mehta acquired 3,000,000 shares of Coupang stock in a transaction dated Thursday, March 12th. The stock was bought at an average cost of $18.68 per share, with a total value of $56,040,000.00. Following the acquisition, the director owned 52,978,114 shares of the company’s stock, valued at approximately $989,631,169.52. The trade was a 6.00% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In the last ninety days, insiders have acquired 7,350,104 shares of company stock valued at $136,566,051. Corporate insiders own 12.83% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the business. Vanguard Group Inc. lifted its holdings in Coupang by 3.3% during the 4th quarter. Vanguard Group Inc. now owns 29,547,637 shares of the company’s stock valued at $697,029,000 after purchasing an additional 951,812 shares during the last quarter. Long Walk Management LP boosted its position in Coupang by 16.4% in the third quarter. Long Walk Management LP now owns 2,935,000 shares of the company’s stock valued at $94,507,000 after buying an additional 413,375 shares in the last quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management grew its stake in Coupang by 112.5% during the third quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management now owns 218,000 shares of the company’s stock worth $7,020,000 after buying an additional 115,426 shares during the last quarter. Ethic Inc. increased its holdings in shares of Coupang by 383.2% during the fourth quarter. Ethic Inc. now owns 126,154 shares of the company’s stock worth $2,976,000 after buying an additional 100,047 shares in the last quarter. Finally, William Blair Investment Management LLC increased its holdings in shares of Coupang by 114.6% during the third quarter. William Blair Investment Management LLC now owns 2,205,332 shares of the company’s stock worth $71,012,000 after buying an additional 1,177,875 shares in the last quarter. Institutional investors and hedge funds own 83.72% of the company’s stock.

Coupang Company Profile

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.