Coupang, Inc. (NYSE:CPNG) Stock Has Average Price Target of $24.06 According to Brokerages

Coupang, Inc. (NYSE:CPNG) has been given a consensus recommendation of “Hold” by the eleven analysts that are presently covering the company, Marketbeat.com reports. Two research analysts have rated the stock with a sell recommendation, four have issued a hold recommendation and five have given a buy recommendation to the company. The average 1 year price target among brokerages that have covered the stock in the last year is $24.06.

CPNG has been the topic of a number of recent research reports. Bank of America dropped their price objective on Coupang from $27.00 to $24.00 and set a “buy” rating on the stock in a report on Wednesday, August 5th. The Goldman Sachs Group set a $31.00 target price on Coupang in a report on Thursday, July 9th. Weiss Ratings reiterated a “sell (d)” rating on shares of Coupang in a research report on Tuesday, August 4th. Barclays reiterated an “overweight” rating and set a $29.00 price target on shares of Coupang in a research report on Tuesday, July 7th. Finally, Mizuho set a $22.00 price target on shares of Coupang in a report on Wednesday, August 5th.

Coupang Price Performance

Coupang stock opened at $14.36 on Tuesday. Coupang has a one year low of $13.35 and a one year high of $32.35. The business has a fifty day moving average price of $15.16 and a 200-day moving average price of $16.78. The company has a debt-to-equity ratio of 0.21, a current ratio of 0.87 and a quick ratio of 0.68. The firm has a market capitalization of $25.81 billion, a P/E ratio of -33.39 and a beta of 1.17.

Coupang (NYSE:CPNG) last announced its quarterly earnings results on Tuesday, August 4th. The company reported ($0.09) earnings per share for the quarter, beating the consensus estimate of ($0.27) by $0.18. Coupang had a negative return on equity of 8.77% and a negative net margin of 2.16%. The company had revenue of $8.86 billion during the quarter, compared to analysts’ expectations of $8.92 billion. During the same period in the previous year, the business earned $0.02 earnings per share. The firm’s quarterly revenue was up 3.9% compared to the same quarter last year. As a group, equities research analysts forecast that Coupang will post -0.47 EPS for the current year.

Insider Activity at Coupang

In other Coupang news, CAO Jonathan D. Lee sold 5,519 shares of the stock in a transaction that occurred on Friday, October 2nd. The shares were sold at an average price of $13.65, for a total value of $75,334.35. Following the sale, the chief accounting officer directly owned 176,396 shares in the company, valued at $2,407,805.40. This represents a 3.03% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Harold Rogers sold 192,110 shares of the stock in a transaction that occurred on Monday, August 10th. The stock was sold at an average price of $16.18, for a total transaction of $3,108,339.80. Following the completion of the sale, the insider owned 740,931 shares in the company, valued at $11,988,263.58. This represents a 20.59% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last ninety days, insiders have sold 203,148 shares of company stock valued at $3,272,530. 12.83% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the company. Reflection Asset Management bought a new position in shares of Coupang in the fourth quarter worth $28,000. Webster Bank N. A. raised its position in shares of Coupang by 325.8% in the first quarter. Webster Bank N. A. now owns 1,699 shares of the company’s stock worth $32,000 after buying an additional 1,300 shares in the last quarter. Main Street Group LTD purchased a new stake in shares of Coupang in the first quarter worth $40,000. Root Financial Partners LLC raised its position in shares of Coupang by 68.5% in the first quarter. Root Financial Partners LLC now owns 2,265 shares of the company’s stock worth $43,000 after buying an additional 921 shares in the last quarter. Finally, Trellis Wealth Advisors LLC bought a new stake in Coupang during the third quarter valued at $44,000. 83.72% of the stock is owned by institutional investors.

About Coupang

Coupang, Inc is an e-commerce and technology company that operates a large digital retail platform. The company offers a broad selection of merchandise, including electronics, household goods, apparel, beauty products and groceries. Its services include Rocket Delivery, a fast-delivery program; Rocket Fresh, which focuses on fresh food and groceries; and Wow, a membership program that provides delivery and other customer benefits.

Coupang also operates Coupang Eats, a restaurant-ordering and delivery service, as well as Coupang Play, a digital video streaming platform.