Coupang (NYSE:CPNG) Shares Gap Up – Here’s What Happened

Coupang, Inc. (NYSE:CPNG) shares gapped up before the market opened on Thursday . The stock had previously closed at $15.12, but opened at $16.36. Coupang shares last traded at $16.3780, with a volume of 11,666,213 shares trading hands.

Analyst Ratings Changes

A number of research analysts recently weighed in on CPNG shares. Deutsche Bank Aktiengesellschaft cut shares of Coupang from a “buy” rating to a “hold” rating and set a $23.00 target price on the stock. in a research note on Wednesday, May 6th. Citigroup cut shares of Coupang from a “buy” rating to a “neutral” rating and lowered their target price for the company from $23.00 to $22.20 in a research note on Wednesday, May 6th. UBS Group set a $25.00 target price on shares of Coupang in a research note on Thursday, February 19th. Morgan Stanley lowered their target price on shares of Coupang from $31.00 to $29.00 and set an “overweight” rating on the stock in a research note on Monday, March 2nd. Finally, Barclays boosted their price target on shares of Coupang from $24.00 to $30.00 and gave the stock an “overweight” rating in a research note on Thursday, April 23rd. Four investment analysts have rated the stock with a Buy rating, five have issued a Hold rating and two have issued a Sell rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $26.92.

Coupang Stock Performance

The firm has a market cap of $30.23 billion, a PE ratio of -187.15 and a beta of 1.12. 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 firm’s 50 day simple moving average is $18.09 and its 200 day simple moving average is $20.26.

Coupang (NYSE:CPNG) last announced its quarterly earnings results on Tuesday, May 5th. The company reported ($0.15) EPS for the quarter, missing the consensus estimate of ($0.09) by ($0.06). The company had revenue of $8.50 billion during the quarter, compared to analysts’ expectations of $8.48 billion. Coupang had a negative return on equity of 3.67% and a negative net margin of 0.47%.The firm’s revenue for the quarter was up 7.5% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.06 EPS. On average, research analysts forecast that Coupang, Inc. will post -0.17 EPS for the current fiscal year.

Insider Activity

In other Coupang news, Director Neil Mehta bought 2,332,863 shares of the firm’s stock in a transaction dated Friday, March 13th. The shares were purchased at an average cost of $18.40 per share, for a total transaction of $42,924,679.20. Following the transaction, the director owned 55,310,977 shares of the company’s stock, valued at $1,017,721,976.80. This represents a 4.40% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 12.83% of the company’s stock.

Institutional Trading of Coupang

Several hedge funds have recently made changes to their positions in the business. Rathbones Group PLC raised its position in shares of Coupang by 25.4% during the 1st quarter. Rathbones Group PLC now owns 57,592 shares of the company’s stock valued at $1,087,000 after buying an additional 11,660 shares in the last quarter. Allen Capital Group LLC raised its position in shares of Coupang by 469.2% during the 1st quarter. Allen Capital Group LLC now owns 150,791 shares of the company’s stock valued at $2,847,000 after buying an additional 124,297 shares in the last quarter. Axiom Investment Management LLC purchased a new stake in shares of Coupang during the 1st quarter valued at about $502,000. Essential Partners LLC raised its position in shares of Coupang by 193.4% during the 1st quarter. Essential Partners LLC now owns 3,448 shares of the company’s stock valued at $65,000 after buying an additional 2,273 shares in the last quarter. Finally, RMR Capital Management LLC raised its position in shares of Coupang by 68.5% during the 1st quarter. RMR Capital Management LLC now owns 27,059 shares of the company’s stock valued at $511,000 after buying an additional 11,000 shares in the last quarter. 83.72% of the stock is currently owned by hedge funds and other institutional investors.

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.