Citigroup Boosts Coupang (NYSE:CPNG) Price Target to $28.00

Coupang (NYSE:CPNG) had its price objective lifted by Citigroup from $26.00 to $28.00 in a research report report published on Wednesday morning, Benzinga reports. The firm currently has a buy rating on the stock.

A number of other brokerages also recently commented on CPNG. Barclays lifted their target price on shares of Coupang from $24.00 to $25.00 and gave the stock an overweight rating in a research note on Thursday, February 29th. Bank of America started coverage on Coupang in a report on Friday, May 3rd. They issued a buy rating and a $30.00 price objective on the stock. Deutsche Bank Aktiengesellschaft raised Coupang from a hold rating to a buy rating and raised their target price for the stock from $18.50 to $21.00 in a research note on Thursday, February 29th. Mizuho increased their price target on Coupang from $20.00 to $23.00 and gave the stock a neutral rating in a report on Wednesday. Finally, TheStreet upgraded shares of Coupang from a d+ rating to a c- rating in a report on Tuesday, March 5th. Two investment analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to data from MarketBeat, Coupang presently has an average rating of Moderate Buy and an average target price of $25.42.

Coupang Price Performance

NYSE CPNG traded up $0.54 during trading hours on Wednesday, hitting $22.01. 12,608,282 shares of the company’s stock traded hands, compared to its average volume of 13,413,551. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.14 and a quick ratio of 0.90. The firm’s 50-day moving average is $19.97 and its 200-day moving average is $17.27. Coupang has a 52-week low of $13.51 and a 52-week high of $23.77. The company has a market capitalization of $39.46 billion, a PE ratio of 29.60, a PEG ratio of 19.21 and a beta of 1.13.

Coupang (NYSE:CPNG) last posted its quarterly earnings results on Tuesday, May 7th. The company reported $0.05 EPS for the quarter, missing the consensus estimate of $0.06 by ($0.01). Coupang had a net margin of 5.57% and a return on equity of 15.04%. The company had revenue of $7.11 billion during the quarter, compared to analyst estimates of $6.95 billion. During the same period in the prior year, the business posted $0.05 EPS. Coupang’s revenue for the quarter was up 22.6% compared to the same quarter last year. Equities analysts forecast that Coupang will post 0.35 EPS for the current fiscal year.

Insider Transactions at Coupang

In other news, insider Harold Rogers sold 139,080 shares of the company’s stock in a transaction on Monday, March 18th. The stock was sold at an average price of $18.25, for a total transaction of $2,538,210.00. Following the sale, the insider now owns 394,192 shares of the company’s stock, valued at $7,194,004. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Coupang news, Director Neil Mehta sold 1,600,000 shares of the business’s stock in a transaction that occurred on Thursday, March 14th. The shares were sold at an average price of $18.68, for a total transaction of $29,888,000.00. Following the completion of the transaction, the director now owns 48,006,135 shares in the company, valued at approximately $896,754,601.80. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Harold Rogers sold 139,080 shares of Coupang stock in a transaction on Monday, March 18th. The stock was sold at an average price of $18.25, for a total transaction of $2,538,210.00. Following the sale, the insider now directly owns 394,192 shares of the company’s stock, valued at $7,194,004. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 33,355,282 shares of company stock valued at $633,457,030. 14.90% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Coupang

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Baillie Gifford & Co. increased its holdings in shares of Coupang by 15.9% in the first quarter. Baillie Gifford & Co. now owns 168,600,998 shares of the company’s stock valued at $2,999,412,000 after purchasing an additional 23,076,870 shares during the period. WCM Investment Management LLC lifted its stake in shares of Coupang by 2,250.9% in the 1st quarter. WCM Investment Management LLC now owns 44,926,485 shares of the company’s stock worth $799,242,000 after acquiring an additional 43,015,433 shares during the period. FMR LLC boosted its holdings in shares of Coupang by 2.0% in the third quarter. FMR LLC now owns 19,836,006 shares of the company’s stock valued at $337,212,000 after acquiring an additional 381,964 shares in the last quarter. Norges Bank purchased a new stake in shares of Coupang in the fourth quarter valued at about $250,714,000. Finally, Sands Capital Management LLC raised its holdings in Coupang by 0.7% during the fourth quarter. Sands Capital Management LLC now owns 14,440,552 shares of the company’s stock worth $233,793,000 after purchasing an additional 98,043 shares in the last quarter. 83.72% of the stock is owned by institutional investors and hedge funds.

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.