Coupang (NYSE:CPNG) Cut to Hold at Deutsche Bank Aktiengesellschaft

Coupang (NYSE:CPNG) was downgraded by analysts at Deutsche Bank Aktiengesellschaft from a “buy” rating to a “hold” rating in a report issued on Wednesday. They currently have a $23.00 price objective on the stock. Deutsche Bank Aktiengesellschaft’s price objective suggests a potential upside of 10.72% from the company’s previous close.

Several other brokerages have also commented on CPNG. Nomura decreased their price objective on shares of Coupang from $22.00 to $20.00 and set a “neutral” rating for the company in a report on Monday, March 2nd. Weiss Ratings lowered shares of Coupang from a “hold (c)” rating to a “sell (d+)” rating in a research note on Monday, March 2nd. Barclays boosted their price target on shares of Coupang from $24.00 to $30.00 and gave the company an “overweight” rating in a research report on Thursday, April 23rd. UBS Group set a $25.00 price objective on shares of Coupang in a report on Thursday, February 19th. Finally, Wall Street Zen cut Coupang from a “hold” rating to a “strong sell” rating in a research report on Saturday, March 14th. Four equities research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and two have assigned a Sell rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $26.92.

Coupang Trading Up 2.5%

NYSE CPNG opened at $20.77 on Wednesday. The stock has a market cap of $37.98 billion, a P/E ratio of 173.13 and a beta of 1.20. Coupang has a fifty-two week low of $16.74 and a fifty-two week high of $34.08. The stock has a 50 day simple moving average of $19.58 and a two-hundred day simple moving average of $22.82. The company has a debt-to-equity ratio of 0.14, a quick ratio of 0.79 and a current ratio of 1.04.

Coupang (NYSE:CPNG) last posted its earnings results on Tuesday, May 5th. The company reported ($0.15) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.09) by ($0.06). Coupang had a net margin of 0.60% and a return on equity of 4.52%. The business had revenue of $8.50 billion for the quarter, compared to analysts’ expectations of $8.48 billion. During the same period last year, the firm posted $0.06 earnings per share. Coupang’s quarterly revenue was up 7.5% on a year-over-year basis. On average, analysts forecast that Coupang will post -0.15 earnings per share for the current year.

Insider Buying and Selling at Coupang

In other Coupang news, Director Neil Mehta bought 2,332,863 shares of Coupang stock in a transaction dated Friday, March 13th. The shares were purchased at an average cost of $18.40 per share, with a total value of $42,924,679.20. Following the transaction, the director directly 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 acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Over the last quarter, insiders have bought 7,350,104 shares of company stock valued at $136,566,051. 12.78% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Coupang

Several hedge funds have recently bought and sold shares of the business. Massachusetts Financial Services Co. MA raised its position in shares of Coupang by 2.9% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 11,215,142 shares of the company’s stock worth $361,128,000 after purchasing an additional 318,115 shares during the last quarter. TRB Advisors LP bought a new position in Coupang in the 3rd quarter worth about $1,863,000. New York State Common Retirement Fund grew its position in Coupang by 18.5% during the 3rd quarter. New York State Common Retirement Fund now owns 728,861 shares of the company’s stock valued at $23,469,000 after purchasing an additional 113,950 shares during the last quarter. Rit Capital Partners PLC increased its stake in Coupang by 3.5% during the 3rd quarter. Rit Capital Partners PLC now owns 2,700,750 shares of the company’s stock valued at $86,937,000 after purchasing an additional 91,550 shares in the last quarter. Finally, Vanguard Group Inc. increased its stake in Coupang by 343.5% during the 3rd quarter. Vanguard Group Inc. now owns 28,595,825 shares of the company’s stock valued at $920,786,000 after purchasing an additional 22,147,432 shares in the last quarter. Institutional investors own 83.72% of the company’s stock.

About Coupang

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.