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

Shares of Coupang, Inc. (NYSE:CPNG) 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 changing hands.

Analyst Ratings Changes

Several research firms have recently issued reports on CPNG. UBS Group set a $25.00 target price on shares of Coupang in a report on Thursday, February 19th. Wall Street Zen lowered shares of Coupang from a “hold” rating to a “strong sell” rating in a report on Saturday, March 14th. Mizuho lowered their target price 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. Barclays raised 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. Finally, Weiss Ratings downgraded shares of Coupang from a “sell (d+)” rating to a “sell (d)” rating in a research report on Thursday, May 7th. Four analysts have rated the stock with a Buy rating, five have assigned a Hold rating and two have issued a Sell rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $26.92.

Coupang Stock Performance

The business’s 50-day simple moving average is $18.09 and its 200 day simple moving average is $20.26. The company has a debt-to-equity ratio of 0.16, a quick ratio of 0.76 and a current ratio of 0.97. The firm has a market cap of $30.23 billion, a P/E ratio of -187.15 and a beta of 1.12.

Coupang (NYSE:CPNG) last issued its quarterly earnings data on Tuesday, May 5th. The company reported ($0.15) earnings per share (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 business had revenue of $8.50 billion for the quarter, compared to the consensus estimate of $8.48 billion. During the same period in the previous year, the firm earned $0.06 EPS. The company’s revenue was up 7.5% on a year-over-year basis. As a group, equities analysts predict that Coupang, Inc. will post -0.17 earnings per share for the current year.

Insider Activity

In other Coupang news, Director Neil Mehta acquired 2,332,863 shares of the business’s stock in a transaction dated Friday, March 13th. The stock was purchased at an average price 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 in the company, valued at approximately $1,017,721,976.80. The trade was a 4.40% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 12.83% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Coupang

Hedge funds have recently modified their holdings of the business. EverSource Wealth Advisors LLC lifted its stake in shares of Coupang by 72.6% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 3,316 shares of the company’s stock valued at $99,000 after buying an additional 1,395 shares in the last quarter. Baird Financial Group Inc. lifted its stake in shares of Coupang by 52.8% during the 2nd quarter. Baird Financial Group Inc. now owns 23,471 shares of the company’s stock valued at $703,000 after buying an additional 8,107 shares in the last quarter. Cerity Partners LLC lifted its stake in shares of Coupang by 48.1% during the 2nd quarter. Cerity Partners LLC now owns 45,252 shares of the company’s stock valued at $1,356,000 after buying an additional 14,703 shares in the last quarter. State Street Corp lifted its stake in shares of Coupang by 8.4% during the 2nd quarter. State Street Corp now owns 15,641,775 shares of the company’s stock valued at $468,628,000 after buying an additional 1,210,801 shares in the last quarter. Finally, AXA S.A. purchased a new position in shares of Coupang during the 2nd quarter valued at $411,000. 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.