Coupang, Inc. (NYSE:CPNG) Receives Average Recommendation of “Hold” from Brokerages

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

A number of research firms have recently issued reports on CPNG. Deutsche Bank Aktiengesellschaft raised Coupang from a “hold” rating to a “buy” rating and cut their price objective for the company from $23.00 to $21.50 in a research report on Wednesday, August 5th. Bank of America dropped their price objective on Coupang from $27.00 to $24.00 and set a “buy” rating for the company in a research report on Wednesday, August 5th. Mizuho set a $22.00 price target on Coupang in a research note on Wednesday, August 5th. Weiss Ratings reaffirmed a “sell (d)” rating on shares of Coupang in a research note on Tuesday, August 4th. Finally, Barclays restated an “overweight” rating and set a $29.00 price target on shares of Coupang in a report on Tuesday, July 7th.

Insider Transactions at Coupang

In related news, insider Harold Rogers sold 192,110 shares of the firm’s stock in a transaction dated Monday, August 10th. The shares were sold at an average price of $16.18, for a total transaction of $3,108,339.80. Following the transaction, the insider directly owned 740,931 shares of the company’s stock, valued at $11,988,263.58. This trade represents a 20.59% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CAO Jonathan D. Lee sold 5,519 shares of Coupang stock in a transaction that occurred on Monday, August 10th. The stock was sold at an average price of $16.10, for a total transaction of $88,855.90. Following the transaction, the chief accounting officer directly owned 181,915 shares in the company, valued at approximately $2,928,831.50. This represents a 2.94% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 12.83% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Coupang

A number of hedge funds have recently made changes to their positions in CPNG. Sequoia Financial Advisors LLC raised its position in Coupang by 18.0% in the second quarter. Sequoia Financial Advisors LLC now owns 89,534 shares of the company’s stock worth $1,555,000 after acquiring an additional 13,666 shares during the period. MCF Advisors LLC lifted its position in shares of Coupang by 806.8% during the second quarter. MCF Advisors LLC now owns 13,793 shares of the company’s stock worth $240,000 after acquiring an additional 12,272 shares in the last quarter. Engineers Gate Manager LP purchased a new stake in Coupang during the 2nd quarter worth about $6,081,000. Carrhae Capital LLP purchased a new stake in shares of Coupang in the second quarter worth about $38,187,000. Finally, Light Street Capital Management LLC boosted its holdings in Coupang by 92.5% in the 2nd quarter. Light Street Capital Management LLC now owns 2,025,000 shares of the company’s stock valued at $35,174,000 after purchasing an additional 973,043 shares during the period. 83.72% of the stock is currently owned by institutional investors.

Coupang Stock Performance

Shares of Coupang stock opened at $13.77 on Friday. The stock’s 50-day moving average is $15.48 and its 200-day moving average is $17.15. 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 cap of $24.74 billion, a price-to-earnings ratio of -32.01 and a beta of 1.17. Coupang has a one year low of $13.40 and a one year high of $32.96.

Coupang (NYSE:CPNG) last released its earnings results on Tuesday, August 4th. The company reported ($0.09) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.27) by $0.18. The business had revenue of $8.86 billion during the quarter, compared to the consensus estimate of $8.92 billion. Coupang had a negative net margin of 2.16% and a negative return on equity of 8.77%. The firm’s revenue for the quarter was up 3.9% compared to the same quarter last year. During the same quarter last year, the firm earned $0.02 earnings per share. Equities analysts predict that Coupang will post -0.46 earnings per share for the current fiscal year.

About Coupang

Coupang, Inc is an e-commerce and technology company that operates primarily in South Korea and Taiwan. The company connects consumers with a broad selection of merchandise, including groceries, household goods, electronics, apparel, beauty products and other everyday items. Its services are supported by an integrated logistics network designed to provide fast delivery and a convenient online shopping experience.

Coupang’s offerings include its Rocket Delivery and Rocket Fresh services, which provide rapid delivery of general merchandise and groceries, respectively.