Posted by admin on Aug 10th, 2022 
Macquarie initiated coverage on shares of Coupang (NYSE:CPNG – Get Rating) in a research note released on Tuesday morning, MarketBeat reports. The firm issued an outperform rating and a $26.00 price objective on the stock.
Other research analysts have also issued research reports about the stock. Citigroup raised their price objective on shares of Coupang to $17.00 in a research note on Thursday, June 9th. Morgan Stanley began coverage on shares of Coupang in a research note on Wednesday, June 29th. They issued an overweight rating and a $18.00 price objective for the company. JPMorgan Chase & Co. raised shares of Coupang from a neutral rating to an overweight rating and lowered their price objective for the company from $25.00 to $17.00 in a research note on Friday, May 6th. Credit Suisse Group raised shares of Coupang from a neutral rating to an outperform rating and lowered their price objective for the company from $28.00 to $19.00 in a research note on Thursday, June 30th. Finally, Mizuho lowered their price objective on shares of Coupang from $28.00 to $18.00 in a research note on Thursday, May 12th. One analyst has rated the stock with a hold rating and eight have given a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of Moderate Buy and an average target price of $21.71.
Shares of CPNG opened at $18.98 on Tuesday. Coupang has a 1-year low of $8.98 and a 1-year high of $39.84. The stock has a market cap of $33.45 billion, a PE ratio of -22.60 and a beta of 1.37. The firm has a 50-day simple moving average of $14.85 and a two-hundred day simple moving average of $16.80. The company has a debt-to-equity ratio of 0.30, a current ratio of 1.22 and a quick ratio of 0.91.
Coupang (NYSE:CPNG – Get Rating) last posted its quarterly earnings data on Wednesday, May 11th. The company reported ($0.12) EPS for the quarter, beating the consensus estimate of ($0.59) by $0.47. Coupang had a negative net margin of 7.54% and a negative return on equity of 48.47%. The business had revenue of $5.12 billion during the quarter, compared to analyst estimates of $5.11 billion. During the same quarter last year, the firm posted ($0.68) earnings per share. As a group, analysts forecast that Coupang will post -0.4 EPS for the current year.
In related news, CAO Michael Parker sold 72,891 shares of Coupang stock in a transaction that occurred on Monday, May 16th. The shares were sold at an average price of $13.00, for a total value of $947,583.00. Following the completion of the transaction, the chief accounting officer now owns 38,575 shares in the company, valued at $501,475. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, CAO Michael Parker sold 72,891 shares of the business’s stock in a transaction that occurred on Monday, May 16th. The shares were sold at an average price of $13.00, for a total transaction of $947,583.00. Following the completion of the sale, the chief accounting officer now owns 38,575 shares in the company, valued at approximately $501,475. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CTO Thuan Pham sold 120,038 shares of the business’s stock in a transaction that occurred on Tuesday, July 5th. The stock was sold at an average price of $14.27, for a total transaction of $1,712,942.26. Following the sale, the chief technology officer now owns 2,558,940 shares of the company’s stock, valued at approximately $36,516,073.80. The disclosure for this sale can be found here. Insiders sold 193,100 shares of company stock worth $2,663,287 over the last 90 days.
Several institutional investors have recently modified their holdings of CPNG. Industrial Alliance Investment Management Inc. purchased a new stake in shares of Coupang during the 4th quarter worth approximately $28,000. Harbor Investment Advisory LLC increased its holdings in shares of Coupang by 14,350.0% in the 1st quarter. Harbor Investment Advisory LLC now owns 1,734 shares of the company’s stock valued at $31,000 after acquiring an additional 1,722 shares during the period. Pinebridge Investments L.P. increased its holdings in shares of Coupang by 1,125.5% in the 2nd quarter. Pinebridge Investments L.P. now owns 2,451 shares of the company’s stock valued at $31,000 after acquiring an additional 2,251 shares during the period. GPS Wealth Strategies Group LLC increased its holdings in shares of Coupang by 38.9% in the 2nd quarter. GPS Wealth Strategies Group LLC now owns 2,500 shares of the company’s stock valued at $32,000 after acquiring an additional 700 shares during the period. Finally, Steward Partners Investment Advisory LLC increased its holdings in shares of Coupang by 244.6% in the 1st quarter. Steward Partners Investment Advisory LLC now owns 2,240 shares of the company’s stock valued at $40,000 after acquiring an additional 1,590 shares during the period. Hedge funds and other institutional investors own 73.49% of the company’s stock.
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Coupang, Inc owns and operates in e-commerce business through its mobile applications and Internet websites primarily in South Korea. It operates through two segments, Product Commerce and Growth Initiatives. The company 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.
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