Coupang (NYSE:CPNG) Rating Increased to Buy at Citigroup

Coupang (NYSE:CPNG) was upgraded by stock analysts at Citigroup from a “neutral” rating to a “buy” rating in a report released on Monday, MarketBeat Ratings reports. The brokerage currently has a $26.00 price target on the stock, up from their previous price target of $19.00. Citigroup’s target price would indicate a potential upside of 15.50% from the company’s previous close.

Several other research firms also recently weighed in on CPNG. UBS Group downgraded shares of Coupang from a “buy” rating to a “neutral” rating and dropped their target price for the company from $26.00 to $18.50 in a report on Wednesday, December 20th. Barclays lifted their target price on shares of Coupang from $24.00 to $25.00 and gave the company an “overweight” rating in a report on Thursday, February 29th. Deutsche Bank Aktiengesellschaft upgraded shares of Coupang from a “hold” rating to a “buy” rating and lifted their target price for the company from $18.50 to $21.00 in a report on Thursday, February 29th. Finally, TheStreet upgraded shares of Coupang from a “d+” rating to a “c-” rating in a research note on Tuesday, March 5th. One analyst has rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat, Coupang currently has a consensus rating of “Moderate Buy” and a consensus price target of $22.42.

Coupang Stock Up 4.0 %

CPNG stock opened at $22.51 on Monday. The firm has a market cap of $40.37 billion, a PE ratio of 30.01 and a beta of 1.32. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.90 and a current ratio of 1.14. The firm’s 50 day moving average price is $17.76 and its 200-day moving average price is $16.69. Coupang has a one year low of $13.51 and a one year high of $22.83.

Coupang (NYSE:CPNG) last posted its earnings results on Tuesday, February 27th. The company reported $0.08 earnings per share for the quarter, beating the consensus estimate of $0.05 by $0.03. Coupang had a net margin of 5.57% and a return on equity of 15.04%. The firm had revenue of $6.56 billion during the quarter, compared to the consensus estimate of $6.40 billion. During the same quarter last year, the firm earned $0.06 EPS. The firm’s revenue for the quarter was up 23.2% on a year-over-year basis. On average, equities research analysts anticipate that Coupang will post 0.29 EPS for the current year.

Insider Transactions at Coupang

In other news, major shareholder Svf Investments (Uk) Ltd sold 31,614,154 shares of Coupang stock in a transaction on Tuesday, March 12th. The shares were sold at an average price of $19.01, for a total transaction of $600,985,067.54. Following the completion of the sale, the insider now directly owns 364,542,259 shares of the company’s stock, valued at approximately $6,929,948,343.59. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. In other news, major shareholder Svf Investments (Uk) Ltd sold 31,614,154 shares of Coupang stock in a transaction on Tuesday, March 12th. The shares were sold at an average price of $19.01, for a total transaction of $600,985,067.54. Following the completion of the sale, the insider now directly owns 364,542,259 shares of the company’s stock, valued at approximately $6,929,948,343.59. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. 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. In the last three months, insiders sold 33,355,590 shares of company stock valued at $633,443,979. Insiders own 14.90% of the company’s stock.

Institutional Investors Weigh In On Coupang

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Baillie Gifford & Co. lifted its position in Coupang by 21.6% in the fourth quarter. Baillie Gifford & Co. now owns 145,524,128 shares of the company’s stock valued at $2,356,036,000 after acquiring an additional 25,843,034 shares during the last quarter. Price T Rowe Associates Inc. MD lifted its position in Coupang by 12.4% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 59,970,385 shares of the company’s stock valued at $970,922,000 after acquiring an additional 6,618,577 shares during the last quarter. Duquesne Family Office LLC lifted its position in Coupang by 4.4% in the fourth quarter. Duquesne Family Office LLC now owns 20,283,765 shares of the company’s stock valued at $298,374,000 after acquiring an additional 849,458 shares during the last quarter. FMR LLC lifted its position in 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 during the last quarter. Finally, Viking Global Investors LP lifted its position in Coupang by 255.2% in the fourth quarter. Viking Global Investors LP now owns 15,494,869 shares of the company’s stock valued at $250,862,000 after acquiring an additional 11,132,325 shares during the last quarter. 83.72% of the stock is owned by hedge funds and other institutional investors.

Coupang Company Profile

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.