Coupang (NYSE:CPNG) Given New $27.00 Price Target at Morgan Stanley

Coupang (NYSE:CPNG) had its price target increased by Morgan Stanley from $26.00 to $27.00 in a report issued on Wednesday, Benzinga reports. Morgan Stanley currently has an overweight rating on the stock.

Several other brokerages have also issued reports on CPNG. Mizuho increased their price target on shares of Coupang from $20.00 to $23.00 and gave the stock a neutral rating in a research note on Wednesday, May 8th. Barclays increased their price objective on shares of Coupang from $25.00 to $32.00 and gave the company an overweight rating in a research report on Thursday, May 9th. Deutsche Bank Aktiengesellschaft raised shares of Coupang from a hold rating to a buy rating and increased their price objective for the company from $18.50 to $21.00 in a research report on Thursday, February 29th. Bank of America initiated coverage on shares of Coupang in a research report on Friday, May 3rd. They set a buy rating and a $30.00 price objective on the stock. Finally, Citigroup increased their price objective on shares of Coupang from $26.00 to $28.00 and gave the company a buy rating in a research report on Wednesday, May 8th. One research analyst has rated the stock with a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of Moderate Buy and an average target price of $26.71.

Coupang Stock Down 0.7 %

Shares of Coupang stock opened at $20.95 on Wednesday. The company has a debt-to-equity ratio of 0.67, a current ratio of 1.15 and a quick ratio of 0.89. The company has a 50-day moving average of $22.18 and a 200 day moving average of $18.78. The firm has a market cap of $37.46 billion, a price-to-earnings ratio of 29.93, a PEG ratio of 45.06 and a beta of 1.12. Coupang has a 1 year low of $13.51 and a 1 year high of $23.77.

Coupang (NYSE:CPNG) last issued its quarterly earnings results on Tuesday, May 7th. The company reported $0.05 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.06 by ($0.01). The business had revenue of $7.11 billion during the quarter, compared to the consensus estimate of $6.95 billion. Coupang had a return on equity of 13.59% and a net margin of 4.96%. The firm’s revenue was up 22.6% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.05 earnings per share. As a group, sell-side analysts anticipate that Coupang will post 0.03 earnings per share for the current fiscal year.

Insider Activity

In other news, Director Benjamin Sun sold 700,000 shares of the firm’s stock in a transaction dated Monday, June 17th. The shares were sold at an average price of $20.63, for a total transaction of $14,441,000.00. Following the sale, the director now owns 2,169,421 shares of the company’s stock, valued at approximately $44,755,155.23. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In related news, insider Pranam Kolari sold 2,048 shares of the firm’s stock in a transaction that occurred on Thursday, May 2nd. The shares were sold at an average price of $22.34, for a total value of $45,752.32. Following the transaction, the insider now owns 187,951 shares of the company’s stock, valued at $4,198,825.34. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Benjamin Sun sold 700,000 shares of the firm’s stock in a transaction that occurred on Monday, June 17th. The stock was sold at an average price of $20.63, for a total transaction of $14,441,000.00. Following the completion of the transaction, the director now directly owns 2,169,421 shares in the company, valued at approximately $44,755,155.23. The disclosure for this sale can be found here. Insiders have sold a total of 753,538 shares of company stock valued at $15,662,818 in the last 90 days. 13.60% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Coupang

Institutional investors and hedge funds have recently made changes to their positions in the business. Ameriprise Financial Inc. raised its stake in Coupang by 25.3% during the 3rd quarter. Ameriprise Financial Inc. now owns 3,054,223 shares of the company’s stock worth $51,922,000 after acquiring an additional 616,210 shares during the period. Bain Capital Public Equity Management II LLC bought a new stake in Coupang during the 4th quarter worth approximately $18,850,000. Twenty Acre Capital LP raised its stake in Coupang by 23.5% during the 4th quarter. Twenty Acre Capital LP now owns 505,914 shares of the company’s stock worth $8,191,000 after acquiring an additional 96,300 shares during the period. Nebula Research & Development LLC raised its stake in Coupang by 220.4% during the 4th quarter. Nebula Research & Development LLC now owns 98,140 shares of the company’s stock worth $1,589,000 after acquiring an additional 67,509 shares during the period. Finally, Kontiki Capital Management HK Ltd. raised its stake in Coupang by 3.5% during the 4th quarter. Kontiki Capital Management HK Ltd. now owns 8,533,568 shares of the company’s stock worth $138,158,000 after acquiring an additional 287,000 shares during the period. Hedge funds and other institutional investors own 83.72% of the company’s stock.

About Coupang

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.