Citigroup Issues Pessimistic Forecast for Coupang (NYSE:CPNG) Stock Price

Coupang (NYSE:CPNG) had its price objective trimmed by Citigroup from $31.00 to $28.00 in a research report report published on Wednesday,Benzinga reports. The brokerage currently has a buy rating on the stock.

Separately, Sanford C. Bernstein raised shares of Coupang from an “underperform” rating to an “outperform” rating and set a $30.00 price objective on the stock in a research report on Monday, October 7th. One equities research analyst has rated the stock with a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $27.56.

Coupang Stock Performance

Coupang stock opened at $22.31 on Wednesday. Coupang has a fifty-two week low of $13.51 and a fifty-two week high of $26.91. The firm’s 50 day simple moving average is $23.92 and its 200-day simple moving average is $23.25. The company has a debt-to-equity ratio of 0.28, a current ratio of 1.13 and a quick ratio of 0.86. The company has a market cap of $40.13 billion, a P/E ratio of 39.14, a price-to-earnings-growth ratio of 215.03 and a beta of 1.10.

Coupang (NYSE:CPNG) last posted its quarterly earnings data on Tuesday, November 5th. The company reported $0.06 earnings per share for the quarter, topping the consensus estimate of $0.01 by $0.05. The firm had revenue of $7.87 billion for the quarter, compared to analysts’ expectations of $7.76 billion. Coupang had a net margin of 3.57% and a return on equity of 11.52%. The company’s quarterly revenue was up 27.2% compared to the same quarter last year. During the same period in the previous year, the company posted $0.05 EPS. As a group, equities research analysts predict that Coupang will post 0.11 EPS for the current year.

Insiders Place Their Bets

In other Coupang news, Director Greenoaks Capital Partners Llc acquired 687,700 shares of the company’s stock in a transaction dated Monday, November 11th. The shares were acquired at an average cost of $24.08 per share, for a total transaction of $16,559,816.00. Following the completion of the purchase, the director now owns 52,726,423 shares of the company’s stock, valued at approximately $1,269,652,265.84. This trade represents a 1.32 % increase in their position. The purchase was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CEO Bom Kim sold 15,000,000 shares of the stock in a transaction that occurred on Monday, November 11th. The shares were sold at an average price of $22.97, for a total value of $344,550,000.00. Following the sale, the chief executive officer now owns 2,000,000 shares of the company’s stock, valued at approximately $45,940,000. The trade was a 88.24 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 13.60% of the company’s stock.

Hedge Funds Weigh In On Coupang

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Handelsbanken Fonder AB grew its holdings in shares of Coupang by 2.9% during the 3rd quarter. Handelsbanken Fonder AB now owns 884,144 shares of the company’s stock worth $21,706,000 after purchasing an additional 24,553 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its stake in Coupang by 22.3% during the third quarter. Charles Schwab Investment Management Inc. now owns 759,286 shares of the company’s stock worth $18,640,000 after buying an additional 138,416 shares in the last quarter. abrdn plc increased its holdings in Coupang by 40.2% in the 3rd quarter. abrdn plc now owns 202,359 shares of the company’s stock valued at $4,968,000 after buying an additional 58,060 shares during the period. Plotkin Financial Advisors LLC bought a new stake in Coupang in the 3rd quarter valued at $491,000. Finally, Coronation Fund Managers Ltd. raised its stake in shares of Coupang by 139.1% in the 3rd quarter. Coronation Fund Managers Ltd. now owns 4,817,030 shares of the company’s stock valued at $118,258,000 after buying an additional 2,802,325 shares in the last quarter. 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.