Coupang (NYSE:CPNG) Shares Gap Up – What’s Next?

Coupang, Inc. (NYSE:CPNG) shares gapped up prior to trading on Friday . The stock had previously closed at $22.80, but opened at $24.87. Coupang shares last traded at $24.8780, with a volume of 6,680,513 shares trading hands.

Analysts Set New Price Targets

A number of analysts recently weighed in on CPNG shares. Bank of America upped their price target on shares of Coupang from $36.00 to $38.00 and gave the stock a “buy” rating in a research report on Wednesday, November 5th. Mizuho upped their target price on shares of Coupang from $30.00 to $32.00 and gave the stock a “neutral” rating in a research report on Thursday, November 6th. Nomura cut their price target on Coupang from $38.00 to $30.00 and set a “buy” rating on the stock in a report on Wednesday, December 17th. Arete Research assumed coverage on Coupang in a report on Thursday, September 18th. They issued a “buy” rating and a $40.00 price objective for the company. Finally, Weiss Ratings restated a “hold (c)” rating on shares of Coupang in a research report on Wednesday, October 8th. One equities research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and four have issued a Hold rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $33.25.

Coupang Trading Up 9.4%

The business has a 50 day simple moving average of $27.82 and a 200-day simple moving average of $29.37. The stock has a market capitalization of $45.56 billion, a P/E ratio of 118.78 and a beta of 1.18. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.82 and a current ratio of 1.06.

Coupang (NYSE:CPNG) last posted its quarterly earnings results on Tuesday, November 4th. The company reported $0.05 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.04 by $0.01. The company had revenue of $9.27 billion for the quarter, compared to analysts’ expectations of $9.13 billion. Coupang had a return on equity of 6.95% and a net margin of 1.16%.The firm’s revenue was up 17.8% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.06 earnings per share. On average, analysts predict that Coupang, Inc. will post 0.17 EPS for the current year.

Insider Transactions at Coupang

In other Coupang news, VP Pranam Kolari sold 11,653 shares of the company’s stock in a transaction dated Monday, November 3rd. The shares were sold at an average price of $31.98, for a total transaction of $372,662.94. Following the completion of the sale, the vice president directly owned 147,023 shares of the company’s stock, valued at approximately $4,701,795.54. This represents a 7.34% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 12.78% of the company’s stock.

Hedge Funds Weigh In On Coupang

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Sumitomo Mitsui DS Asset Management Company Ltd raised its stake in Coupang by 4.6% during the 3rd quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 7,436 shares of the company’s stock valued at $239,000 after purchasing an additional 330 shares during the period. California State Teachers Retirement System grew its position in Coupang by 0.5% during the third quarter. California State Teachers Retirement System now owns 78,679 shares of the company’s stock valued at $2,533,000 after purchasing an additional 361 shares in the last quarter. Sequoia Financial Advisors LLC raised its holdings in shares of Coupang by 0.5% during the second quarter. Sequoia Financial Advisors LLC now owns 68,468 shares of the company’s stock worth $2,051,000 after acquiring an additional 363 shares in the last quarter. CIBC Asset Management Inc grew its stake in shares of Coupang by 0.6% in the 3rd quarter. CIBC Asset Management Inc now owns 65,029 shares of the company’s stock valued at $2,094,000 after buying an additional 364 shares in the last quarter. Finally, Resonant Capital Advisors LLC grew its position in Coupang by 2.9% in the third quarter. Resonant Capital Advisors LLC now owns 13,088 shares of the company’s stock worth $421,000 after acquiring an additional 374 shares in the last quarter. Institutional investors and hedge funds own 83.72% of the company’s stock.

About Coupang

Coupang, listed on the New York Stock Exchange under the ticker CPNG, is a South Korean e-commerce company headquartered in Seoul. Founded in 2010 by Bom Kim, the company grew rapidly by combining an online marketplace with a large direct-retail business model. Coupang completed a primary listing in the United States in 2021, and it has become one of South Korea’s leading online retailers by focusing on convenience, speed and a wide product assortment across consumer categories.

The company operates a vertically integrated e-commerce platform that includes a customer-facing marketplace and an extensive logistics and fulfillment network.