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

Coupang (NYSE:CPNG) had its price objective dropped by equities researchers at Morgan Stanley from $31.00 to $29.00 in a report issued on Monday,MarketScreener reports. The firm currently has an “overweight” rating on the stock. Morgan Stanley’s price objective would suggest a potential upside of 58.41% from the stock’s previous close.

Several other research analysts have also recently commented on the stock. UBS Group set a $25.00 target price on shares of Coupang in a report on Thursday, February 19th. Nomura downgraded Coupang from a “buy” rating to a “neutral” rating and set a $22.00 price target for the company. in a report on Monday, January 12th. Weiss Ratings restated a “hold (c)” rating on shares of Coupang in a report on Wednesday, January 21st. Bank of America upped their price target on shares of Coupang from $36.00 to $38.00 and gave the company a “buy” rating in a research note on Wednesday, November 5th. Finally, Barclays decreased their price target on Coupang from $40.00 to $23.00 and set an “overweight” rating on the stock in a research report on Thursday, February 19th. Six equities research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the company has a consensus rating of “Hold” and an average price target of $26.70.

Coupang Price Performance

Shares of CPNG stock opened at $18.31 on Monday. The firm has a market capitalization of $33.44 billion, a price-to-earnings ratio of 152.66 and a beta of 1.20. Coupang has a 12-month low of $16.74 and a 12-month high of $34.08. The company has a quick ratio of 0.79, a current ratio of 1.04 and a debt-to-equity ratio of 0.14. The firm has a fifty day moving average of $20.45 and a 200-day moving average of $26.38.

Coupang (NYSE:CPNG) last posted its earnings results on Thursday, February 26th. The company reported ($0.01) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.02 by ($0.03). Coupang had a net margin of 0.60% and a return on equity of 4.52%. The business had revenue of $8.84 billion during the quarter, compared to analyst estimates of $9.12 billion. During the same period in the previous year, the firm posted $0.04 earnings per share. The firm’s revenue was up 10.9% on a year-over-year basis. On average, equities research analysts forecast that Coupang will post 0.17 earnings per share for the current year.

Insiders Place Their Bets

In other Coupang news, CAO Jonathan D. Lee sold 2,679 shares of Coupang stock in a transaction dated Friday, January 2nd. The stock was sold at an average price of $23.62, for a total transaction of $63,277.98. Following the completion of the transaction, the chief accounting officer owned 122,096 shares in the company, valued at approximately $2,883,907.52. The trade was a 2.15% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 12.78% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the company. World Investment Advisors bought a new position in Coupang in the 2nd quarter valued at $357,000. Keybank National Association OH lifted its holdings in Coupang by 13.4% in the 2nd quarter. Keybank National Association OH now owns 22,669 shares of the company’s stock worth $679,000 after buying an additional 2,673 shares during the period. Assetmark Inc. boosted its stake in shares of Coupang by 481.8% during the 2nd quarter. Assetmark Inc. now owns 5,463 shares of the company’s stock valued at $164,000 after purchasing an additional 4,524 shares in the last quarter. Amalgamated Bank raised its holdings in Coupang by 19.3% in the second quarter. Amalgamated Bank now owns 98,306 shares of the company’s stock worth $2,945,000 after purchasing an additional 15,879 shares in the last quarter. Finally, Simon Quick Advisors LLC purchased a new position in shares of Coupang during the second quarter valued at approximately $210,000. Hedge funds and other institutional investors 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.