Coupang (NYSE:CPNG - Get Free Report) was upgraded by research analysts at Sanford C. Bernstein from an "underperform" rating to an "outperform" rating in a research report issued on Monday, Marketbeat.com reports. The firm currently has a $30.00 target price on the stock. Sanford C. Bernstein's price target would suggest a potential upside of 22.00% from the stock's previous close.
Several other research firms have also issued reports on CPNG. Morgan Stanley increased their target price on shares of Coupang from $26.00 to $27.00 and gave the stock an "overweight" rating in a research note on Wednesday, June 26th. CLSA raised shares of Coupang from a "hold" rating to an "outperform" rating and increased their target price for the stock from $18.00 to $31.00 in a research note on Wednesday, September 4th. One research analyst has rated the stock with a hold rating and eight have given a buy rating to the stock. According to MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $27.56.
Get Our Latest Research Report on Coupang
Shares of CPNG opened at $24.59 on Monday. The business's 50-day moving average is $22.91 and its two-hundred day moving average is $21.78. The company has a market capitalization of $43.97 billion, a P/E ratio of 35.13, a P/E/G ratio of 181.74 and a beta of 1.11. The company has a debt-to-equity ratio of 0.72, a quick ratio of 0.87 and a current ratio of 1.12. Coupang has a fifty-two week low of $13.51 and a fifty-two week high of $25.19.
Coupang (NYSE:CPNG - Get Free Report) last announced its quarterly earnings results on Tuesday, August 6th. The company reported $0.07 earnings per share for the quarter, topping the consensus estimate of ($0.01) by $0.08. The company had revenue of $7.32 billion for the quarter, compared to the consensus estimate of $7.39 billion. Coupang had a return on equity of 12.04% and a net margin of 3.87%. The firm's revenue for the quarter was up 25.4% compared to the same quarter last year. During the same period last year, the firm earned $0.08 EPS. Research analysts predict that Coupang will post 0.14 earnings per share for the current year.
In other Coupang news, insider Pranam Kolari sold 10,432 shares of the firm's stock in a transaction that occurred on Friday, August 2nd. The shares were sold at an average price of $19.90, for a total value of $207,596.80. Following the transaction, the insider now directly owns 170,356 shares of the company's stock, valued at $3,390,084.40. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In other Coupang news, insider Pranam Kolari sold 10,432 shares of the firm's stock in a transaction that occurred on Friday, August 2nd. The shares were sold at an average price of $19.90, for a total value of $207,596.80. Following the transaction, the insider now directly owns 170,356 shares of the company's stock, valued at $3,390,084.40. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Greenoaks Capital Partners Llc bought 150,000 shares of the firm's stock in a transaction on Friday, August 9th. The stock was acquired at an average cost of $22.64 per share, for a total transaction of $3,396,000.00. Following the completion of the purchase, the director now directly owns 49,874,924 shares in the company, valued at approximately $1,129,168,279.36. This represents a 0.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last three months, insiders have purchased 601,300 shares of company stock valued at $13,604,354 and have sold 411,388 shares valued at $9,452,761. 13.60% of the stock is currently owned by corporate insiders.
A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Handelsbanken Fonder AB increased its holdings in Coupang by 2.9% in the 3rd quarter. Handelsbanken Fonder AB now owns 884,144 shares of the company's stock valued at $21,706,000 after purchasing an additional 24,553 shares during the last quarter. SG Americas Securities LLC increased its holdings in Coupang by 322.3% in the 3rd quarter. SG Americas Securities LLC now owns 35,359 shares of the company's stock valued at $868,000 after purchasing an additional 26,986 shares during the last quarter. American Trust acquired a new stake in Coupang in the 2nd quarter valued at approximately $207,000. Sanctuary Advisors LLC acquired a new stake in Coupang in the 2nd quarter valued at approximately $243,000. Finally, Cetera Investment Advisers increased its holdings in Coupang by 122.7% in the 2nd quarter. Cetera Investment Advisers now owns 65,332 shares of the company's stock valued at $1,369,000 after purchasing an additional 35,992 shares during the last quarter. Institutional investors and hedge funds own 83.72% of the company's stock.
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.
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