Barclays Forecasts Strong Price Appreciation for Coupang (NYSE:CPNG) Stock

Coupang (NYSE:CPNG) had its price objective upped by equities researchers at Barclays from $23.00 to $24.00 in a report issued on Monday,Benzinga reports. The brokerage currently has an “overweight” rating on the stock. Barclays‘s price target suggests a potential upside of 29.21% from the stock’s previous close.

Other equities analysts have also recently issued research reports about the stock. Deutsche Bank Aktiengesellschaft raised shares of Coupang from a “hold” rating to a “buy” rating and set a $25.00 price objective for the company in a research note on Friday, January 16th. Morgan Stanley cut their price target on shares of Coupang from $31.00 to $29.00 and set an “overweight” rating for the company in a research note on Monday. Sanford C. Bernstein reissued an “underperform” rating on shares of Coupang in a report on Monday. UBS Group set a $25.00 price objective on shares of Coupang in a report on Thursday, February 19th. Finally, Citigroup reduced their target price on Coupang from $27.00 to $24.00 and set a “buy” rating on the stock in a research note on Tuesday, February 10th. Six analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $26.70.

Coupang Stock Performance

Shares of CPNG stock traded down $0.51 during trading hours on Monday, hitting $18.58. 3,208,791 shares of the company were exchanged, compared to its average volume of 25,761,865. The firm has a fifty day simple moving average of $20.45 and a 200 day simple moving average of $26.38. Coupang has a 52-week low of $16.74 and a 52-week high of $34.08. The stock has a market capitalization of $33.93 billion, a price-to-earnings ratio of 154.60 and a beta of 1.20. The company has a current ratio of 1.04, a quick ratio of 0.79 and a debt-to-equity ratio of 0.14.

Coupang (NYSE:CPNG) last issued its earnings results on Thursday, February 26th. The company reported ($0.01) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.02 by ($0.03). The firm had revenue of $8.84 billion during the quarter, compared to the consensus estimate of $9.12 billion. Coupang had a net margin of 0.60% and a return on equity of 4.52%. The business’s quarterly revenue was up 10.9% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.04 earnings per share. Research analysts predict that Coupang will post 0.17 earnings per share for the current fiscal year.

Insiders Place Their Bets

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

Institutional Investors Weigh In On Coupang

Several hedge funds and other institutional investors have recently added to or reduced their stakes in CPNG. Dodge & Cox increased its stake in Coupang by 4.9% during the 4th quarter. Dodge & Cox now owns 49,233,320 shares of the company’s stock valued at $1,161,414,000 after purchasing an additional 2,285,600 shares in the last quarter. Capital International Investors increased its position in shares of Coupang by 20.4% during the fourth quarter. Capital International Investors now owns 41,131,036 shares of the company’s stock valued at $970,340,000 after acquiring an additional 6,977,942 shares in the last quarter. Vanguard Group Inc. increased its position in shares of Coupang by 3.3% during the fourth quarter. Vanguard Group Inc. now owns 29,547,637 shares of the company’s stock valued at $697,029,000 after acquiring an additional 951,812 shares in the last quarter. Tiger Global Management LLC raised its holdings in Coupang by 65.9% in the 4th quarter. Tiger Global Management LLC now owns 26,267,259 shares of the company’s stock worth $619,645,000 after acquiring an additional 10,429,680 shares during the last quarter. Finally, Durable Capital Partners LP lifted its position in Coupang by 0.4% in the 3rd quarter. Durable Capital Partners LP now owns 24,833,189 shares of the company’s stock valued at $799,629,000 after acquiring an additional 89,207 shares in the last quarter. 83.72% of the stock is owned by hedge funds and other institutional investors.

Coupang Company Profile

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.