Coupang (NYSE:CPNG) Price Target Cut to $27.00 by Analysts at Bank of America

Coupang (NYSE:CPNG) had its target price cut by equities researchers at Bank of America from $28.00 to $27.00 in a research report issued on Wednesday,MarketScreener reports. Bank of America‘s target price suggests a potential upside of 52.58% from the stock’s current price.

A number of other equities analysts also recently weighed in on CPNG. Nomura reduced their price target on Coupang from $22.00 to $20.00 and set a “neutral” rating for the company in a research report on Monday, March 2nd. Deutsche Bank Aktiengesellschaft downgraded shares of Coupang from a “buy” rating to a “hold” rating and set a $23.00 price objective on the stock. in a report on Wednesday, May 6th. Weiss Ratings cut shares of Coupang from a “sell (d+)” rating to a “sell (d)” rating in a report on Thursday, May 7th. CLSA started coverage on shares of Coupang in a research report on Monday, June 15th. They issued an “outperform” rating and a $24.00 target price for the company. Finally, Sanford C. Bernstein restated an “underperform” rating on shares of Coupang in a research note on Monday, March 2nd. Five analysts have rated the stock with a Buy rating, five have assigned a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat.com, Coupang presently has a consensus rating of “Hold” and a consensus target price of $25.65.

Coupang Stock Up 1.1%

Coupang stock opened at $17.70 on Wednesday. The company has a 50 day moving average of $17.80 and a 200-day moving average of $19.64. The company has a quick ratio of 0.76, a current ratio of 0.97 and a debt-to-equity ratio of 0.16. Coupang has a twelve month low of $14.92 and a twelve month high of $34.08. The stock has a market capitalization of $31.77 billion, a PE ratio of -196.83 and a beta of 1.13.

Coupang (NYSE:CPNG) last released its quarterly earnings results on Tuesday, May 5th. The company reported ($0.15) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.09) by ($0.06). The firm had revenue of $8.50 billion during the quarter, compared to analyst estimates of $8.48 billion. Coupang had a negative net margin of 0.47% and a negative return on equity of 3.67%. The business’s revenue for the quarter was up 7.5% compared to the same quarter last year. During the same period in the prior year, the business earned $0.06 EPS. On average, equities research analysts anticipate that Coupang will post -0.17 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in CPNG. EverSource Wealth Advisors LLC increased its position in Coupang by 72.6% during the second quarter. EverSource Wealth Advisors LLC now owns 3,316 shares of the company’s stock worth $99,000 after acquiring an additional 1,395 shares during the period. Baird Financial Group Inc. boosted its holdings in Coupang by 52.8% in the 2nd quarter. Baird Financial Group Inc. now owns 23,471 shares of the company’s stock valued at $703,000 after purchasing an additional 8,107 shares during the period. Cerity Partners LLC grew its position in shares of Coupang by 48.1% during the 2nd quarter. Cerity Partners LLC now owns 45,252 shares of the company’s stock worth $1,356,000 after purchasing an additional 14,703 shares in the last quarter. State Street Corp increased its holdings in shares of Coupang by 8.4% during the second quarter. State Street Corp now owns 15,641,775 shares of the company’s stock worth $468,628,000 after purchasing an additional 1,210,801 shares during the period. Finally, AXA S.A. bought a new position in shares of Coupang during the second quarter worth approximately $411,000. Institutional investors own 83.72% of the company’s stock.

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.