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

Coupang (NYSE:CPNG) had its price objective lowered by research analysts at Citigroup from $31.00 to $28.00 in a research note issued on Wednesday,Benzinga reports. The brokerage currently has a “buy” rating on the stock. Citigroup’s price target points to a potential upside of 25.50% from the stock’s previous close.

Separately, Sanford C. Bernstein raised shares of Coupang from an “underperform” rating to an “outperform” rating and set a $30.00 price objective for the company in a research note on Monday, October 7th. One analyst has rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $27.56.

Coupang Price Performance

Shares of Coupang stock opened at $22.31 on Wednesday. Coupang has a 52 week low of $13.51 and a 52 week high of $26.91. The company has a current ratio of 1.13, a quick ratio of 0.86 and a debt-to-equity ratio of 0.28. The stock has a market cap of $40.13 billion, a PE ratio of 39.14, a price-to-earnings-growth ratio of 215.03 and a beta of 1.10. The company’s 50-day moving average price is $23.85 and its two-hundred day moving average price is $23.24.

Coupang (NYSE:CPNG) last released its earnings results on Tuesday, November 5th. The company reported $0.06 EPS for the quarter, beating the consensus estimate of $0.01 by $0.05. The business had revenue of $7.87 billion during the quarter, compared to analyst estimates of $7.76 billion. Coupang had a net margin of 3.57% and a return on equity of 11.52%. The business’s quarterly revenue was up 27.2% on a year-over-year basis. During the same period in the prior year, the business earned $0.05 earnings per share. As a group, sell-side analysts anticipate that Coupang will post 0.11 EPS for the current fiscal year.

Insider Buying and Selling

In other news, Director Greenoaks Capital Partners Llc purchased 687,700 shares of the stock in a transaction that occurred on Monday, November 11th. The stock was acquired at an average price of $24.08 per share, with a total value of $16,559,816.00. Following the purchase, the director now owns 52,726,423 shares in the company, valued at $1,269,652,265.84. This represents a 1.32 % increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Bom Kim sold 15,000,000 shares of Coupang stock in a transaction that occurred on Monday, November 11th. The shares were sold at an average price of $22.97, for a total transaction of $344,550,000.00. Following the completion of the sale, the chief executive officer now owns 2,000,000 shares of the company’s stock, valued at $45,940,000. This trade represents a 88.24 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 13.60% of the stock is currently owned by corporate insiders.

Institutional Trading of Coupang

Institutional investors and hedge funds have recently modified their holdings of the company. Brooklyn Investment Group bought a new position in shares of Coupang during the 3rd quarter worth about $28,000. Asset Dedication LLC lifted its stake in Coupang by 438.1% during the third quarter. Asset Dedication LLC now owns 1,216 shares of the company’s stock worth $30,000 after purchasing an additional 990 shares during the period. Van ECK Associates Corp grew its stake in shares of Coupang by 63.1% in the 3rd quarter. Van ECK Associates Corp now owns 1,251 shares of the company’s stock valued at $32,000 after purchasing an additional 484 shares during the period. Wolff Wiese Magana LLC boosted its stake in Coupang by 330.4% in the 3rd quarter. Wolff Wiese Magana LLC now owns 1,687 shares of the company’s stock valued at $41,000 after buying an additional 1,295 shares in the last quarter. Finally, Signaturefd LLC grew its position in Coupang by 438.9% in the third quarter. Signaturefd LLC now owns 2,371 shares of the company’s stock valued at $58,000 after acquiring an additional 1,931 shares during the period. 83.72% of the stock is currently owned by institutional investors and hedge funds.

Coupang Company Profile

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.