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

Coupang (NYSE:CPNG) had its target price hoisted by equities research analysts at Mizuho from $25.00 to $27.00 in a research report issued to clients and investors on Wednesday,Benzinga reports. The firm currently has a “neutral” rating on the stock. Mizuho’s price objective suggests a potential upside of 13.69% from the stock’s current price.

CPNG has been the subject of a number of other research reports. Citigroup cut their price target on Coupang from $31.00 to $28.00 and set a “buy” rating for the company in a research note on Wednesday, January 8th. Deutsche Bank Aktiengesellschaft upgraded shares of Coupang from a “hold” rating to a “buy” rating and set a $28.50 target price for the company in a research note on Wednesday. Finally, Barclays raised their price target on shares of Coupang from $32.00 to $34.00 and gave the company an “overweight” rating in a research report on Wednesday, February 12th. One equities research 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 a consensus rating of “Moderate Buy” and a consensus price target of $29.17.

Coupang Stock Performance

NYSE CPNG opened at $23.75 on Wednesday. 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 company has a fifty day simple moving average of $23.20 and a 200 day simple moving average of $23.87. Coupang has a 12-month low of $17.32 and a 12-month high of $26.91. The company has a market cap of $42.72 billion, a P/E ratio of 41.67, a PEG ratio of 52.20 and a beta of 1.11.

Insider Buying and Selling

In other Coupang news, VP Pranam Kolari sold 8,459 shares of the business’s stock in a transaction dated Monday, February 3rd. The shares were sold at an average price of $22.98, for a total value of $194,387.82. Following the transaction, the vice president now directly owns 136,806 shares in the company, valued at $3,143,801.88. The trade was a 5.82 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 13.60% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Coupang

A number of hedge funds have recently modified their holdings of the stock. Creative Planning grew its stake in shares of Coupang by 27.6% during the 3rd quarter. Creative Planning now owns 14,407 shares of the company’s stock worth $354,000 after acquiring an additional 3,117 shares during the period. Raymond James & Associates boosted its position in Coupang by 33.8% during the third quarter. Raymond James & Associates now owns 157,963 shares of the company’s stock worth $3,878,000 after purchasing an additional 39,938 shares during the period. Signaturefd LLC increased its stake in shares of Coupang by 438.9% in the third quarter. Signaturefd LLC now owns 2,371 shares of the company’s stock worth $58,000 after purchasing an additional 1,931 shares in the last quarter. Private Advisor Group LLC increased its stake in shares of Coupang by 7.3% in the third quarter. Private Advisor Group LLC now owns 59,298 shares of the company’s stock worth $1,456,000 after purchasing an additional 4,036 shares in the last quarter. Finally, Autumn Glory Partners LLC bought a new stake in shares of Coupang in the third quarter valued at approximately $320,000. Institutional investors own 83.72% of the company’s stock.

About Coupang

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.