Coupang (NYSE:CPNG) Rating Increased to Outperform at Sanford C. Bernstein

Sanford C. Bernstein upgraded shares of Coupang (NYSE:CPNG) from an underperform rating to an outperform rating in a research note released on Monday morning, Marketbeat Ratings reports. The firm currently has $30.00 price objective on the stock.

A number of other equities analysts have also recently commented on the company. CLSA upgraded Coupang from a hold rating to an outperform rating and raised their target price for the company from $18.00 to $31.00 in a report on Wednesday, September 4th. Morgan Stanley increased their price target on Coupang from $26.00 to $27.00 and gave the company an overweight rating in a research report on Wednesday, June 26th. One research analyst has rated the stock with a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of Moderate Buy and a consensus target price of $27.56.

Coupang Stock Performance

Shares of Coupang stock opened at $25.53 on Monday. The business has a 50-day moving average of $23.33 and a 200 day moving average of $21.96. Coupang has a 12 month low of $13.51 and a 12 month high of $26.28. The stock has a market capitalization of $45.65 billion, a price-to-earnings ratio of 36.47, a price-to-earnings-growth ratio of 181.74 and a beta of 1.11. The company has a debt-to-equity ratio of 0.72, a current ratio of 1.12 and a quick ratio of 0.87.

Coupang (NYSE:CPNG) last announced its earnings results on Tuesday, August 6th. The company reported $0.07 EPS for the quarter, beating analysts’ consensus estimates of ($0.01) by $0.08. Coupang had a return on equity of 12.04% and a net margin of 3.87%. The company had revenue of $7.32 billion during the quarter, compared to analysts’ expectations of $7.39 billion. During the same period last year, the business posted $0.08 EPS. Coupang’s revenue for the quarter was up 25.4% on a year-over-year basis. As a group, sell-side analysts forecast that Coupang will post 0.14 earnings per share for the current year.

Insider Transactions at Coupang

In other news, insider Pranam Kolari sold 10,432 shares of the firm’s stock in a transaction dated Friday, August 2nd. The stock was sold at an average price of $19.90, for a total transaction of $207,596.80. Following the sale, the insider now owns 170,356 shares of the company’s stock, valued at approximately $3,390,084.40. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, insider Pranam Kolari sold 10,432 shares of the firm’s stock in a transaction dated Friday, August 2nd. The stock was sold at an average price of $19.90, for a total transaction of $207,596.80. Following the sale, the insider now owns 170,356 shares of the company’s stock, valued at approximately $3,390,084.40. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Greenoaks Capital Partners Llc bought 100,000 shares of the business’s stock in a transaction dated Thursday, August 15th. The shares were acquired at an average cost of $22.39 per share, for a total transaction of $2,239,000.00. Following the transaction, the director now directly owns 50,376,224 shares in the company, valued at approximately $1,127,923,655.36. This represents a 0.00 % increase in their position. The disclosure for this purchase can be found here. In the last 90 days, insiders have acquired 601,300 shares of company stock valued at $13,604,354 and have sold 411,388 shares valued at $9,452,761. Corporate insiders own 13.60% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the company. Baader Bank Aktiengesellschaft increased its position in Coupang by 5.7% during the second quarter. Baader Bank Aktiengesellschaft now owns 10,567 shares of the company’s stock worth $219,000 after buying an additional 567 shares during the period. Resonant Capital Advisors LLC grew its stake in shares of Coupang by 6.0% in the 2nd quarter. Resonant Capital Advisors LLC now owns 11,197 shares of the company’s stock valued at $235,000 after purchasing an additional 635 shares during the last quarter. National Bank of Canada FI grew its stake in shares of Coupang by 15.4% in the 2nd quarter. National Bank of Canada FI now owns 6,687 shares of the company’s stock valued at $141,000 after purchasing an additional 890 shares during the last quarter. TCW Group Inc. grew its stake in shares of Coupang by 6.4% in the 2nd quarter. TCW Group Inc. now owns 16,781 shares of the company’s stock valued at $352,000 after purchasing an additional 1,007 shares during the last quarter. Finally, Private Advisor Group LLC grew its stake in shares of Coupang by 2.2% in the 1st quarter. Private Advisor Group LLC now owns 48,088 shares of the company’s stock valued at $855,000 after purchasing an additional 1,036 shares during the last quarter. Institutional investors and hedge funds own 83.72% of the company’s stock.

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.