Coupang (NYSE:CPNG) Upgraded to Outperform by Credit Suisse Group

Credit Suisse Group upgraded shares of Coupang (NYSE:CPNGGet Rating) from a neutral rating to an outperform rating in a research note published on Thursday morning, Marketbeat Ratings reports. The firm currently has $19.00 price objective on the stock, down from their prior price objective of $28.00.

CPNG has been the subject of a number of other research reports. Deutsche Bank Aktiengesellschaft raised shares of Coupang from a hold rating to a buy rating in a research report on Tuesday, March 22nd. Citigroup increased their target price on shares of Coupang to $17.00 in a research report on Thursday, June 9th. Morgan Stanley assumed coverage on shares of Coupang in a research report on Wednesday, June 29th. They set an overweight rating and a $18.00 target price for the company. JPMorgan Chase & Co. raised shares of Coupang from a neutral rating to an overweight rating and dropped their target price for the stock from $25.00 to $17.00 in a research report on Friday, May 6th. Finally, Mizuho dropped their target price on shares of Coupang from $28.00 to $18.00 in a research report on Thursday, May 12th. One investment analyst has rated the stock with a hold rating and eight have given a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of Moderate Buy and an average price target of $27.25.

Shares of CPNG stock opened at $15.04 on Thursday. The firm has a market cap of $26.51 billion, a P/E ratio of -17.90 and a beta of 0.58. Coupang has a 1-year low of $8.98 and a 1-year high of $46.00. The company has a debt-to-equity ratio of 0.30, a current ratio of 1.22 and a quick ratio of 0.91. The firm’s 50-day simple moving average is $12.60 and its 200-day simple moving average is $18.42.

Coupang (NYSE:CPNGGet Rating) last announced its quarterly earnings data on Wednesday, May 11th. The company reported ($0.12) earnings per share for the quarter, topping the consensus estimate of ($0.65) by $0.53. Coupang had a negative net margin of 7.54% and a negative return on equity of 48.47%. During the same quarter last year, the company posted ($0.68) EPS. Analysts expect that Coupang will post -0.43 earnings per share for the current fiscal year.

In other news, CAO Michael Parker sold 72,891 shares of the firm’s stock in a transaction that occurred on Monday, May 16th. The shares were sold at an average price of $13.00, for a total transaction of $947,583.00. Following the completion of the sale, the chief accounting officer now owns 38,575 shares of the company’s stock, valued at $501,475. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Kevin M. Warsh purchased 38,372 shares of the firm’s stock in a transaction dated Tuesday, May 17th. The shares were bought at an average cost of $13.14 per share, with a total value of $504,208.08. Following the transaction, the director now directly owns 359,034 shares of the company’s stock, valued at approximately $4,717,706.76. The disclosure for this purchase can be found here.

Several hedge funds have recently added to or reduced their stakes in the company. Sumitomo Mitsui Trust Holdings Inc. lifted its stake in Coupang by 2.4% during the fourth quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 28,332 shares of the company’s stock worth $832,000 after purchasing an additional 665 shares during the last quarter. Spire Wealth Management lifted its stake in Coupang by 151.5% during the fourth quarter. Spire Wealth Management now owns 1,250 shares of the company’s stock worth $37,000 after purchasing an additional 753 shares during the last quarter. Commonwealth Equity Services LLC lifted its stake in Coupang by 1.0% during the first quarter. Commonwealth Equity Services LLC now owns 81,235 shares of the company’s stock worth $1,436,000 after purchasing an additional 818 shares during the last quarter. Industrial Alliance Investment Management Inc. bought a new position in Coupang during the fourth quarter worth $28,000. Finally, Foresight Wealth Management LLC lifted its stake in Coupang by 5.8% during the fourth quarter. Foresight Wealth Management LLC now owns 15,188 shares of the company’s stock worth $446,000 after purchasing an additional 836 shares during the last quarter. 73.49% of the stock is owned by institutional investors and hedge funds.

Coupang Company Profile (Get Rating)

Coupang, Inc owns and operates in e-commerce business through its mobile applications and Internet websites primarily in South Korea. It operates through two segments, Product Commerce and Growth Initiatives. The company 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.

Further Reading

Analyst Recommendations for Coupang (NYSE:CPNG)

Receive News & Ratings for Coupang Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Coupang and related companies with MarketBeat.com's FREE daily email newsletter.