Zacks Investment Research Upgrades Coupang (NYSE:CPNG) to “Hold”
Coupang (NYSE:CPNG – Get Rating) was upgraded by Zacks Investment Research from a “strong sell” rating to a “hold” rating in a research note issued on Tuesday, Zacks.com reports.
According to Zacks, “Coupang, Inc. owns and operates in e-commerce business through its mobile applications and Internet websites primarily in South Korea. It sells products and services in the categories of home goods and dÃcor products, apparel, beauty products, fresh food and groceries, sporting goods, electronics and everyday consumables, as well as travel and restaurant order and delivery services. Coupang, Inc. is based in Seoul, South Korea. “
Other analysts have also recently issued reports about the stock. UBS Group upgraded shares of Coupang from a “neutral” rating to a “buy” rating in a report on Wednesday, March 9th. Mizuho reduced their target price on shares of Coupang from $32.00 to $28.00 and set a “neutral” rating for the company in a research note on Thursday, March 3rd. The Goldman Sachs Group reiterated a “buy” rating and issued a $37.00 target price on shares of Coupang in a research note on Friday, April 8th. Finally, Deutsche Bank Aktiengesellschaft upgraded shares of Coupang from a “hold” rating to a “buy” rating in a research note on Tuesday, March 22nd. Four equities research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat.com, Coupang currently has a consensus rating of “Buy” and an average price target of $38.00.
Shares of CPNG stock traded down $1.07 during trading on Tuesday, hitting $13.19. 8,158,753 shares of the company were exchanged, compared to its average volume of 11,084,737. The company has a debt-to-equity ratio of 0.68, a quick ratio of 0.89 and a current ratio of 1.19. The firm has a market capitalization of $23.16 billion and a price-to-earnings ratio of -9.42. The business’s 50-day simple moving average is $19.22 and its 200 day simple moving average is $23.67. Coupang has a twelve month low of $13.15 and a twelve month high of $46.22.
Coupang (NYSE:CPNG – Get Rating) last posted its quarterly earnings results on Wednesday, March 2nd. The company reported ($0.23) EPS for the quarter, missing the consensus estimate of ($0.20) by ($0.03). The company had revenue of $5.08 billion for the quarter, compared to analyst estimates of $5.18 billion. Coupang had a negative return on equity of 46.10% and a negative net margin of 8.38%. The business’s quarterly revenue was up 33.5% compared to the same quarter last year. On average, equities analysts forecast that Coupang will post -0.55 earnings per share for the current fiscal year.
In other news, major shareholder Svf Investments (Uk) Ltd sold 50,000,000 shares of the business’s stock in a transaction on Wednesday, March 9th. The shares were sold at an average price of $20.87, for a total value of $1,043,500,000.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CTO Thuan Pham sold 119,990 shares of the business’s stock in a transaction on Monday, April 4th. The stock was sold at an average price of $18.98, for a total transaction of $2,277,410.20. Following the transaction, the chief technology officer now directly owns 2,678,978 shares in the company, valued at approximately $50,847,002.44. The disclosure for this sale can be found here.
A number of hedge funds have recently made changes to their positions in CPNG. Zullo Investment Group Inc. bought a new position in Coupang during the fourth quarter worth $27,000. Industrial Alliance Investment Management Inc. bought a new position in Coupang during the fourth quarter worth $28,000. Harbor Investment Advisory LLC increased its position in Coupang by 14,350.0% during the first quarter. Harbor Investment Advisory LLC now owns 1,734 shares of the company’s stock worth $31,000 after acquiring an additional 1,722 shares during the period. Montag A & Associates Inc. increased its position in Coupang by 49.4% during the third quarter. Montag A & Associates Inc. now owns 1,243 shares of the company’s stock worth $35,000 after acquiring an additional 411 shares during the period. Finally, Spire Wealth Management increased its position 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 acquiring an additional 753 shares during the period. 71.71% of the stock is currently 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.
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