Coupang (NYSE:CPNG – Get Rating) had its target price reduced by Mizuho from $22.00 to $20.00 in a research report issued to clients and investors on Thursday, MarketBeat reports. The brokerage currently has a "neutral" rating on the stock. Mizuho's price target indicates a potential upside of 4.49% from the company's current price.
A number of other equities analysts also recently commented on the company. HSBC initiated coverage on Coupang in a report on Friday, October 7th. They set a "buy" rating and a $27.80 target price for the company. Deutsche Bank Aktiengesellschaft lowered shares of Coupang from a "buy" rating to a "hold" rating and lifted their target price for the company from $15.00 to $18.50 in a research note on Thursday, August 11th. CLSA lowered shares of Coupang from an "outperform" rating to a "sell" rating and set a $16.40 price objective for the company. in a report on Tuesday, August 16th. Macquarie started coverage on Coupang in a report on Tuesday, August 9th. They set an "outperform" rating and a $26.00 target price on the stock. Finally, Morgan Stanley raised their target price on Coupang from $18.00 to $25.00 and gave the company an "overweight" rating in a research note on Monday, August 15th. One research analyst has rated the stock with a sell rating, two have given a hold rating and eight have given a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $22.37.
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Coupang Trading Down 4.2 %
Shares of CPNG opened at $19.14 on Thursday. Coupang has a twelve month low of $8.98 and a twelve month high of $30.65. The company has a debt-to-equity ratio of 0.29, a current ratio of 1.21 and a quick ratio of 0.87. The firm has a fifty day simple moving average of $17.39 and a two-hundred day simple moving average of $15.71.
Coupang (NYSE:CPNG – Get Rating) last posted its earnings results on Wednesday, August 10th. The company reported ($0.04) earnings per share for the quarter, topping analysts' consensus estimates of ($0.11) by $0.07. The company had revenue of $5.04 billion during the quarter, compared to analyst estimates of $5.22 billion. Coupang had a negative net
margin of 2.95% and a negative return on equity of 28.61%. Coupang's revenue for the quarter was up 12.5% on a year-over-year basis. During the same period in the prior year, the business posted ($0.13) earnings per share. As a group, equities analysts predict that Coupang will post -0.2 earnings per share for the current fiscal year.
Institutional Investors Weigh In On Coupang
Several hedge funds have recently added to or reduced their stakes in the stock. Eagle Bay Advisors LLC bought a new position in Coupang in the 2nd quarter worth about $26,000. Pinebridge Investments L.P. grew its holdings in shares of Coupang by 1,125.5% during the second quarter. Pinebridge Investments L.P. now owns 2,451 shares of the company's stock valued at $31,000 after buying an additional 2,251 shares during the last quarter. GPS Wealth Strategies Group LLC increased its position in shares of Coupang by 38.9% during the second quarter. GPS Wealth Strategies Group LLC now owns 2,500 shares of the company's stock valued at $32,000 after acquiring an additional 700 shares in the last quarter. Steward Partners Investment Advisory LLC raised its holdings in Coupang by 244.6% in the 1st quarter. Steward Partners Investment Advisory LLC now owns 2,240 shares of the company's stock worth $40,000 after acquiring an additional 1,590 shares during the last quarter. Finally, AdvisorNet Financial Inc lifted its position in Coupang by 2,615.5% in the 2nd quarter. AdvisorNet Financial Inc now owns 3,150 shares of the company's stock valued at $40,000 after acquiring an additional 3,034 shares in the last quarter. 71.59% of the stock is owned by institutional investors.
Coupang Company Profile
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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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