Bank of America Cuts Coupang (NYSE:CPNG) Price Target to $27.00

Coupang (NYSE:CPNG) had its price target reduced by research analysts at Bank of America from $28.00 to $27.00 in a report issued on Wednesday,MarketScreener reports. Bank of America‘s price target points to a potential upside of 52.58% from the stock’s previous close.

A number of other equities analysts have also recently issued reports on CPNG. CLSA assumed coverage on shares of Coupang in a research report on Monday, June 15th. They set an “outperform” rating and a $24.00 price objective for the company. Weiss Ratings lowered shares of Coupang from a “sell (d+)” rating to a “sell (d)” rating in a report on Thursday, May 7th. Citigroup cut shares of Coupang from a “buy” rating to a “neutral” rating and reduced their price objective for the stock from $23.00 to $22.20 in a research note on Wednesday, May 6th. Nomura decreased their price objective on Coupang from $22.00 to $20.00 and set a “neutral” rating for the company in a report on Monday, March 2nd. Finally, Sanford C. Bernstein reaffirmed an “underperform” rating on shares of Coupang in a report on Monday, March 2nd. Five investment analysts have rated the stock with a Buy rating, five have given a Hold rating and two have assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, Coupang has an average rating of “Hold” and an average target price of $25.65.

Coupang Stock Performance

NYSE:CPNG opened at $17.70 on Wednesday. The stock has a fifty day moving average price of $17.80 and a 200-day moving average price of $19.64. The company has a market cap of $31.77 billion, a price-to-earnings ratio of -196.83 and a beta of 1.13. The company has a debt-to-equity ratio of 0.16, a quick ratio of 0.76 and a current ratio of 0.97. Coupang has a fifty-two week low of $14.92 and a fifty-two week high of $34.08.

Coupang (NYSE:CPNG) last posted its quarterly earnings results on Tuesday, May 5th. The company reported ($0.15) EPS for the quarter, missing analysts’ consensus estimates of ($0.09) by ($0.06). Coupang had a negative net margin of 0.47% and a negative return on equity of 3.67%. The company had revenue of $8.50 billion during the quarter, compared to analyst estimates of $8.48 billion. During the same period last year, the firm earned $0.06 EPS. The firm’s revenue for the quarter was up 7.5% compared to the same quarter last year. As a group, equities analysts anticipate that Coupang will post -0.17 EPS for the current fiscal year.

Institutional Trading of Coupang

A number of institutional investors have recently modified their holdings of CPNG. Vanguard Group Inc. grew its position in shares of Coupang by 3.3% in the 4th quarter. Vanguard Group Inc. now owns 29,547,637 shares of the company’s stock worth $697,029,000 after buying an additional 951,812 shares during the period. Ethic Inc. increased its stake in shares of Coupang by 383.2% during the fourth quarter. Ethic Inc. now owns 126,154 shares of the company’s stock valued at $2,976,000 after purchasing an additional 100,047 shares in the last quarter. William Blair Investment Management LLC lifted its holdings in shares of Coupang by 114.6% during the third quarter. William Blair Investment Management LLC now owns 2,205,332 shares of the company’s stock valued at $71,012,000 after purchasing an additional 1,177,875 shares during the last quarter. Gavilan Investment Partners LLC lifted its holdings in shares of Coupang by 9.5% during the third quarter. Gavilan Investment Partners LLC now owns 1,265,000 shares of the company’s stock valued at $40,733,000 after purchasing an additional 110,000 shares during the last quarter. Finally, Bank of Nova Scotia boosted its position in shares of Coupang by 333.6% in the 3rd quarter. Bank of Nova Scotia now owns 879,000 shares of the company’s stock worth $28,304,000 after purchasing an additional 676,300 shares in the last quarter. 83.72% of the stock is currently owned by hedge funds and other institutional investors.

About Coupang

Coupang, listed on the New York Stock Exchange under the ticker CPNG, is a South Korean e-commerce company headquartered in Seoul. Founded in 2010 by Bom Kim, the company grew rapidly by combining an online marketplace with a large direct-retail business model. Coupang completed a primary listing in the United States in 2021, and it has become one of South Korea’s leading online retailers by focusing on convenience, speed and a wide product assortment across consumer categories.

The company operates a vertically integrated e-commerce platform that includes a customer-facing marketplace and an extensive logistics and fulfillment network.