Janney Montgomery Scott LLC Takes $9.49 Million Position in Coupang, Inc. $CPNG

Janney Montgomery Scott LLC acquired a new stake in shares of Coupang, Inc. (NYSE:CPNG) during the 1st quarter, HoldingsChannel reports. The institutional investor acquired 502,649 shares of the company’s stock, valued at approximately $9,490,000.

A number of other large investors also recently bought and sold shares of CPNG. Sunbelt Securities Inc. bought a new stake in Coupang during the 3rd quarter valued at $26,000. Reflection Asset Management purchased a new position in shares of Coupang in the 4th quarter valued at $28,000. Webster Bank N. A. raised its position in shares of Coupang by 325.8% in the 1st quarter. Webster Bank N. A. now owns 1,699 shares of the company’s stock worth $32,000 after acquiring an additional 1,300 shares in the last quarter. Aster Capital Management DIFC Ltd bought a new position in shares of Coupang in the 4th quarter worth $42,000. Finally, EFG International AG purchased a new stake in shares of Coupang during the 4th quarter worth $44,000. Institutional investors own 83.72% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on CPNG shares. Barclays raised their price objective on Coupang from $24.00 to $30.00 and gave the company an “overweight” rating in a research report on Thursday, April 23rd. Deutsche Bank Aktiengesellschaft lowered shares of Coupang from a “buy” rating to a “hold” rating and set a $23.00 price target for the company. in a research report on Wednesday, May 6th. Wall Street Zen cut shares of Coupang from a “hold” rating to a “strong sell” rating in a report on Saturday, March 14th. Bank of America cut their price objective on shares of Coupang from $28.00 to $27.00 and set a “buy” rating on the stock in a research report on Wednesday, June 24th. Finally, CLSA started coverage on shares of Coupang in a research note on Monday, June 15th. They set an “outperform” rating and a $24.00 price objective for the company. Five analysts have rated the stock with a Buy rating, five have assigned a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $25.65.

Coupang Stock Up 2.3%

Coupang stock opened at $18.54 on Friday. Coupang, Inc. has a 1-year low of $14.92 and a 1-year high of $34.08. The business has a fifty day moving average price of $17.33 and a 200-day moving average price of $19.21. The company has a debt-to-equity ratio of 0.16, a current ratio of 0.97 and a quick ratio of 0.76. The stock has a market capitalization of $33.28 billion, a price-to-earnings ratio of -205.99 and a beta of 1.11.

Coupang (NYSE:CPNG) last announced its earnings results on Tuesday, May 5th. The company reported ($0.15) earnings per share (EPS) for the quarter, missing the consensus estimate 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 business had revenue of $8.50 billion for the quarter, compared to analyst estimates of $8.48 billion. During the same period in the prior year, the company earned $0.06 earnings per share. The company’s quarterly revenue was up 7.5% on a year-over-year basis. Equities research analysts forecast that Coupang, Inc. will post -0.25 EPS for the current fiscal year.

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.