Nomura Cuts Coupang (NYSE:CPNG) Price Target to $30.00

Coupang (NYSE:CPNGFree Report) had its price target trimmed by Nomura from $38.00 to $30.00 in a report published on Wednesday morning,MarketScreener reports. The firm currently has a buy rating on the stock.

Several other brokerages have also recently commented on CPNG. Bank of America boosted their price target on shares of Coupang from $36.00 to $38.00 and gave the stock a “buy” rating in a research report on Wednesday, November 5th. Morgan Stanley reiterated an “overweight” rating and set a $31.00 target price on shares of Coupang in a report on Sunday, December 14th. Zacks Research raised Coupang from a “strong sell” rating to a “hold” rating in a research report on Tuesday, November 4th. Weiss Ratings restated a “hold (c)” rating on shares of Coupang in a research note on Wednesday, October 8th. Finally, Mizuho upped their price objective on Coupang from $30.00 to $32.00 and gave the stock a “neutral” rating in a research note on Thursday, November 6th. One equities research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and four have given a Hold rating to the company’s stock. According to data from MarketBeat, Coupang currently has a consensus rating of “Moderate Buy” and a consensus target price of $33.25.

Read Our Latest Stock Analysis on CPNG

Coupang Trading Up 2.3%

CPNG opened at $23.21 on Wednesday. The stock has a market capitalization of $42.40 billion, a P/E ratio of 110.53 and a beta of 1.18. The company has a current ratio of 1.06, a quick ratio of 0.82 and a debt-to-equity ratio of 0.13. Coupang has a 12 month low of $19.02 and a 12 month high of $34.08. The firm’s fifty day simple moving average is $28.54 and its 200 day simple moving average is $29.53.

Coupang (NYSE:CPNGGet Free Report) last posted its quarterly earnings data on Tuesday, November 4th. The company reported $0.05 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.04 by $0.01. Coupang had a net margin of 1.16% and a return on equity of 6.95%. The company had revenue of $9.27 billion for the quarter, compared to the consensus estimate of $9.13 billion. During the same period last year, the company earned $0.06 earnings per share. The firm’s revenue was up 17.8% compared to the same quarter last year. As a group, research analysts anticipate that Coupang will post 0.17 EPS for the current fiscal year.

Insider Buying and Selling at Coupang

In related news, VP Pranam Kolari sold 11,653 shares of the stock in a transaction on Monday, November 3rd. The stock was sold at an average price of $31.98, for a total value of $372,662.94. Following the sale, the vice president owned 147,023 shares in the company, valued at approximately $4,701,795.54. This represents a 7.34% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 12.78% of the company’s stock.

Hedge Funds Weigh In On Coupang

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in CPNG. Sunbelt Securities Inc. acquired a new stake in shares of Coupang during the 3rd quarter worth about $26,000. Albion Financial Group UT bought a new position in Coupang in the 2nd quarter valued at about $30,000. Orion Capital Management LLC acquired a new stake in Coupang during the third quarter worth approximately $32,000. Hilltop National Bank acquired a new stake in Coupang during the third quarter worth approximately $34,000. Finally, Fifth Third Bancorp boosted its holdings in shares of Coupang by 1,250.0% during the third quarter. Fifth Third Bancorp now owns 1,080 shares of the company’s stock worth $35,000 after acquiring an additional 1,000 shares during the period. 83.72% of the stock is owned by institutional investors.

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About Coupang

(Get Free Report)

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.

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Analyst Recommendations for Coupang (NYSE:CPNG)

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