Barclays Forecasts Strong Price Appreciation for Coupang (NYSE:CPNG) Stock

Coupang (NYSE:CPNG) had its price target boosted by Barclays from $32.00 to $34.00 in a report released on Wednesday,Benzinga reports. The firm currently has an overweight rating on the stock.

Separately, Citigroup reduced their price target on shares of Coupang from $31.00 to $28.00 and set a “buy” rating on the stock in a research report on Wednesday, January 8th. One equities research analyst has rated the stock with a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $27.78.

Coupang Stock Down 0.8 %

CPNG stock opened at $23.65 on Wednesday. The company has a current ratio of 1.13, a quick ratio of 0.86 and a debt-to-equity ratio of 0.28. The company’s 50 day moving average is $22.91 and its 200 day moving average is $23.58. The stock has a market cap of $42.54 billion, a price-to-earnings ratio of 41.49, a price-to-earnings-growth ratio of 43.21 and a beta of 1.11. Coupang has a 1-year low of $14.51 and a 1-year high of $26.91.

Insider Transactions at Coupang

In other news, VP Pranam Kolari sold 8,459 shares of the firm’s stock in a transaction that occurred on Monday, February 3rd. The shares were sold at an average price of $22.98, for a total value of $194,387.82. Following the transaction, the vice president now owns 136,806 shares in the company, valued at approximately $3,143,801.88. This trade represents a 5.82 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 13.60% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the company. Wingate Wealth Advisors Inc. purchased a new stake in Coupang in the fourth quarter worth $26,000. Brooklyn Investment Group purchased a new stake in Coupang in the third quarter worth $28,000. Asset Dedication LLC lifted its stake in Coupang by 438.1% in the third quarter. Asset Dedication LLC now owns 1,216 shares of the company’s stock worth $30,000 after acquiring an additional 990 shares during the period. Berbice Capital Management LLC purchased a new stake in Coupang in the fourth quarter worth $31,000. Finally, Van ECK Associates Corp lifted its stake in Coupang by 63.1% in the third quarter. Van ECK Associates Corp now owns 1,251 shares of the company’s stock worth $32,000 after acquiring an additional 484 shares during the period. Institutional investors own 83.72% of the company’s stock.

Coupang Company Profile

Coupang, Inc, together with its subsidiaries owns and operates retail business through its mobile applications and Internet websites primarily in South Korea. The company operates through Product Commerce and Developing Offerings segments. It 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.