Coupang (NYSE:CPNG) Downgraded by Zacks Investment Research

Zacks Investment Research lowered shares of Coupang (NYSE:CPNG) from a hold rating to a sell rating in a research note published on Tuesday morning, Zacks.com reports.

According to Zacks, “Coupang, Inc. owns and operates in e-commerce business through its mobile applications and Internet websites primarily in South Korea. It sells products and services in the categories of home goods and dÃcor products, apparel, beauty products, fresh food and groceries, sporting goods, electronics and everyday consumables, as well as travel and restaurant order and delivery services. Coupang, Inc. is based in Seoul, South Korea. “

CPNG has been the topic of several other research reports. Citigroup Inc. 3% Minimum Coupon Principal Protected Based Upon Russell dropped their price objective on shares of Coupang from $50.00 to $39.00 and set a neutral rating on the stock in a research note on Thursday, May 13th. Credit Suisse Group assumed coverage on Coupang in a research report on Tuesday, April 6th. They set a neutral rating and a $47.00 price objective for the company. JPMorgan Chase & Co. began coverage on Coupang in a research report on Tuesday, April 6th. They issued a neutral rating and a $48.00 price target for the company. Citigroup dropped their price target on shares of Coupang from $50.00 to $39.00 and set a neutral rating on the stock in a research note on Thursday, May 13th. Finally, The Goldman Sachs Group began coverage on shares of Coupang in a research note on Monday, April 5th. They set a buy rating and a $62.00 price objective for the company. One analyst has rated the stock with a sell rating, five have assigned a hold rating and two have given a buy rating to the company. The stock has a consensus rating of Hold and an average target price of $45.00.

Shares of NYSE:CPNG opened at $38.06 on Tuesday. The company has a current ratio of 1.57, a quick ratio of 1.24 and a debt-to-equity ratio of 0.08. Coupang has a 1 year low of $30.65 and a 1 year high of $69.00. The firm’s 50-day simple moving average is $41.40.

Coupang (NYSE:CPNG) last issued its quarterly earnings data on Wednesday, May 12th. The company reported ($0.68) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.16) by ($0.52). On average, analysts expect that Coupang will post -0.52 earnings per share for the current fiscal year.

In other news, CEO Bom Suk Kim sold 1,200,000 shares of the company’s stock in a transaction dated Monday, March 15th. The shares were sold at an average price of $35.00, for a total transaction of $42,000,000.00. Following the completion of the sale, the chief executive officer now owns 1,200,000 shares of the company’s stock, valued at approximately $42,000,000. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Lydia Jett acquired 28,571 shares of the stock in a transaction dated Monday, March 15th. The stock was acquired at an average price of $35.00 per share, for a total transaction of $999,985.00. Following the purchase, the director now directly owns 28,571 shares in the company, valued at $999,985. The disclosure for this purchase can be found here.

A number of hedge funds have recently made changes to their positions in the business. Hudock Inc. purchased a new position in shares of Coupang during the 1st quarter worth $25,000. Tradition Wealth Management LLC bought a new position in shares of Coupang during the 1st quarter valued at approximately $25,000. BDO Wealth Advisors LLC purchased a new stake in Coupang in the 1st quarter worth approximately $27,000. Montag A & Associates Inc. bought a new stake in Coupang during the 1st quarter worth approximately $28,000. Finally, Institutional & Family Asset Management LLC bought a new stake in Coupang during the 1st quarter worth approximately $45,000. 70.71% of the stock is owned by institutional investors and hedge funds.

About Coupang

Coupang, Inc owns and operates in e-commerce business through its mobile applications and Internet websites primarily in South Korea. 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.

Further Reading: What is the S&P 500 Index?

Get a free copy of the Zacks research report on Coupang (CPNG)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Analyst Recommendations for Coupang (NYSE:CPNG)

Receive News & Ratings for Coupang Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Coupang and related companies with MarketBeat.com's FREE daily email newsletter.