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

Coupang (NYSE:CPNG) had its price target increased by investment analysts at Mizuho from $25.00 to $27.00 in a report released on Wednesday,Benzinga reports. The brokerage currently has a “neutral” rating on the stock. Mizuho’s price objective would indicate a potential upside of 6.78% from the company’s current price.

CPNG has been the subject of a number of other research reports. Barclays increased their target price on shares of Coupang from $32.00 to $34.00 and gave the stock an “overweight” rating in a research report on Wednesday, February 12th. Citigroup dropped their price objective on Coupang from $31.00 to $28.00 and set a “buy” rating on the stock in a research note on Wednesday, January 8th. Finally, Deutsche Bank Aktiengesellschaft upgraded Coupang from a “hold” rating to a “buy” rating and set a $28.50 target price on the stock in a report on Wednesday. One investment analyst has rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $29.06.

Coupang Stock Performance

Coupang stock traded up $1.12 during trading hours on Wednesday, reaching $25.29. 7,103,407 shares of the company were exchanged, compared to its average volume of 7,983,643. Coupang has a 12 month low of $16.45 and a 12 month high of $26.91. 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 firm has a market cap of $45.49 billion, a price-to-earnings ratio of 44.34, a PEG ratio of 52.20 and a beta of 1.11. The stock has a 50-day moving average of $23.13 and a 200 day moving average of $23.86.

Insider Buying and Selling at Coupang

In other Coupang news, VP Pranam Kolari sold 8,459 shares of Coupang stock in a transaction dated Monday, February 3rd. The shares were sold at an average price of $22.98, for a total value of $194,387.82. Following the sale, the vice president now owns 136,806 shares of the company’s stock, valued at approximately $3,143,801.88. The trade was a 5.82 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 13.60% of the company’s stock.

Institutional Investors Weigh In On Coupang

Large investors have recently added to or reduced their stakes in the company. Wingate Wealth Advisors Inc. bought a new position in shares of Coupang in the fourth quarter valued at approximately $26,000. Brooklyn Investment Group purchased a new position in Coupang during the 3rd quarter valued at $28,000. Berbice Capital Management LLC bought a new position in Coupang during the 4th quarter valued at approximately $31,000. Van ECK Associates Corp lifted its position in Coupang by 63.1% in the 3rd quarter. Van ECK Associates Corp now owns 1,251 shares of the company’s stock valued at $32,000 after acquiring an additional 484 shares in the last quarter. Finally, Itau Unibanco Holding S.A. increased its holdings in Coupang by 520.6% in the 4th quarter. Itau Unibanco Holding S.A. now owns 1,955 shares of the company’s stock worth $43,000 after buying an additional 1,640 shares in the last quarter. Hedge funds and other institutional investors own 83.72% of the company’s stock.

About Coupang

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.