BofA Securities slashes price target on Coupang Inc. [CPNG] – find out why.

Coupang Inc. [NYSE: CPNG] price plunged by -0.83 percent to reach at -$0.11. The company report on March 9, 2023 that Coupang Names Airtable CFO Ambereen Toubassy as New Board Member.

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Coupang, Inc. today announced that it has appointed Ambereen Toubassy, the Chief Financial Officer of Airtable, to the company’s Board of Directors.

“We’re excited to welcome Ambereen Toubassy to the Coupang Board and to work together to unlock even greater value for our customers and stakeholders,” said Bom Kim, Founder and CEO of Coupang. “With her extensive background as a skilled financial leader at companies that focus on customer experience, Ambereen will be an important advisor in our efforts to create new moments of wow for our customers through bold innovations and investments.”.

A sum of 10484374 shares traded at recent session while its average daily volume was at 7.23M shares. Coupang Inc. shares reached a high of $13.62 and dropped to a low of $12.84 until finishing in the latest session at $13.18.

The one-year CPNG stock forecast points to a potential upside of 39.95. The average equity rating for CPNG stock is currently 2.20, trading closer to a bullish pattern in the stock market.

Guru’s Opinion on Coupang Inc. [CPNG]:

Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for CPNG shares is $21.95 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on CPNG stock is a recommendation set at 2.20. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.

BofA Securities have made an estimate for Coupang Inc. shares, keeping their opinion on the stock as Neutral, with their previous recommendation back on March 02, 2023. The new note on the price target was released on March 01, 2023, representing the official price target for Coupang Inc. stock. Previously, the target price had yet another raise to $20, while Barclays analysts kept a Overweight rating on CPNG stock.

The Average True Range (ATR) for Coupang Inc. is set at 0.72, with the Price to Sales ratio for CPNG stock in the period of the last 12 months amounting to 1.17. The Price to Book ratio for the last quarter was 9.69, with the Price to Cash per share for the same quarter was set at 1.93.

CPNG Stock Performance Analysis:

Coupang Inc. [CPNG] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -8.09. With this latest performance, CPNG shares dropped by -16.53% in over the last four-week period, additionally sinking by -27.26% over the last 6 months – not to mention a drop of -30.41% in the past year of trading.

Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for CPNG stock in for the last two-week period is set at 32.81, with the RSI for the last a single of trading hit 29.02, and the three-weeks RSI is set at 35.76 for Coupang Inc. [CPNG]. The present Moving Average for the last 50 days of trading for this stock 15.78, while it was recorded at 13.66 for the last single week of trading, and 16.45 for the last 200 days.

Insight into Coupang Inc. Fundamentals:

Operating Margin for any stock indicates how profitable investing would be, and Coupang Inc. [CPNG] shares currently have an operating margin of -0.54 and a Gross Margin at +22.88. Coupang Inc.’s Net Margin is presently recorded at -0.45.

Return on Equity for this stock declined to -4.01, with Return on Assets sitting at -1.01.

Coupang Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 0.80 and a Current Ratio set at 1.20.

Coupang Inc. [CPNG] Insider Position Details

There are presently around $16,696 million, or 80.10% of CPNG stock, in the hands of institutional investors. The top three institutional holders of CPNG stocks are: SB INVESTMENT ADVISERS (UK) LTD with ownership of 426,156,413, which is approximately -7.59% of the company’s market cap and around 0.20% of the total institutional ownership; MORGAN STANLEY, holding 128,231,169 shares of the stock with an approximate value of $1.69 billion in CPNG stocks shares; and BAILLIE GIFFORD & CO, currently with $1.52 billion in CPNG stock with ownership of nearly 6.218% of the company’s market capitalization.

Positions in Coupang Inc. stocks held by institutional investors increased at the end of Tuesday and at the time of the Tuesday reporting period, where 206 institutional holders increased their position in Coupang Inc. [NYSE:CPNG] by around 113,167,007 shares. Additionally, 134 investors decreased positions by around 113,558,784 shares, while 73 investors held positions by with 1,040,044,345 shares. The mentioned changes placed institutional holdings at 1,266,770,136 shares, according to the latest SEC report filing. CPNG stock had 82 new institutional investments in for a total of 32,105,746 shares, while 42 institutional investors sold positions of 3,148,149 shares during the same period.


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