In this article, we discuss the 5 best IPO stocks to buy now. If you want to read our detailed analysis of these IPOs, go directly to the 11 Best IPO Stocks to Buy Now.
5. Coupang, Inc. (NYSE: CPNG)
IPO Date: March 11, 2021
Number of Hedge Fund Holders: 33
Coupang, Inc. (NYSE: CPNG) ranks fifth on our list of the best IPO stocks to buy now. It is an e-commerce company based in South Korea and has expanded its operations in Malaysia, Japan, and Tokyo. The company holds 24% of South Korea’s e-commerce market share.
Coupang, Inc. (NYSE: CPNG) went public on March 11, 2021, raising $4.55 billion in its IPO and valuing the company at $60 billion. The company priced its shares at $35 per share, above its range of $32-$34 per share. On its first trading day, Coupang, Inc. (NYSE: CPNG) gained 40%, becoming one of the largest IPOs of 2021 so far. In Q2 2021, the company posted revenue of $4.48 billion, beating the estimates by $50 million. Recently, Daiwa upgraded Coupang, Inc. (NYSE: CPNG) to ‘Buy’, with a $43 price target after the strong Q2 results.
As of Q2 2021, 33 hedge funds tracked by Insider Monkey have positions in Coupang, Inc. (NYSE: CPNG), worth over $18 billion.