The average of price targets set by Wall Street analysts indicates a potential upside of 31.7% in Coupang, Inc. (CPNG). While the effectiveness of this highly sought-after metric is questionable, the positive trend in earnings estimate revisions might translate into an upside in the stock.
Shopify (NYSE: SHOP) and Coupang (NYSE: CPNG) represent two very different ways to invest in the e-commerce sector. Shopify, which is based in Canada, provides self-serve e-commerce tools that enable merchants to set up their own online stores, process payments, fulfill orders, and manage their own marketing campaigns without joining a large online marketplace like Amazon. Coupang owns South Korea's largest online marketplace.
Despite the market facing extreme volatility in 2022, I still like adding to these three growth stocks at today's prices.