Shares of Coupang, Inc. (CPNG) tumbled 5.02% in pre-market trading on Wednesday, as investors reacted to a downgrade from Deutsche Bank and the company's second-quarter results.

Deutsche Bank lowered its rating on Coupang to Hold from Buy, while maintaining a price target of $27. This downgrade appears to be a significant factor in the stock's decline, overshadowing positive actions from other analysts. Mizuho raised its target price to $30 from $27, while JP Morgan increased its target to $37 from $31, indicating a mixed sentiment among Wall Street analysts.

The pre-market slide also follows the release of Coupang's Q2 results, which initially caused a 2.4% decline in share price. While specific details of the earnings report were not provided, the market reaction suggests that the results may have fallen short of investor expectations. Despite the current downturn, Coupang maintains an average rating of overweight among analysts, with a mean price target of $32.05, according to FactSet data.