Needham & Company LLC Initiates Coverage on Coupa Software (COUP)

Analysts at Needham & Company LLC initiated coverage on shares of Coupa Software (NASDAQ:COUP) in a report released on Wednesday, January 10th, Marketbeat Ratings reports. The firm set a “buy” rating and a $39.00 price target on the technology company’s stock. Needham & Company LLC’s price objective indicates a potential upside of 2.98% from the stock’s previous close.

COUP has been the topic of a number of other reports. CIBC started coverage on shares of Coupa Software in a research note on Friday, December 22nd. They issued an “outperform” rating and a $41.00 price objective on the stock. Zacks Investment Research lowered shares of Coupa Software from a “buy” rating to a “hold” rating in a research note on Friday, December 8th. Barclays reissued a “hold” rating and set a $38.00 target price (up from $34.00) on shares of Coupa Software in a research note on Monday, November 27th. Cantor Fitzgerald reissued a “buy” rating and set a $36.00 target price on shares of Coupa Software in a research note on Tuesday, December 5th. Finally, ValuEngine raised shares of Coupa Software from a “sell” rating to a “hold” rating in a research note on Wednesday, October 18th. One analyst has rated the stock with a sell rating, five have issued a hold rating and twelve have given a buy rating to the company. The stock has a consensus rating of “Buy” and an average target price of $37.99.

Coupa Software (COUP) traded down $1.06 during trading hours on Wednesday, hitting $37.87. 282,946 shares of the stock were exchanged, compared to its average volume of 617,493. Coupa Software has a 12 month low of $22.50 and a 12 month high of $39.54. The company has a market cap of $2,142.96, a price-to-earnings ratio of -47.34 and a beta of 4.73.

Coupa Software (NASDAQ:COUP) last posted its quarterly earnings data on Monday, December 4th. The technology company reported ($0.05) EPS for the quarter, beating the Zacks’ consensus estimate of ($0.11) by $0.06. Coupa Software had a negative net margin of 24.37% and a negative return on equity of 20.40%. The company had revenue of $47.30 million for the quarter, compared to analyst estimates of $45.02 million. During the same period in the prior year, the firm posted ($0.22) EPS. The company’s quarterly revenue was up 33.6% on a year-over-year basis. analysts expect that Coupa Software will post -0.94 earnings per share for the current fiscal year.

In other Coupa Software news, insider Anthony D. Tiscornia sold 781 shares of the company’s stock in a transaction on Monday, November 13th. The shares were sold at an average price of $33.18, for a total transaction of $25,913.58. Following the transaction, the insider now owns 521 shares in the company, valued at $17,286.78. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO Robert Bernshteyn sold 63,225 shares of the company’s stock in a transaction on Monday, November 20th. The stock was sold at an average price of $33.95, for a total transaction of $2,146,488.75. Following the transaction, the chief executive officer now owns 162,092 shares in the company, valued at approximately $5,503,023.40. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 347,106 shares of company stock worth $11,782,637. Corporate insiders own 32.10% of the company’s stock.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in COUP. Verition Fund Management LLC purchased a new stake in shares of Coupa Software in the second quarter valued at about $384,000. Sylebra HK Co Ltd raised its holdings in shares of Coupa Software by 6.5% in the second quarter. Sylebra HK Co Ltd now owns 1,204,374 shares of the technology company’s stock valued at $34,903,000 after purchasing an additional 73,654 shares during the last quarter. Vanguard Group Inc. raised its holdings in shares of Coupa Software by 260.3% in the second quarter. Vanguard Group Inc. now owns 2,700,303 shares of the technology company’s stock valued at $78,254,000 after purchasing an additional 1,950,862 shares during the last quarter. Capital World Investors raised its holdings in shares of Coupa Software by 39.2% in the second quarter. Capital World Investors now owns 1,837,112 shares of the technology company’s stock valued at $53,240,000 after purchasing an additional 517,000 shares during the last quarter. Finally, Wells Fargo & Company MN raised its holdings in shares of Coupa Software by 17.2% in the second quarter. Wells Fargo & Company MN now owns 321,265 shares of the technology company’s stock valued at $9,310,000 after purchasing an additional 47,131 shares during the last quarter. Hedge funds and other institutional investors own 75.09% of the company’s stock.

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About Coupa Software

Coupa Software Incorporated is a United States-based company, which provides a unified, cloud-based spend management platform that connects organizations with suppliers globally. The Company offers spend management cloud applications, which are pre-integrated. The platform offers consumerized financial applications.

Analyst Recommendations for Coupa Software (NASDAQ:COUP)

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