Coupa Software (COUP) Trading Down 11.3% Following Analyst Downgrade

Shares of Coupa Software Inc (NASDAQ:COUP) fell 11.3% during trading on Wednesday after UBS Group lowered their price target on the stock from $90.00 to $80.00. UBS Group currently has an outperform rating on the stock. Coupa Software traded as low as $59.76 and last traded at $61.00. 3,997,585 shares were traded during trading, an increase of 323% from the average session volume of 945,852 shares. The stock had previously closed at $68.80.

COUP has been the subject of a number of other research reports. Loop Capital upgraded Coupa Software from a “hold” rating to a “buy” rating and set a $72.00 price objective for the company in a research report on Friday, November 30th. Barclays upped their price objective on Coupa Software from $53.00 to $58.00 and gave the company an “equal weight” rating in a research report on Wednesday, August 15th. Oppenheimer upped their price objective on Coupa Software from $62.00 to $77.00 and gave the company an “outperform” rating in a research report on Wednesday, August 29th. Zacks Investment Research upgraded Coupa Software from a “hold” rating to a “buy” rating and set a $70.00 price objective for the company in a research report on Monday, August 6th. Finally, Raymond James upped their price objective on Coupa Software from $60.00 to $86.00 and gave the company an “outperform” rating in a research report on Wednesday, September 5th. Six equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus target price of $64.35.

In other Coupa Software news, insider Anthony D. Tiscornia sold 781 shares of the company’s stock in a transaction dated Wednesday, September 12th. The stock was sold at an average price of $78.06, for a total value of $60,964.86. Following the completion of the sale, the insider now owns 521 shares in the company, valued at $40,669.26. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Veenendaal Frank Van sold 1,000 shares of the company’s stock in a transaction dated Friday, September 14th. The stock was sold at an average price of $80.30, for a total value of $80,300.00. Following the completion of the sale, the director now owns 123,635 shares of the company’s stock, valued at approximately $9,927,890.50. The disclosure for this sale can be found here. In the last 90 days, insiders sold 284,248 shares of company stock valued at $19,036,803. Company insiders own 6.50% of the company’s stock.

A number of institutional investors and hedge funds have recently modified their holdings of the business. Vanguard Group Inc. increased its position in Coupa Software by 11.3% in the third quarter. Vanguard Group Inc. now owns 4,610,782 shares of the technology company’s stock worth $364,712,000 after buying an additional 467,714 shares in the last quarter. Morgan Stanley increased its position in Coupa Software by 3.8% in the third quarter. Morgan Stanley now owns 3,733,253 shares of the technology company’s stock worth $295,300,000 after buying an additional 137,624 shares in the last quarter. Sylebra HK Co Ltd increased its position in Coupa Software by 4.5% in the second quarter. Sylebra HK Co Ltd now owns 3,533,098 shares of the technology company’s stock worth $219,900,000 after buying an additional 150,823 shares in the last quarter. BlackRock Inc. increased its position in Coupa Software by 14.4% in the third quarter. BlackRock Inc. now owns 3,480,491 shares of the technology company’s stock worth $275,308,000 after buying an additional 438,131 shares in the last quarter. Finally, Whale Rock Capital Management LLC increased its position in Coupa Software by 16.8% in the second quarter. Whale Rock Capital Management LLC now owns 2,267,803 shares of the technology company’s stock worth $141,148,000 after buying an additional 326,727 shares in the last quarter. Institutional investors and hedge funds own 96.79% of the company’s stock.

The stock has a market capitalization of $3.54 billion, a P/E ratio of -87.01 and a beta of 1.76.

Coupa Software (NASDAQ:COUP) last released its quarterly earnings data on Monday, December 3rd. The technology company reported $0.08 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.03) by $0.11. The firm had revenue of $67.46 million during the quarter, compared to analyst estimates of $62.59 million. Coupa Software had a negative return on equity of 14.93% and a negative net margin of 19.93%. The business’s quarterly revenue was up 42.5% compared to the same quarter last year. During the same quarter in the prior year, the company posted ($0.05) earnings per share. On average, equities research analysts anticipate that Coupa Software Inc will post -0.98 earnings per share for the current year.

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Coupa Software Company Profile (NASDAQ:COUP)

Coupa Software Incorporated provides cloud-based spend management platform. The company's platform connects organization with suppliers globally; and provides visibility into and control over how companies spend money, as well as enables businesses to achieve savings that drive profitability. Its platform consists of procurement, invoicing, and expense management modules that form its transactional engine and capture a company's spend; and offers supporting modules, including sourcing, spend analysis, contract management, supplier management, and inventory management.

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