Zacks Investment Research upgraded shares of Coupa Software (NASDAQ:COUP) from a hold rating to a buy rating in a research note published on Thursday. The brokerage currently has $68.00 price objective on the technology company’s stock.
According to Zacks, “Coupa Software Inc. provides cloud-based spend management platform which connects organizations with suppliers. Coupa Software Inc. is based in SAN MATEO, United States. “
Several other research analysts also recently weighed in on COUP. Barclays increased their price target on Coupa Software from $53.00 to $58.00 and gave the stock an equal weight rating in a research note on Wednesday, August 15th. Oppenheimer increased their target price on shares of Coupa Software from $62.00 to $77.00 and gave the stock an outperform rating in a research report on Wednesday, August 29th. Morgan Stanley increased their target price on shares of Coupa Software from $57.00 to $62.00 and gave the stock an equal weight rating in a research report on Tuesday, September 4th. Cantor Fitzgerald increased their target price on shares of Coupa Software from $67.00 to $92.00 and gave the stock an overweight rating in a research report on Wednesday, September 5th. Finally, Royal Bank of Canada raised their price objective on shares of Coupa Software to $83.00 and gave the stock an outperform rating in a report on Wednesday, September 5th. Six research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. Coupa Software presently has a consensus rating of Buy and an average target price of $63.94.
Shares of NASDAQ COUP opened at $60.11 on Thursday. Coupa Software has a 1-year low of $30.65 and a 1-year high of $84.53. The firm has a market cap of $3.49 billion, a price-to-earnings ratio of -79.09 and a beta of 1.76.
Coupa Software (NASDAQ:COUP) last announced its quarterly earnings data on Monday, December 3rd. The technology company reported $0.08 earnings per share for the quarter, beating the consensus estimate of ($0.03) by $0.11. The business 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%. Coupa Software’s revenue was up 42.5% compared to the same quarter last year. During the same period in the prior year, the company earned ($0.05) earnings per share. On average, equities research analysts predict that Coupa Software will post -0.82 EPS for the current year.
In other news, CEO Robert Bernshteyn sold 63,225 shares of the firm’s stock in a transaction that occurred on Monday, November 19th. The shares were sold at an average price of $56.06, for a total value of $3,544,393.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Todd R. Ford sold 12,500 shares of the firm’s stock in a transaction that occurred on Monday, November 19th. The shares were sold at an average price of $56.08, for a total transaction of $701,000.00. The disclosure for this sale can be found here. In the last 90 days, insiders sold 300,839 shares of company stock valued at $20,082,699. 6.50% of the stock is owned by corporate insiders.
Several hedge funds have recently added to or reduced their stakes in COUP. Vanguard Group Inc. boosted its holdings in Coupa Software by 11.3% in the 3rd quarter. Vanguard Group Inc. now owns 4,610,782 shares of the technology company’s stock valued at $364,712,000 after purchasing an additional 467,714 shares during the period. Morgan Stanley boosted its holdings in Coupa Software by 3.8% in the 3rd quarter. Morgan Stanley now owns 3,733,253 shares of the technology company’s stock valued at $295,300,000 after purchasing an additional 137,624 shares during the period. Standard Life Aberdeen plc bought a new stake in Coupa Software during the third quarter valued at $1,121,000. TIAA CREF Investment Management LLC boosted its stake in Coupa Software by 4.7% during the third quarter. TIAA CREF Investment Management LLC now owns 241,230 shares of the technology company’s stock valued at $19,081,000 after buying an additional 10,803 shares during the period. Finally, Teachers Advisors LLC boosted its stake in Coupa Software by 6.0% during the third quarter. Teachers Advisors LLC now owns 333,224 shares of the technology company’s stock valued at $26,358,000 after buying an additional 18,714 shares during the period. Institutional investors own 96.79% of the company’s stock.
Coupa Software Company Profile
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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