Zacks: Brokerages Anticipate Coupa Software (COUP) Will Announce Earnings of -$0.28 Per Share
Wall Street analysts expect Coupa Software (NASDAQ:COUP) to post ($0.28) earnings per share for the current fiscal quarter, according to Zacks Investment Research. Three analysts have provided estimates for Coupa Software’s earnings, with the highest EPS estimate coming in at ($0.24) and the lowest estimate coming in at ($0.32). The business is scheduled to issue its next earnings results on Monday, January 1st.
On average, analysts expect that Coupa Software will report full year earnings of ($0.89) per share for the current financial year, with EPS estimates ranging from ($0.97) to ($0.80). For the next financial year, analysts forecast that the firm will report earnings of ($0.77) per share, with EPS estimates ranging from ($0.81) to ($0.72). Zacks’ earnings per share calculations are an average based on a survey of sell-side analysts that follow Coupa Software.
Coupa Software (NASDAQ:COUP) last released its earnings results on Monday, June 5th. The technology company reported ($0.09) earnings per share for the quarter, topping the consensus estimate of ($0.14) by $0.05. The company had revenue of $41.10 million for the quarter, compared to analysts’ expectations of $38.33 million. The firm’s revenue for the quarter was up 40.8% on a year-over-year basis. During the same period in the prior year, the firm posted ($1.76) EPS.
A number of research firms have weighed in on COUP. Morgan Stanley reissued an “equal weight” rating and set a $31.00 price objective (up previously from $29.00) on shares of Coupa Software in a report on Saturday, June 3rd. JMP Securities reissued an “outperform” rating and set a $40.00 price objective (up previously from $32.00) on shares of Coupa Software in a report on Tuesday, June 6th. J P Morgan Chase & Co reissued a “neutral” rating and set a $31.00 price objective (up previously from $27.00) on shares of Coupa Software in a report on Tuesday, June 6th. Barclays PLC raised their price objective on shares of Coupa Software from $28.00 to $32.00 and gave the stock an “equal weight” rating in a report on Tuesday, June 6th. Finally, Royal Bank Of Canada raised their price objective on shares of Coupa Software from $35.00 to $40.00 and gave the stock an “outperform” rating in a report on Thursday, June 1st. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and four have assigned a buy rating to the company’s stock. Coupa Software currently has an average rating of “Hold” and an average target price of $33.79.
Shares of Coupa Software (COUP) opened at 29.47 on Friday. The firm’s 50-day moving average is $32.17 and its 200 day moving average is $27.69. The stock’s market cap is $1.56 billion. Coupa Software has a 52-week low of $22.50 and a 52-week high of $41.61.
In other news, CFO Todd R. Ford sold 84,240 shares of Coupa Software stock in a transaction on Tuesday, April 18th. The shares were sold at an average price of $24.05, for a total value of $2,025,972.00. Following the transaction, the chief financial officer now directly owns 85,567 shares of the company’s stock, valued at approximately $2,057,886.35. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Ravi Thakur sold 11,240 shares of Coupa Software stock in a transaction on Monday, July 3rd. The shares were sold at an average price of $29.03, for a total transaction of $326,297.20. Following the completion of the transaction, the insider now directly owns 68,175 shares in the company, valued at $1,979,120.25. The disclosure for this sale can be found here. Insiders sold a total of 2,660,583 shares of company stock worth $64,205,716 over the last ninety days. Corporate insiders own 32.10% of the company’s stock.
Several institutional investors have recently made changes to their positions in the stock. Sylebra HK Co Ltd purchased a new position in Coupa Software during the first quarter worth $28,720,000. Janus Capital Management LLC purchased a new position in Coupa Software during the first quarter worth $12,160,000. Morgan Stanley raised its position in Coupa Software by 36.9% in the first quarter. Morgan Stanley now owns 686,277 shares of the technology company’s stock worth $17,431,000 after buying an additional 184,865 shares during the period. Vanguard Group Inc. raised its position in Coupa Software by 27.5% in the first quarter. Vanguard Group Inc. now owns 749,441 shares of the technology company’s stock worth $19,035,000 after buying an additional 161,830 shares during the period. Finally, State Street Corp purchased a new position in Coupa Software during the fourth quarter worth $2,224,000. 52.76% of the stock is currently owned by institutional investors and hedge funds.
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.
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