Coupa Software (NASDAQ:COUP) Given Average Recommendation of “Hold” by Analysts
Shares of Coupa Software (NASDAQ:COUP) have been given an average rating of “Hold” by the ten ratings firms that are covering the company, Marketbeat.com reports. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and four have issued a buy rating on the company. The average 12-month target price among brokers that have updated their coverage on the stock in the last year is $34.43.
Several equities research analysts have issued reports on COUP shares. Royal Bank Of Canada raised their price target on shares of Coupa Software from $35.00 to $40.00 and gave the stock an “outperform” rating in a research note on Thursday, June 1st. Zacks Investment Research upgraded shares of Coupa Software from a “sell” rating to a “hold” rating in a report on Friday, March 24th. JMP Securities reiterated an “outperform” rating and set a $40.00 price objective (up from $32.00) on shares of Coupa Software in a report on Tuesday, June 6th. Morgan Stanley reiterated an “equal weight” rating and set a $31.00 price objective (up from $29.00) on shares of Coupa Software in a report on Saturday, June 3rd. Finally, Raymond James Financial, Inc. reiterated an “outperform” rating and set a $40.00 price objective (up from $34.00) on shares of Coupa Software in a report on Wednesday, June 7th.
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Shares of Coupa Software (NASDAQ COUP) traded up 0.52% during trading on Tuesday, reaching $30.74. 283,241 shares of the company’s stock were exchanged. The stock’s market capitalization is $1.63 billion. Coupa Software has a 52 week low of $22.50 and a 52 week high of $41.61. The stock has a 50 day moving average price of $32.17 and a 200-day moving average price of $27.69.
Coupa Software (NASDAQ:COUP) last released its quarterly earnings results on Monday, June 5th. The technology company reported ($0.09) earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.14) by $0.05. The firm had revenue of $41.10 million for the quarter, compared to analyst estimates of $38.33 million. During the same period in the prior year, the business earned ($1.76) earnings per share. Coupa Software’s revenue for the quarter was up 40.8% on a year-over-year basis. Analysts predict that Coupa Software will post ($0.51) earnings per share for the current year.
In related news, major shareholder Ix Lp Mdv sold 1,662,000 shares of the firm’s stock in a transaction that occurred on Wednesday, July 12th. The shares were sold at an average price of $31.25, for a total value of $51,937,500.00. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Ravi Thakur sold 11,240 shares of the firm’s stock in a transaction that occurred 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 owns 68,175 shares in the company, valued at approximately $1,979,120.25. The disclosure for this sale can be found here. Insiders sold 1,690,254 shares of company stock worth $52,835,703 in the last 90 days. 32.10% of the stock is currently owned by insiders.
A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Sylebra HK Co Ltd acquired a new position in Coupa Software during the first quarter valued at approximately $28,720,000. Vanguard Group Inc. raised its stake 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 in the last quarter. Morgan Stanley raised its stake 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 in the last quarter. Janus Capital Management LLC purchased a new stake in Coupa Software during the first quarter worth about $12,160,000. Finally, Wells Fargo & Company MN raised its stake in Coupa Software by 31.6% in the first quarter. Wells Fargo & Company MN now owns 274,134 shares of the technology company’s stock worth $6,963,000 after buying an additional 65,859 shares in the last quarter. Hedge funds and other institutional investors own 52.75% of the company’s stock.
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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