Coupa Software (COUP) Downgraded by Zacks Investment Research
Coupa Software (NASDAQ:COUP) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a report released on Friday.
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. “
A number of other equities research analysts also recently commented on COUP. Morgan Stanley reiterated an “equal weight” rating and set a $31.00 price objective (up previously from $29.00) on shares of Coupa Software in a research report on Saturday, June 3rd. Royal Bank Of Canada increased their price objective on Coupa Software from $35.00 to $40.00 and gave the company an “outperform” rating in a research report on Thursday, June 1st. Raymond James Financial, Inc. reiterated an “outperform” rating and set a $40.00 price objective (up previously from $34.00) on shares of Coupa Software in a research report on Wednesday, June 7th. First Analysis started coverage on Coupa Software in a research report on Monday, August 7th. They set an “overweight” rating and a $37.00 price objective for the company. Finally, Cantor Fitzgerald started coverage on Coupa Software in a research report on Thursday, July 20th. They set an “overweight” rating and a $35.00 price objective for the company. Two research analysts have rated the stock with a sell rating, four have given a hold rating and seven have given a buy rating to the company. Coupa Software currently has a consensus rating of “Hold” and a consensus price target of $34.61.
Shares of Coupa Software (NASDAQ:COUP) traded up 0.07% during trading on Friday, reaching $30.45. The company had a trading volume of 318,218 shares. The stock’s 50-day moving average price is $30.30 and its 200-day moving average price is $29.29. The stock’s market capitalization is $1.61 billion. Coupa Software has a 12 month low of $22.50 and a 12 month high of $41.61.
Coupa Software (NASDAQ:COUP) last released its earnings results on Tuesday, September 5th. The technology company reported ($0.10) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.28) by $0.18. The firm had revenue of $44.60 million during the quarter, compared to the consensus estimate of $41.59 million. Coupa Software had a negative return on equity of 19.35% and a negative net margin of 24.00%. The firm’s revenue for the quarter was up 43.4% compared to the same quarter last year. Equities analysts forecast that Coupa Software will post ($0.49) earnings per share for the current fiscal year.
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In other news, insider Ravi Thakur sold 11,240 shares of the stock in a transaction on Friday, September 1st. The stock was sold at an average price of $30.29, for a total value of $340,459.60. Following the completion of the sale, the insider now owns 45,695 shares in the company, valued at $1,384,101.55. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Todd R. Ford sold 1,446 shares of the stock in a transaction on Wednesday, June 21st. The shares were sold at an average price of $30.70, for a total value of $44,392.20. Following the completion of the sale, the chief financial officer now owns 4,059 shares of the company’s stock, valued at approximately $124,611.30. The disclosure for this sale can be found here. Insiders sold 1,851,944 shares of company stock valued at $57,635,581 in the last 90 days. Corporate insiders own 32.10% of the company’s stock.
Several hedge funds and other institutional investors have recently bought and sold shares of COUP. Vanguard Group Inc. increased its position in Coupa Software by 260.3% during the second quarter. Vanguard Group Inc. now owns 2,700,303 shares of the technology company’s stock worth $78,254,000 after buying an additional 1,950,862 shares during the last quarter. Sylebra HK Co Ltd acquired a new position in Coupa Software during the first quarter worth $28,720,000. Voya Investment Management LLC bought a new stake in Coupa Software during the second quarter valued at about $22,196,000. Janus Henderson Group PLC bought a new stake in Coupa Software during the second quarter valued at about $18,242,000. Finally, Federated Investors Inc. PA boosted its holdings in Coupa Software by 110.5% during the second quarter. Federated Investors Inc. PA now owns 1,073,100 shares of the technology company’s stock valued at $31,098,000 after acquiring an additional 563,200 shares during the period. 64.35% of the stock is currently owned by institutional investors and hedge funds.
Coupa Software Company Profile
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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