Zacks: Brokerages Anticipate Coupa Software (COUP) Will Post Quarterly Sales of $45.03 Million
Wall Street brokerages expect Coupa Software (NASDAQ:COUP) to announce sales of $45.03 million for the current quarter, Zacks reports. Three analysts have issued estimates for Coupa Software’s earnings. The highest sales estimate is $45.14 million and the lowest is $44.91 million. Coupa Software posted sales of $30.80 million in the same quarter last year, which suggests a positive year over year growth rate of 46.2%. The company is scheduled to report its next quarterly earnings results on Monday, January 1st.
According to Zacks, analysts expect that Coupa Software will report full year sales of $45.03 million for the current fiscal year, with estimates ranging from $177.98 million to $178.36 million. For the next financial year, analysts anticipate that the business will post sales of $220.52 million per share, with estimates ranging from $218.00 million to $225.62 million. Zacks’ sales calculations are a mean average based on a survey of research analysts that follow Coupa Software.
Coupa Software (NASDAQ:COUP) last released its quarterly earnings results on Tuesday, September 5th. The technology company reported ($0.10) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.28) by $0.18. The firm had revenue of $44.60 million for the quarter, compared to the consensus estimate of $41.59 million. Coupa Software had a negative return on equity of 19.01% and a negative net margin of 24.00%. The company’s quarterly revenue was up 43.4% compared to the same quarter last year.
Several brokerages recently weighed in on COUP. Zacks Investment Research lowered Coupa Software from a “hold” rating to a “sell” rating in a report on Friday, September 8th. Cantor Fitzgerald reissued a “buy” rating and issued a $36.00 price objective on shares of Coupa Software in a report on Wednesday, September 6th. Royal Bank Of Canada boosted their price objective on Coupa Software from $40.00 to $41.00 and gave the company an “outperform” rating in a report on Wednesday, September 6th. Northland Securities reissued a “buy” rating and issued a $38.00 price objective on shares of Coupa Software in a report on Thursday, August 10th. Finally, First Analysis began coverage on Coupa Software in a report on Monday, August 7th. They issued an “overweight” rating and a $37.00 price objective for the company. Two equities research analysts have rated the stock with a sell rating, four have issued a hold rating and seven have assigned a buy rating to the company’s stock. Coupa Software presently has a consensus rating of “Hold” and an average target price of $34.61.
Coupa Software (COUP) opened at 30.525 on Tuesday. The stock’s market cap is $1.64 billion. The company’s 50-day moving average price is $31.47 and its 200-day moving average price is $31.47. Coupa Software has a 1-year low of $23.52 and a 1-year high of $41.61.
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In other news, insider Ravi Thakur sold 11,240 shares of the company’s stock in a transaction that occurred on Monday, July 3rd. The stock was 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 of the company’s stock, valued at $1,979,120.25. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Todd R. Ford sold 12,000 shares of the company’s stock in a transaction that occurred on Monday, September 18th. The shares were sold at an average price of $31.56, for a total value of $378,720.00. Following the transaction, the chief financial officer now directly owns 14,613 shares of the company’s stock, valued at $461,186.28. The disclosure for this sale can be found here. Insiders have sold 1,927,362 shares of company stock valued at $60,016,532 over the last ninety days. Corporate insiders own 32.10% of the company’s stock.
Several large investors have recently bought and sold shares of COUP. Teachers Advisors LLC bought a new position in shares of Coupa Software during the fourth quarter valued at approximately $268,000. Nationwide Fund Advisors grew its holdings in shares of Coupa Software by 22.7% during the first quarter. Nationwide Fund Advisors now owns 5,131 shares of the technology company’s stock valued at $130,000 after purchasing an additional 949 shares during the last quarter. Wells Fargo & Company MN grew its holdings in shares of Coupa Software by 31.6% during the first quarter. Wells Fargo & Company MN now owns 274,134 shares of the technology company’s stock valued at $6,963,000 after purchasing an additional 65,859 shares during the last quarter. Bank of New York Mellon Corp grew its holdings in shares of Coupa Software by 31.5% during the first quarter. Bank of New York Mellon Corp now owns 27,189 shares of the technology company’s stock valued at $691,000 after purchasing an additional 6,513 shares during the last quarter. Finally, TD Asset Management Inc. bought a new position in Coupa Software in the 1st quarter worth approximately $1,105,000. 63.60% of the stock is owned by institutional investors.
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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