$45.03 Million in Sales Expected for COUPA SOFTWARE (COUP) This Quarter
Wall Street brokerages forecast that COUPA SOFTWARE (NASDAQ:COUP) will post sales of $45.03 million for the current quarter, according to Zacks Investment Research. 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 would indicate a positive year-over-year growth rate of 46.2%. The firm is scheduled to announce its next 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 financial year, with estimates ranging from $177.98 million to $178.36 million. For the next fiscal year, analysts anticipate that the company 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 cover 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 the Thomson Reuters’ consensus estimate of ($0.28) by $0.18. COUPA SOFTWARE had a negative return on equity of 19.01% and a negative net margin of 24.00%. The company had revenue of $44.60 million during the quarter, compared to analysts’ expectations of $41.59 million. The company’s revenue was up 43.4% on a year-over-year basis.
A number of equities research analysts have recently weighed in on COUP shares. Zacks Investment Research downgraded COUPA SOFTWARE from a “hold” rating to a “sell” rating in a research report on Friday, September 8th. First Analysis started coverage on COUPA SOFTWARE in a research report on Monday, August 7th. They set an “overweight” rating and a $37.00 target price for the company. Cantor Fitzgerald started coverage on COUPA SOFTWARE in a research report on Thursday, July 20th. They set an “overweight” rating and a $35.00 target price for the company. Royal Bank Of Canada boosted their target price on COUPA SOFTWARE from $40.00 to $41.00 and gave the stock an “outperform” rating in a research report on Wednesday, September 6th. Finally, Northland Securities restated a “buy” rating and set a $38.00 target price on shares of COUPA SOFTWARE in a research report on Thursday, August 10th. Two equities research analysts have rated the stock with a sell rating, five have assigned a hold rating and seven have assigned a buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus target price of $35.16.
In related news, insider Ravi Thakur sold 11,240 shares of COUPA SOFTWARE stock in a transaction on Wednesday, November 1st. The stock was sold at an average price of $34.99, for a total transaction of $393,287.60. Following the completion of the sale, the insider now directly owns 24,676 shares of the company’s stock, valued at $863,413.24. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CFO Todd R. Ford sold 1,446 shares of COUPA SOFTWARE stock in a transaction on Thursday, September 21st. The stock was sold at an average price of $31.16, for a total value of $45,057.36. Following the sale, the chief financial officer now directly owns 4,063 shares of the company’s stock, valued at $126,603.08. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 440,926 shares of company stock valued at $14,110,643. 32.10% of the stock is owned by insiders.
Several institutional investors have recently made changes to their positions in the stock. Frontier Capital Management Co. LLC acquired a new stake in shares of COUPA SOFTWARE during the third quarter worth $1,602,000. Victory Capital Management Inc. acquired a new stake in shares of COUPA SOFTWARE during the third quarter worth $24,428,000. Sumitomo Mitsui Asset Management Company LTD grew its stake in shares of COUPA SOFTWARE by 44.3% during the third quarter. Sumitomo Mitsui Asset Management Company LTD now owns 49,800 shares of the technology company’s stock worth $1,551,000 after purchasing an additional 15,300 shares during the period. First Trust Advisors LP acquired a new position in COUPA SOFTWARE in the third quarter valued at about $1,280,000. Finally, Verition Fund Management LLC acquired a new position in COUPA SOFTWARE in the second quarter valued at about $384,000. 63.68% of the stock is owned by institutional investors and hedge funds.
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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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