Coupa Software (COUP) Upgraded to “Buy” at Zacks Investment Research
Coupa Software (NASDAQ:COUP) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research note issued to investors on Thursday. The brokerage currently has a $36.00 target price on the technology company’s stock. Zacks Investment Research‘s target price would suggest a potential upside of 9.59% from the stock’s current price.
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. “
Several other brokerages have also commented on COUP. Northland Securities reiterated a “buy” rating and set a $38.00 price objective on shares of Coupa Software in a report on Thursday, August 10th. Royal Bank Of Canada reissued a “buy” rating and issued a $41.00 target price on shares of Coupa Software in a research report on Wednesday, November 15th. Cantor Fitzgerald reissued a “buy” rating and issued a $36.00 target price on shares of Coupa Software in a research report on Wednesday, September 6th. ValuEngine raised Coupa Software from a “sell” rating to a “hold” rating in a research report on Wednesday, October 18th. Finally, Barclays reissued a “hold” rating and issued a $38.00 target price (up from $34.00) on shares of Coupa Software in a research report on Monday, November 27th. One research analyst has rated the stock with a sell rating, five have issued a hold rating and eight have given a buy rating to the stock. The company presently has an average rating of “Buy” and a consensus target price of $35.69.
Coupa Software (NASDAQ:COUP) last issued its quarterly earnings data on Monday, December 4th. The technology company reported ($0.05) EPS for the quarter, beating the consensus estimate of ($0.11) by $0.06. Coupa Software had a negative return on equity of 20.71% and a negative net margin of 24.37%. The firm had revenue of $47.30 million during the quarter, compared to analyst estimates of $45.02 million. During the same quarter in the prior year, the business posted ($0.22) EPS. The business’s revenue for the quarter was up 33.6% compared to the same quarter last year. sell-side analysts expect that Coupa Software will post -1 earnings per share for the current year.
In other Coupa Software news, CEO Robert Bernshteyn sold 63,225 shares of the stock in a transaction dated Tuesday, September 19th. The stock was sold at an average price of $31.52, for a total transaction of $1,992,852.00. Following the sale, the chief executive officer now directly owns 280,665 shares of the company’s stock, valued at approximately $8,846,560.80. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Anthony D. Tiscornia sold 2,344 shares of the stock in a transaction dated Tuesday, September 12th. The stock was sold at an average price of $31.37, for a total value of $73,531.28. Following the sale, the insider now directly owns 1,563 shares in the company, valued at $49,031.31. The disclosure for this sale can be found here. Insiders have sold a total of 491,519 shares of company stock worth $16,224,868 over the last ninety days. 32.10% of the stock is owned by insiders.
Institutional investors and hedge funds have recently made changes to their positions in the business. BNP Paribas Arbitrage SA grew its position in Coupa Software by 2,294.8% during the 2nd quarter. BNP Paribas Arbitrage SA now owns 3,664 shares of the technology company’s stock worth $106,000 after purchasing an additional 3,511 shares during the period. Hillsdale Investment Management Inc. acquired a new stake in Coupa Software during the 2nd quarter worth about $142,000. Trexquant Investment LP acquired a new stake in Coupa Software during the 3rd quarter worth about $274,000. Symmetry Peak Management LLC acquired a new stake in Coupa Software during the 2nd quarter worth about $290,000. Finally, Legal & General Group Plc grew its position in Coupa Software by 436.1% during the 2nd quarter. Legal & General Group Plc now owns 10,792 shares of the technology company’s stock worth $312,000 after purchasing an additional 8,779 shares during the period. 76.68% of the stock is currently owned by institutional investors.
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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