Coupa Software (NASDAQ:COUP) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research note issued on Thursday. The brokerage presently has a $45.00 price target on the technology company’s stock. Zacks Investment Research‘s price objective would indicate a potential upside of 14.91% from the company’s previous close.
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 research firms also recently issued reports on COUP. Barclays raised shares of Coupa Software from an “equal weight” rating to an “overweight” rating and set a $38.00 price objective on the stock in a report on Monday, January 8th. Raymond James Financial reissued a “buy” rating and issued a $40.00 price objective on shares of Coupa Software in a report on Tuesday, December 12th. Royal Bank of Canada reissued a “buy” rating and issued a $41.00 price objective on shares of Coupa Software in a report on Wednesday, November 15th. Oppenheimer started coverage on shares of Coupa Software in a report on Thursday, December 21st. They issued a “buy” rating and a $41.00 price objective on the stock. Finally, Morgan Stanley raised their price objective on shares of Coupa Software from $35.00 to $42.00 and gave the stock an “equal weight” rating in a report on Monday, January 29th. They noted that the move was a valuation call. One analyst has rated the stock with a sell rating, four have assigned a hold rating and thirteen have issued a buy rating to the stock. The stock presently has an average rating of “Buy” and an average price target of $38.52.
Coupa Software (NASDAQ:COUP) last posted its quarterly earnings data on Monday, December 4th. The technology company reported ($0.05) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.11) by $0.06. The company had revenue of $47.30 million for the quarter, compared to the consensus estimate of $45.02 million. Coupa Software had a negative net margin of 24.37% and a negative return on equity of 20.40%. The firm’s revenue was up 33.6% compared to the same quarter last year. During the same quarter last year, the firm posted ($0.22) earnings per share. sell-side analysts predict that Coupa Software will post -0.94 earnings per share for the current year.
In other news, CEO Robert Bernshteyn sold 63,225 shares of the business’s stock in a transaction on Monday, November 20th. The shares were sold at an average price of $33.95, for a total value of $2,146,488.75. Following the transaction, the chief executive officer now owns 162,092 shares of the company’s stock, valued at $5,503,023.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, insider Anthony D. Tiscornia sold 781 shares of the business’s stock in a transaction on Monday, November 13th. The stock was sold at an average price of $33.18, for a total transaction of $25,913.58. Following the completion of the transaction, the insider now directly owns 521 shares in the company, valued at approximately $17,286.78. The disclosure for this sale can be found here. Insiders have sold 358,346 shares of company stock worth $12,221,222 in the last ninety days. Insiders own 32.10% of the company’s stock.
Several hedge funds have recently added to or reduced their stakes in the company. American International Group Inc. lifted its holdings in shares of Coupa Software by 8.1% in the third quarter. American International Group Inc. now owns 19,989 shares of the technology company’s stock worth $623,000 after buying an additional 1,494 shares in the last quarter. Bank of New York Mellon Corp lifted its holdings in shares of Coupa Software by 2.5% in the third quarter. Bank of New York Mellon Corp now owns 113,344 shares of the technology company’s stock worth $3,531,000 after buying an additional 2,782 shares in the last quarter. Swiss National Bank lifted its holdings in shares of Coupa Software by 7.1% in the fourth quarter. Swiss National Bank now owns 45,100 shares of the technology company’s stock worth $1,408,000 after buying an additional 3,000 shares in the last quarter. First Trust Advisors LP lifted its holdings in shares of Coupa Software by 9.2% in the fourth quarter. First Trust Advisors LP now owns 44,879 shares of the technology company’s stock worth $1,401,000 after buying an additional 3,787 shares in the last quarter. Finally, Quantbot Technologies LP lifted its holdings in shares of Coupa Software by 31.3% in the third quarter. Quantbot Technologies LP now owns 28,615 shares of the technology company’s stock worth $891,000 after buying an additional 6,819 shares in the last quarter. 75.09% of the stock is currently owned by hedge funds and other institutional investors.
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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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