Coupa Software (COUP) Receives Consensus Recommendation of “Hold” from Analysts
Shares of Coupa Software (NASDAQ:COUP) have been given an average recommendation of “Hold” by the thirteen brokerages that are currently covering the company, MarketBeat reports. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and seven have assigned a buy rating to the company. The average 1-year price objective among analysts that have issued a report on the stock in the last year is $35.16.
A number of equities analysts have issued reports on the company. Royal Bank Of Canada raised their target price on Coupa Software from $40.00 to $41.00 and gave the stock an “outperform” rating in a report on Wednesday. First Analysis assumed coverage on Coupa Software in a report on Monday, August 7th. They set an “overweight” rating and a $37.00 target price on the stock. Morgan Stanley restated an “equal weight” rating and set a $31.00 target price (up previously from $29.00) on shares of Coupa Software in a report on Saturday, June 3rd. JMP Securities restated an “outperform” rating and set a $40.00 target price (up previously from $32.00) on shares of Coupa Software in a report on Tuesday, June 6th. Finally, Cantor Fitzgerald restated a “buy” rating and set a $36.00 target price on shares of Coupa Software in a report on Wednesday.
Shares of Coupa Software (NASDAQ COUP) traded up 2.53% during trading on Wednesday, reaching $30.34. 2,374,308 shares of the company were exchanged. The stock’s market capitalization is $1.61 billion. Coupa Software has a 52-week low of $22.50 and a 52-week high of $41.61. The stock has a 50-day moving average of $30.28 and a 200 day moving average of $29.27.
Coupa Software (NASDAQ:COUP) last issued its earnings results on Tuesday, September 5th. The technology company reported ($0.10) earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of ($0.28) by $0.18. The company had revenue of $44.60 million for the quarter, compared to the consensus estimate of $41.59 million. The business’s quarterly revenue was up 43.4% compared to the same quarter last year. On average, equities analysts anticipate that Coupa Software will post ($0.51) earnings per share for the current fiscal year.
In other news, CFO Todd R. Ford sold 1,446 shares of Coupa Software stock in a transaction dated Wednesday, June 21st. The stock was sold at an average price of $30.70, for a total transaction of $44,392.20. Following the transaction, the chief financial officer now owns 4,059 shares in the company, valued at approximately $124,611.30. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, major shareholder Ix Lp Mdv sold 1,662,000 shares of Coupa Software stock in a transaction dated Wednesday, July 12th. The shares were sold at an average price of $31.25, for a total value of $51,937,500.00. The disclosure for this sale can be found here. Insiders have sold a total of 1,840,704 shares of company stock worth $57,295,121 in the last quarter. 32.10% of the stock is currently owned by company insiders.
Several large investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. lifted its holdings in shares of Coupa Software by 260.3% during the 2nd quarter. Vanguard Group Inc. now owns 2,700,303 shares of the technology company’s stock valued at $78,254,000 after purchasing an additional 1,950,862 shares in the last quarter. Capital World Investors lifted its holdings in shares of Coupa Software by 39.2% during the 2nd quarter. Capital World Investors now owns 1,837,112 shares of the technology company’s stock valued at $53,240,000 after purchasing an additional 517,000 shares in the last quarter. Sylebra HK Co Ltd lifted its holdings in shares of Coupa Software by 6.5% during the 2nd quarter. Sylebra HK Co Ltd now owns 1,204,374 shares of the technology company’s stock valued at $34,903,000 after purchasing an additional 73,654 shares in the last quarter. Federated Investors Inc. PA lifted its holdings in shares of Coupa Software by 110.5% during the 2nd quarter. Federated Investors Inc. PA now owns 1,073,100 shares of the technology company’s stock valued at $31,098,000 after purchasing an additional 563,200 shares in the last quarter. Finally, Voya Investment Management LLC bought a new position in shares of Coupa Software during the 2nd quarter valued at about $22,196,000. Institutional investors and hedge funds own 64.35% of the company’s stock.
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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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