Zacks Investment Research Lowers Coupa Software (COUP) to Sell
Zacks Investment Research downgraded shares of Coupa Software (NASDAQ:COUP) from a hold rating to a sell rating in a research report released on Friday morning.
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 equities analysts have also recently commented on the company. Cantor Fitzgerald reiterated a buy rating and issued a $36.00 target price on shares of Coupa Software in a report on Wednesday, September 6th. Royal Bank Of Canada lifted their target price on Coupa Software from $40.00 to $41.00 and gave the stock an outperform rating in a report on Wednesday, September 6th. Northland Securities reiterated a buy rating and issued a $38.00 target price on shares of Coupa Software in a report on Thursday, August 10th. First Analysis assumed coverage on Coupa Software in a report on Monday, August 7th. They issued an overweight rating and a $37.00 target price for the company. Finally, BTIG Research assumed coverage on Coupa Software in a report on Monday, June 12th. They issued a buy rating and a $44.00 target price for the company. Two analysts have rated the stock with a sell rating, four have issued a hold rating and seven have issued a buy rating to the company’s stock. The stock presently has a consensus rating of Hold and an average price target of $34.61.
Shares of Coupa Software (NASDAQ COUP) opened at 30.45 on Friday. Coupa Software has a 12 month low of $22.50 and a 12 month high of $41.61. The company’s market cap is $1.61 billion. The firm has a 50-day moving average price of $30.29 and a 200 day moving average price of $29.30.
Coupa Software (NASDAQ:COUP) last announced its earnings results on Tuesday, September 5th. The technology company reported ($0.10) EPS for the quarter, topping the Zacks’ consensus estimate of ($0.28) by $0.18. The firm had revenue of $44.60 million during the quarter, compared to analysts’ expectations of $41.59 million. Coupa Software had a negative return on equity of 19.35% and a negative net margin of 24.00%. The business’s revenue for the quarter was up 43.4% on a year-over-year basis. Equities analysts predict that Coupa Software will post ($0.48) earnings per share for the current year.
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In related news, major shareholder Ix Lp Mdv sold 1,662,000 shares of the business’s stock in a transaction on Wednesday, July 12th. The stock was sold at an average price of $31.25, for a total transaction of $51,937,500.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Ravi Thakur sold 11,240 shares of the business’s stock in a transaction on Friday, September 1st. The shares were sold at an average price of $30.29, for a total value of $340,459.60. Following the transaction, the insider now owns 45,695 shares of the company’s stock, valued at approximately $1,384,101.55. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 1,851,944 shares of company stock valued at $57,635,581. 32.10% of the stock is owned by company insiders.
A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Nationwide Fund Advisors boosted its holdings in Coupa Software by 22.7% during the 1st quarter. Nationwide Fund Advisors now owns 5,131 shares of the technology company’s stock valued at $130,000 after acquiring an additional 949 shares during the period. Pier Capital LLC boosted its holdings in Coupa Software by 0.6% during the 1st quarter. Pier Capital LLC now owns 192,834 shares of the technology company’s stock valued at $4,898,000 after acquiring an additional 1,244 shares during the period. Schwab Charles Investment Management Inc. boosted its holdings in Coupa Software by 5.1% during the 1st quarter. Schwab Charles Investment Management Inc. now owns 28,056 shares of the technology company’s stock valued at $713,000 after acquiring an additional 1,368 shares during the period. JPMorgan Chase & Co. boosted its holdings in Coupa Software by 1.2% during the 1st quarter. JPMorgan Chase & Co. now owns 207,666 shares of the technology company’s stock valued at $5,274,000 after acquiring an additional 2,560 shares during the period. Finally, BNP Paribas Arbitrage SA boosted its holdings 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 valued at $106,000 after acquiring an additional 3,511 shares during the period. Institutional investors own 64.35% of the company’s stock.
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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