Barclays Upgrades Coupa Software (COUP) to “Overweight”
Barclays upgraded shares of Coupa Software (NASDAQ:COUP) from an equal weight rating to an overweight rating in a research report report published on Monday, MarketBeat Ratings reports. The firm currently has $38.00 price target on the technology company’s stock.
COUP has been the subject of several other research reports. Royal Bank of Canada reiterated a buy rating and issued a $41.00 target price on shares of Coupa Software in a report on Wednesday, November 15th. Zacks Investment Research upgraded shares of Coupa Software from a sell rating to a hold rating in a report on Tuesday, November 7th. Raymond James Financial restated a buy rating and set a $40.00 price objective on shares of Coupa Software in a report on Tuesday, December 12th. Cantor Fitzgerald restated a buy rating and set a $38.00 price objective on shares of Coupa Software in a report on Monday, December 11th. Finally, Oppenheimer began coverage on shares of Coupa Software in a report on Friday, December 29th. They set an outperform rating and a $41.00 price objective for the company. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and eleven have assigned a buy rating to the company’s stock. The company has a consensus rating of Buy and an average target price of $36.53.
Shares of Coupa Software (COUP) opened at $32.00 on Monday. The company has a market cap of $1,760.00 and a PE ratio of -32.00. Coupa Software has a 1-year low of $22.50 and a 1-year high of $37.72.
In other news, insider Ravi Thakur sold 11,240 shares of Coupa Software stock in a transaction dated Tuesday, January 2nd. The shares were sold at an average price of $32.04, for a total value of $360,129.60. Following the completion of the transaction, the insider now owns 14,306 shares in the company, valued at $458,364.24. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Robert Bernshteyn sold 63,225 shares of Coupa Software stock in a transaction dated Wednesday, October 18th. The stock was sold at an average price of $35.71, for a total transaction of $2,257,764.75. Following the completion of the transaction, the chief executive officer now owns 239,671 shares of the company’s stock, valued at approximately $8,558,651.41. The disclosure for this sale can be found here. Insiders have sold 369,839 shares of company stock valued at $12,633,920 in the last 90 days. 32.10% of the stock is currently owned by corporate insiders.
Several institutional investors and hedge funds have recently bought and sold shares of COUP. Vanguard Group Inc. increased its stake in shares of Coupa Software by 260.3% in the second quarter. Vanguard Group Inc. now owns 2,700,303 shares of the technology company’s stock worth $78,254,000 after purchasing an additional 1,950,862 shares in the last quarter. Sylebra HK Co Ltd increased its stake in shares of Coupa Software by 79.9% in the third quarter. Sylebra HK Co Ltd now owns 2,166,792 shares of the technology company’s stock worth $67,496,000 after purchasing an additional 962,418 shares in the last quarter. Victory Capital Management Inc. purchased a new position in shares of Coupa Software in the third quarter worth about $24,428,000. Voya Investment Management LLC purchased a new position in shares of Coupa Software in the second quarter worth about $22,196,000. Finally, Janus Henderson Group PLC purchased a new position in shares of Coupa Software in the second quarter worth about $18,242,000. Hedge funds and other institutional investors own 74.67% 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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