Coupa Software (COUP) Lifted 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 report released on Thursday. The brokerage currently has a $45.00 price objective on the technology company’s stock. Zacks Investment Research‘s price objective would suggest a potential upside of 12.73% from the stock’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 analysts also recently issued reports on COUP. SunTrust Banks initiated coverage on shares of Coupa Software in a research report on Wednesday, January 31st. They issued a “buy” rating and a $45.00 price target on the stock. Morgan Stanley boosted their price target on shares of Coupa Software from $35.00 to $42.00 and gave the stock an “equal weight” rating in a research report on Monday, January 29th. They noted that the move was a valuation call. Northland Securities set a $41.00 price target on shares of Coupa Software and gave the stock a “buy” rating in a research report on Wednesday, January 17th. Needham & Company LLC initiated coverage on shares of Coupa Software in a research report on Wednesday, January 10th. They issued a “buy” rating and a $39.00 price target on the stock. Finally, Barclays upgraded shares of Coupa Software from an “equal weight” rating to an “overweight” rating and set a $38.00 price target on the stock in a research report on Monday, January 8th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and thirteen have assigned a buy rating to the company. Coupa Software has an average rating of “Buy” and a consensus target price of $38.52.
Coupa Software (NASDAQ:COUP) last posted its earnings results on Monday, December 4th. The technology company reported ($0.05) earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.11) by $0.06. Coupa Software had a negative net margin of 24.37% and a negative return on equity of 20.40%. The firm had revenue of $47.30 million for the quarter, compared to analyst estimates of $45.02 million. During the same period in the previous year, the firm posted ($0.22) EPS. The company’s revenue for the quarter was up 33.6% compared to the same quarter last year. equities analysts anticipate that Coupa Software will post -0.94 EPS for the current year.
In related news, CFO Todd R. Ford sold 12,000 shares of the business’s stock in a transaction on Friday, November 17th. The shares were sold at an average price of $34.03, for a total transaction of $408,360.00. Following the transaction, the chief financial officer now owns 17,349 shares in the company, valued at approximately $590,386.47. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Ravi Thakur sold 11,240 shares of the business’s stock in a transaction on Thursday, February 1st. The shares were sold at an average price of $39.02, for a total transaction of $438,584.80. Following the transaction, the insider now owns 14,306 shares in the company, valued at approximately $558,220.12. The disclosure for this sale can be found here. Insiders have sold a total of 358,346 shares of company stock worth $12,221,222 in the last quarter. 32.10% of the stock is owned by corporate insiders.
Several institutional investors have recently added to or reduced their stakes in COUP. Vanguard Group Inc. lifted its position 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 acquiring an additional 1,950,862 shares during the period. Sylebra HK Co Ltd increased its stake in Coupa Software by 79.9% during the 3rd quarter. Sylebra HK Co Ltd now owns 2,166,792 shares of the technology company’s stock valued at $67,496,000 after purchasing an additional 962,418 shares in the last quarter. Victory Capital Management Inc. bought a new stake in Coupa Software during the 3rd quarter valued at $24,428,000. Janus Henderson Group PLC bought a new stake in Coupa Software during the 2nd quarter valued at $18,242,000. Finally, Soma Equity Partners LP increased its stake in Coupa Software by 60.0% during the 3rd quarter. Soma Equity Partners LP now owns 1,120,000 shares of the technology company’s stock valued at $34,888,000 after purchasing an additional 420,000 shares in the last quarter. Institutional investors own 75.09% of the company’s stock.
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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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