Citigroup Cuts Coupa Software (NASDAQ:COUP) Price Target to $254.00

Coupa Software (NASDAQ:COUP) had its target price lowered by Citigroup from $272.00 to $254.00 in a research note published on Tuesday morning, The Fly reports. The brokerage currently has a neutral rating on the technology company’s stock.

Other analysts also recently issued reports about the company. Wolfe Research started coverage on Coupa Software in a research note on Thursday, April 22nd. They issued an outperform rating and a $310.00 price objective for the company. Piper Sandler decreased their price target on Coupa Software from $315.00 to $300.00 and set an overweight rating for the company in a research report on Tuesday. Needham & Company LLC reaffirmed a buy rating on shares of Coupa Software in a research report on Wednesday, March 17th. The Goldman Sachs Group raised Coupa Software from a buy rating to a conviction-buy rating in a research report on Monday, March 8th. Finally, JPMorgan Chase & Co. increased their price target on Coupa Software from $121.00 to $125.00 and gave the company an underweight rating in a research report on Wednesday, March 17th. They noted that the move was a valuation call. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating, fourteen have given a buy rating and one has issued a strong buy rating to the company’s stock. The company has a consensus rating of Buy and an average target price of $305.21.

Shares of Coupa Software stock opened at $223.47 on Tuesday. The stock has a market capitalization of $16.40 billion, a P/E ratio of -85.95 and a beta of 1.45. Coupa Software has a 52 week low of $214.14 and a 52 week high of $377.04. The business has a 50 day moving average of $247.62. The company has a current ratio of 0.80, a quick ratio of 0.80 and a debt-to-equity ratio of 0.86.

Coupa Software (NASDAQ:COUP) last issued its quarterly earnings data on Sunday, June 6th. The technology company reported $0.07 EPS for the quarter, topping the consensus estimate of ($1.01) by $1.08. Coupa Software had a negative return on equity of 22.19% and a negative net margin of 45.08%. Equities analysts expect that Coupa Software will post -3.71 EPS for the current fiscal year.

In related news, insider Mark Riggs sold 929 shares of Coupa Software stock in a transaction on Tuesday, May 25th. The stock was sold at an average price of $240.29, for a total transaction of $223,229.41. Following the completion of the sale, the insider now owns 1,722 shares of the company’s stock, valued at $413,779.38. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Robert Bernshteyn sold 50,000 shares of Coupa Software stock in a transaction on Monday, May 17th. The shares were sold at an average price of $224.25, for a total value of $11,212,500.00. Following the sale, the chief executive officer now directly owns 263,043 shares of the company’s stock, valued at approximately $58,987,392.75. The disclosure for this sale can be found here. Insiders sold 176,520 shares of company stock valued at $43,984,671 over the last ninety days. Corporate insiders own 2.60% of the company’s stock.

A number of large investors have recently bought and sold shares of COUP. Price T Rowe Associates Inc. MD raised its position in Coupa Software by 75.1% during the first quarter. Price T Rowe Associates Inc. MD now owns 8,881,490 shares of the technology company’s stock valued at $2,260,162,000 after purchasing an additional 3,810,279 shares in the last quarter. Viking Global Investors LP purchased a new stake in Coupa Software during the first quarter valued at about $456,732,000. Sands Capital Management LLC raised its position in Coupa Software by 48.1% during the first quarter. Sands Capital Management LLC now owns 1,417,228 shares of the technology company’s stock valued at $360,656,000 after purchasing an additional 460,168 shares in the last quarter. Artisan Partners Limited Partnership purchased a new stake in Coupa Software during the fourth quarter valued at about $423,560,000. Finally, Soma Equity Partners LP raised its position in Coupa Software by 27.6% during the first quarter. Soma Equity Partners LP now owns 925,000 shares of the technology company’s stock valued at $235,394,000 after purchasing an additional 200,000 shares in the last quarter.

Coupa Software Company Profile

Coupa Software Incorporated provides cloud-based business spend management platform. Its platform connects organizations with suppliers globally; and provides visibility into and control over how companies spend money, optimize supply chains, and manage liquidity, as well as enables businesses to achieve savings that drive profitability.

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