Coupa Software (NASDAQ:COUP) Earns Buy Rating from Northland Securities
Coupa Software (NASDAQ:COUP)‘s stock had its “buy” rating restated by equities researchers at Northland Securities in a report released on Thursday. They currently have a $38.00 price objective on the technology company’s stock. Northland Securities’ target price would indicate a potential upside of 24.51% from the stock’s previous close.
A number of other equities analysts have also recently weighed in on COUP. First Analysis began coverage on Coupa Software in a report on Monday. They issued an “overweight” rating and a $37.00 price target for the company. Barclays PLC upped their price target on Coupa Software from $28.00 to $32.00 and gave the stock an “equal weight” rating in a report on Tuesday, June 6th. BTIG Research initiated coverage on Coupa Software in a report on Monday, June 12th. They issued a “buy” rating and a $44.00 price target for the company. J P Morgan Chase & Co reiterated a “neutral” rating and set a $31.00 target price (up from $27.00) on shares of Coupa Software in a research note on Tuesday, June 6th. Finally, Raymond James Financial, Inc. reiterated an “outperform” rating and set a $40.00 target price (up from $34.00) on shares of Coupa Software in a research note on Wednesday, June 7th. One analyst has rated the stock with a sell rating, five have assigned a hold rating and seven have assigned a buy rating to the stock. The stock presently has an average rating of “Hold” and an average target price of $34.45.
Shares of Coupa Software (NASDAQ:COUP) opened at 30.52 on Thursday. The firm’s 50-day moving average is $30.39 and its 200-day moving average is $28.70. The firm’s market cap is $1.62 billion. Coupa Software has a 12-month low of $22.50 and a 12-month high of $41.61.
Coupa Software (NASDAQ:COUP) last released its quarterly earnings results on Monday, June 5th. The technology company reported ($0.09) earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.14) by $0.05. The company had revenue of $41.10 million during the quarter, compared to analysts’ expectations of $38.33 million. The firm’s revenue was up 40.8% compared to the same quarter last year. During the same quarter in the prior year, the company earned ($1.76) EPS. Equities analysts expect that Coupa Software will post ($0.51) earnings per share for the current fiscal year.
In other news, insider Ravi Thakur sold 11,240 shares of the stock in a transaction that occurred on Thursday, June 1st. The stock was sold at an average price of $35.13, for a total transaction of $394,861.20. Following the completion of the transaction, the insider now directly owns 79,061 shares in the company, valued at approximately $2,777,412.93. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, CEO Robert Bernshteyn sold 1,841 shares of the stock in a transaction that occurred on Wednesday, June 21st. The shares were sold at an average price of $30.70, for a total value of $56,518.70. Following the transaction, the chief executive officer now owns 452,305 shares of the company’s stock, valued at $13,885,763.50. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 1,776,719 shares of company stock valued at $55,474,606. Company insiders own 32.10% of the company’s stock.
Several institutional investors have recently added to or reduced their stakes in COUP. State Street Corp purchased a new stake in Coupa Software during the fourth quarter valued at about $2,224,000. FMR LLC purchased a new stake in Coupa Software during the fourth quarter valued at about $603,000. Metropolitan Life Insurance Co. NY purchased a new stake in Coupa Software during the fourth quarter valued at about $260,000. Norges Bank purchased a new stake in Coupa Software during the fourth quarter valued at about $500,000. Finally, Teachers Advisors LLC purchased a new stake in Coupa Software during the fourth quarter valued at about $268,000. Institutional investors own 52.87% 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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