Coupa Software (COUP) Raised to Buy at Zacks Investment Research
Zacks Investment Research upgraded shares of Coupa Software (NASDAQ:COUP) from a hold rating to a buy rating in a research report released on Thursday. The brokerage currently has $45.00 price target on the technology company’s stock.
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 weighed in on COUP. ValuEngine raised shares of Coupa Software from a sell rating to a hold rating in a research report on Wednesday, October 18th. Royal Bank of Canada reaffirmed a buy rating and issued a $41.00 target price on shares of Coupa Software in a research report on Wednesday, November 15th. Barclays reaffirmed a hold rating and issued a $38.00 target price (up previously from $34.00) on shares of Coupa Software in a research report on Monday, November 27th. Cantor Fitzgerald reaffirmed a buy rating and issued a $36.00 target price on shares of Coupa Software in a research report on Tuesday, December 5th. Finally, Raymond James Financial reaffirmed a buy rating and issued a $40.00 target price on shares of Coupa Software in a research report on Tuesday, December 12th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and thirteen have issued a buy rating to the company’s stock. Coupa Software currently has a consensus rating of Buy and an average price target of $38.52.
Coupa Software (NASDAQ:COUP) last issued its quarterly earnings data on Monday, December 4th. The technology company reported ($0.05) earnings per share (EPS) for the quarter, topping the Thomson Reuters’ 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 company had revenue of $47.30 million during the quarter, compared to the consensus estimate of $45.02 million. During the same quarter in the prior year, the firm earned ($0.22) earnings per share. The firm’s revenue was up 33.6% compared to the same quarter last year. equities analysts anticipate that Coupa Software will post -0.94 earnings per share for the current fiscal year.
In other Coupa Software news, insider Ravi Thakur sold 11,240 shares of the stock in a transaction on Thursday, February 1st. The shares were sold at an average price of $39.02, for a total value of $438,584.80. Following the completion of the sale, the insider now owns 14,306 shares in the company, valued at $558,220.12. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, insider Anthony D. Tiscornia sold 781 shares of the stock in a transaction on Monday, November 13th. The shares were sold at an average price of $33.18, for a total transaction of $25,913.58. Following the completion of the sale, the insider now owns 521 shares of the company’s stock, valued at approximately $17,286.78. The disclosure for this sale can be found here. In the last quarter, insiders sold 358,346 shares of company stock valued at $12,221,222. Corporate insiders own 32.10% of the company’s stock.
Hedge funds have recently made changes to their positions in the business. Verition Fund Management LLC acquired a new stake in Coupa Software in the second quarter valued at $384,000. Vanguard Group Inc. lifted its stake 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 worth $78,254,000 after buying an additional 1,950,862 shares during the last quarter. AlpInvest Partners B.V. acquired a new stake in shares of Coupa Software during the 3rd quarter worth about $10,236,000. Hershey Trust Co. lifted its stake in shares of Coupa Software by 1,252.0% during the 4th quarter. Hershey Trust Co. now owns 25,025 shares of the technology company’s stock worth $781,000 after buying an additional 23,174 shares during the last quarter. Finally, Crestline Management LP acquired a new stake in shares of Coupa Software during the 3rd quarter worth about $909,000. Hedge funds and other institutional investors own 75.09% 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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