Coupa Software (COUP) Price Target Raised to $72.00
Coupa Software (NASDAQ:COUP) had its target price hoisted by Loop Capital to $72.00 in a research note released on Wednesday morning, The Fly reports. Loop Capital currently has a hold rating on the technology company’s stock.
Several other analysts have also recently weighed in on the company. Raymond James raised their price target on Coupa Software from $60.00 to $86.00 and gave the company an outperform rating in a report on Wednesday. Needham & Company LLC increased their price objective on Coupa Software from $63.00 to $83.00 and gave the company a buy rating in a research report on Wednesday. Royal Bank of Canada increased their price objective on Coupa Software to $83.00 and gave the company an outperform rating in a research report on Wednesday. Cantor Fitzgerald increased their price objective on Coupa Software from $67.00 to $92.00 and gave the company an overweight rating in a research report on Wednesday. Finally, Morgan Stanley increased their price objective on Coupa Software from $57.00 to $62.00 and gave the company an equal weight rating in a research report on Tuesday. Six investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. The stock presently has a consensus rating of Buy and a consensus price target of $63.69.
NASDAQ:COUP opened at $78.01 on Wednesday. Coupa Software has a twelve month low of $30.08 and a twelve month high of $84.53. The stock has a market capitalization of $4.38 billion, a price-to-earnings ratio of -102.64 and a beta of 1.09. The company has a debt-to-equity ratio of 0.67, a quick ratio of 3.27 and a current ratio of 3.27.
Institutional investors and hedge funds have recently bought and sold shares of the stock. SG Americas Securities LLC bought a new position in Coupa Software during the 2nd quarter worth approximately $153,000. GAM Holding AG bought a new position in Coupa Software during the 2nd quarter worth approximately $204,000. Quantitative Systematic Strategies LLC bought a new position in Coupa Software during the 2nd quarter worth approximately $211,000. StepStone Group LP bought a new position in Coupa Software during the 1st quarter worth approximately $186,000. Finally, Great West Life Assurance Co. Can grew its position in Coupa Software by 50.5% during the 2nd quarter. Great West Life Assurance Co. Can now owns 4,064 shares of the technology company’s stock worth $253,000 after acquiring an additional 1,364 shares during the last quarter. Institutional investors and hedge funds own 98.31% of the company’s stock.
About Coupa Software
Coupa Software Incorporated provides cloud-based spend management platform. The company's platform connects organization with suppliers globally; and provides visibility into and control over how companies spend money, as well as enables businesses to achieve savings that drive profitability. Its platform consists of procurement, invoicing, and expense management modules that form its transactional engine and capture a company's spend; and offers supporting modules, including sourcing, spend analysis, contract management, supplier management, and inventory management.
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