Coupa Software (NASDAQ:COUP) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a report issued on Wednesday, March 7th. The brokerage presently has a $52.00 price objective on the technology company’s stock. Zacks Investment Research‘s target price indicates a potential upside of 8.42% 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 brokerages have also recently issued reports on COUP. Barclays lifted their price objective on shares of Coupa Software from $38.00 to $47.00 and gave the company an “overweight” rating in a report on Monday, March 5th. SunTrust Banks started coverage on shares of Coupa Software in a report on Wednesday, January 31st. They set a “buy” rating and a $45.00 price objective for the company. Morgan Stanley lifted their price objective 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 objective on shares of Coupa Software and gave the stock a “buy” rating in a research report on Wednesday, January 17th. Finally, Cantor Fitzgerald reaffirmed a “buy” rating and issued a $38.00 price objective on shares of Coupa Software in a research report on Monday, December 11th. Five analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. The company has a consensus rating of “Buy” and an average target price of $46.13.
Shares of Coupa Software (COUP) traded up $0.43 during midday trading on Wednesday, reaching $47.96. 1,107,412 shares of the company were exchanged, compared to its average volume of 875,302. Coupa Software has a fifty-two week low of $22.50 and a fifty-two week high of $50.69. The company has a market capitalization of $2,640.00 and a P/E ratio of -57.78.
Coupa Software (NASDAQ:COUP) last posted its quarterly earnings results on Monday, March 12th. The technology company reported $0.02 earnings per share for the quarter, beating the consensus estimate of ($0.15) by $0.17. Coupa Software had a negative net margin of 23.45% and a negative return on equity of 20.33%. The firm had revenue of $53.80 million during the quarter, compared to the consensus estimate of $48.64 million. During the same period in the previous year, the firm posted ($0.05) earnings per share. The business’s revenue was up 41.5% compared to the same quarter last year. equities research analysts anticipate that Coupa Software will post -0.91 EPS for the current year.
In other Coupa Software news, SVP Ravi Thakur sold 11,240 shares of the business’s stock in a transaction that occurred on Thursday, March 1st. The shares were sold at an average price of $44.38, for a total value of $498,831.20. Following the completion of the transaction, the senior vice president now owns 14,306 shares of the company’s stock, valued at approximately $634,900.28. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, insider Anthony D. Tiscornia sold 781 shares of the business’s stock in a transaction that occurred on Monday, March 12th. The stock was sold at an average price of $48.66, for a total transaction of $38,003.46. Following the completion of the transaction, the insider now directly owns 521 shares of the company’s stock, valued at approximately $25,351.86. The disclosure for this sale can be found here. Insiders have sold a total of 299,870 shares of company stock worth $11,185,764 in the last ninety days. 32.10% of the stock is currently owned by insiders.
A number of hedge funds have recently added to or reduced their stakes in the business. American International Group Inc. grew its stake in Coupa Software by 8.1% in the 3rd quarter. American International Group Inc. now owns 19,989 shares of the technology company’s stock worth $623,000 after buying an additional 1,494 shares in the last quarter. Bank of New York Mellon Corp boosted its stake in shares of Coupa Software by 2.5% in the 3rd quarter. Bank of New York Mellon Corp now owns 113,344 shares of the technology company’s stock valued at $3,531,000 after purchasing an additional 2,782 shares in the last quarter. Swiss National Bank boosted its stake in shares of Coupa Software by 7.1% in the 4th quarter. Swiss National Bank now owns 45,100 shares of the technology company’s stock valued at $1,408,000 after purchasing an additional 3,000 shares in the last quarter. First Trust Advisors LP boosted its stake in shares of Coupa Software by 9.2% in the 4th quarter. First Trust Advisors LP now owns 44,879 shares of the technology company’s stock valued at $1,401,000 after purchasing an additional 3,787 shares in the last quarter. Finally, Ensemble Capital Management LLC purchased a new stake in shares of Coupa Software in the 4th quarter valued at $203,000. 88.39% of the stock is owned by institutional investors and hedge funds.
ILLEGAL ACTIVITY WARNING: “Coupa Software (COUP) Upgraded to “Buy” at Zacks Investment Research” was originally reported by The Ledger Gazette and is the sole property of of The Ledger Gazette. If you are viewing this piece on another site, it was copied illegally and reposted in violation of US & international trademark and copyright legislation. The legal version of this piece can be read at https://ledgergazette.com/2018/03/15/coupa-software-coup-raised-to-buy-at-zacks-investment-research.html.
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.
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Coupa Software Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Coupa Software and related companies with MarketBeat.com's FREE daily email newsletter.