Coupa Software (NASDAQ:COUP) Earns Outperform Rating from Analysts at Wedbush

Wedbush initiated coverage on shares of Coupa Software (NASDAQ:COUP) in a research report report published on Thursday, BenzingaRatingsTable reports. The brokerage issued an outperform rating and a $168.00 target price on the technology company’s stock.

Several other research analysts have also commented on COUP. Raymond James lifted their price objective on shares of Coupa Software from $107.00 to $115.00 and gave the stock an outperform rating in a research note on Tuesday, June 4th. Morgan Stanley lifted their price objective on shares of Coupa Software from $90.00 to $111.00 and gave the stock an equal weight rating in a research note on Tuesday, June 4th. Loop Capital lifted their price objective on shares of Coupa Software to $125.00 and gave the stock a buy rating in a research note on Thursday, June 6th. SunTrust Banks lifted their price objective on shares of Coupa Software to $120.00 and gave the stock a buy rating in a research note on Tuesday, June 4th. Finally, Zacks Investment Research raised shares of Coupa Software from a sell rating to a hold rating in a research note on Tuesday, July 30th. Seven analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. The company has an average rating of Buy and a consensus target price of $120.72.

Shares of COUP stock traded up $1.25 on Thursday, reaching $137.45. The company’s stock had a trading volume of 1,046,846 shares, compared to its average volume of 1,393,133. The stock’s fifty day simple moving average is $134.31. Coupa Software has a 1 year low of $52.01 and a 1 year high of $148.00. The company has a debt-to-equity ratio of 0.07, a current ratio of 1.07 and a quick ratio of 1.07. The stock has a market capitalization of $8.41 billion, a P/E ratio of -205.15 and a beta of 1.61.

Coupa Software (NASDAQ:COUP) last posted its earnings results on Monday, June 3rd. The technology company reported $0.03 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.26) by $0.29. Coupa Software had a negative net margin of 21.22% and a negative return on equity of 14.29%. The firm had revenue of $81.30 million during the quarter, compared to analyst estimates of $73.85 million. During the same period last year, the firm posted ($0.01) earnings per share. Coupa Software’s revenue for the quarter was up 44.1% compared to the same quarter last year. On average, research analysts expect that Coupa Software will post -1.19 earnings per share for the current year.

In related news, CFO Todd R. Ford sold 112,500 shares of Coupa Software stock in a transaction dated Tuesday, June 11th. The stock was sold at an average price of $118.50, for a total value of $13,331,250.00. Following the completion of the sale, the chief financial officer now directly owns 30,595 shares in the company, valued at $3,625,507.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CAO Anthony D. Tiscornia sold 260 shares of Coupa Software stock in a transaction dated Wednesday, June 12th. The shares were sold at an average price of $118.81, for a total value of $30,890.60. Following the completion of the sale, the chief accounting officer now owns 260 shares of the company’s stock, valued at $30,890.60. The disclosure for this sale can be found here. Insiders sold 398,657 shares of company stock valued at $48,925,884 over the last 90 days. 5.30% of the stock is currently owned by corporate insiders.

Hedge funds have recently added to or reduced their stakes in the stock. Glynn Capital Management LLC grew its stake in shares of Coupa Software by 0.7% during the second quarter. Glynn Capital Management LLC now owns 171,229 shares of the technology company’s stock worth $21,679,000 after acquiring an additional 1,229 shares during the last quarter. Gabelli Funds LLC purchased a new stake in shares of Coupa Software during the second quarter worth about $4,178,000. Gamco Investors INC. ET AL purchased a new stake in shares of Coupa Software during the second quarter worth about $532,000. Pelham Capital Ltd. purchased a new stake in shares of Coupa Software during the second quarter worth about $94,777,000. Finally, Swiss National Bank grew its stake in shares of Coupa Software by 24.2% during the second quarter. Swiss National Bank now owns 105,100 shares of the technology company’s stock worth $13,307,000 after acquiring an additional 20,500 shares during the last quarter. Hedge funds and other institutional investors own 99.16% of the company’s stock.

Coupa Software Company Profile

Coupa Software, Inc engages in providing business spend management (BSM) solutions. It offers cloud-based BSM platform that delivers a broad range of capabilities that would typically require the purchase and use of multiple disparate point applications. Its platform consists of procurement, invoicing, expense management and payments modules that form the transactional engine for managing a company’s business spend.

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Analyst Recommendations for Coupa Software (NASDAQ:COUP)

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