Coupa Software (COUP) Given New $83.00 Price Target at Royal Bank of Canada

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Coupa Software (NASDAQ:COUP) had its price objective lifted by Royal Bank of Canada to $83.00 in a report released on Wednesday, The Fly reports. They currently have an outperform rating on the technology company’s stock.

COUP has been the topic of a number of other research reports. Raymond James boosted their price objective on shares of Coupa Software from $52.00 to $60.00 and gave the stock an outperform rating in a research report on Tuesday, June 5th. Barclays boosted their price objective on shares of Coupa Software from $53.00 to $58.00 and gave the stock an equal weight rating in a research report on Wednesday, August 15th. Needham & Company LLC boosted their price objective on shares of Coupa Software from $55.00 to $63.00 and gave the stock a buy rating in a research report on Tuesday, June 5th. Loop Capital boosted their price objective on shares of Coupa Software to $55.00 and gave the stock a neutral rating in a research report on Tuesday, June 5th. They noted that the move was a valuation call. Finally, Oppenheimer boosted their price objective on shares of Coupa Software from $62.00 to $77.00 and gave the stock an outperform rating in a research report on Wednesday, August 29th. Six equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. The stock has an average rating of Buy and an average price target of $63.69.

Shares of COUP stock opened at $78.01 on Wednesday. The company has a debt-to-equity ratio of 0.67, a quick ratio of 3.27 and a current ratio of 3.27. The firm has a market capitalization of $4.38 billion, a PE ratio of -102.64 and a beta of 1.09. Coupa Software has a 12 month low of $30.08 and a 12 month high of $84.53.

In other Coupa Software news, CFO Todd R. Ford sold 12,500 shares of the company’s stock in a transaction on Monday, June 18th. The shares were sold at an average price of $63.05, for a total transaction of $788,125.00. Following the sale, the chief financial officer now directly owns 21,872 shares of the company’s stock, valued at $1,379,029.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Anthony D. Tiscornia sold 781 shares of the company’s stock in a transaction on Tuesday, June 12th. The stock was sold at an average price of $60.25, for a total transaction of $47,055.25. Following the sale, the insider now directly owns 521 shares in the company, valued at $31,390.25. The disclosure for this sale can be found here. Insiders have sold 343,998 shares of company stock worth $20,269,021 over the last ninety days. Insiders own 6.50% of the company’s stock.

A number of hedge funds and other institutional investors have recently bought and sold shares of COUP. Whale Rock Capital Management LLC bought a new stake in Coupa Software during the first quarter worth $88,552,000. Alkeon Capital Management LLC bought a new position in shares of Coupa Software in the first quarter valued at about $60,296,000. BlackRock Inc. raised its position in shares of Coupa Software by 58.9% in the second quarter. BlackRock Inc. now owns 3,042,360 shares of the technology company’s stock valued at $189,357,000 after purchasing an additional 1,128,149 shares during the period. FMR LLC raised its position in shares of Coupa Software by 42.3% in the second quarter. FMR LLC now owns 1,774,407 shares of the technology company’s stock valued at $110,439,000 after purchasing an additional 527,529 shares during the period. Finally, Soros Fund Management LLC bought a new position in shares of Coupa Software in the second quarter valued at about $31,120,000. 98.31% of the stock is currently owned by hedge funds and other institutional investors.

Coupa Software Company Profile

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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