Coupa Software (COUP) Upgraded to “Buy” at Zacks Investment Research

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Zacks Investment Research upgraded shares of Coupa Software (NASDAQ:COUP) from a hold rating to a buy rating in a research report sent to investors on Thursday. Zacks Investment Research currently has $68.00 price objective 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. “

Several other equities research analysts also recently weighed in on COUP. UBS Group decreased their price target on shares of Coupa Software from $90.00 to $80.00 and set an outperform rating for the company in a research note on Tuesday. Barclays lifted their price target on shares of Coupa Software from $69.00 to $71.00 and gave the company an equal weight rating in a research note on Tuesday. Loop Capital raised shares of Coupa Software from a hold rating to a buy rating and set a $72.00 price target for the company in a research note on Friday, November 30th. Royal Bank of Canada lifted their price target on shares of Coupa Software to $83.00 and gave the company an outperform rating in a research note on Wednesday, September 5th. Finally, Raymond James lifted their price target on shares of Coupa Software from $60.00 to $86.00 and gave the company an outperform rating in a research note on Wednesday, September 5th. Six equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. The company has a consensus rating of Buy and a consensus price target of $64.35.

NASDAQ COUP traded down $2.19 during mid-day trading on Thursday, reaching $63.94. 12,973 shares of the stock were exchanged, compared to its average volume of 1,157,477. Coupa Software has a one year low of $30.65 and a one year high of $84.53. The company has a market capitalization of $3.54 billion, a PE ratio of -85.00 and a beta of 1.76.

Coupa Software (NASDAQ:COUP) last announced its earnings results on Monday, December 3rd. The technology company reported $0.08 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.03) by $0.11. Coupa Software had a negative net margin of 19.93% and a negative return on equity of 14.93%. The business had revenue of $67.46 million during the quarter, compared to the consensus estimate of $62.59 million. During the same quarter last year, the firm earned ($0.05) earnings per share. Coupa Software’s quarterly revenue was up 42.5% on a year-over-year basis. As a group, analysts anticipate that Coupa Software will post -0.94 earnings per share for the current year.

In other news, Director Veenendaal Frank Van sold 1,000 shares of Coupa Software stock in a transaction dated Friday, September 14th. The shares were sold at an average price of $80.30, for a total transaction of $80,300.00. Following the completion of the transaction, the director now directly owns 123,635 shares in the company, valued at $9,927,890.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Robert Bernshteyn sold 63,225 shares of Coupa Software stock in a transaction dated Monday, September 17th. The shares were sold at an average price of $77.24, for a total transaction of $4,883,499.00. Following the transaction, the chief executive officer now owns 204,218 shares of the company’s stock, valued at $15,773,798.32. The disclosure for this sale can be found here. Insiders have sold 284,248 shares of company stock valued at $19,036,803 over the last quarter. Corporate insiders own 6.50% of the company’s stock.

Several hedge funds and other institutional investors have recently modified their holdings of COUP. BlackRock Inc. grew its holdings in shares of Coupa Software by 58.9% during the second quarter. BlackRock Inc. now owns 3,042,360 shares of the technology company’s stock valued at $189,357,000 after buying an additional 1,128,149 shares during the last quarter. Jackson Square Partners LLC acquired a new position in shares of Coupa Software during the third quarter valued at about $87,361,000. FMR LLC grew its holdings in shares of Coupa Software by 42.3% during the second quarter. FMR LLC now owns 1,774,407 shares of the technology company’s stock valued at $110,439,000 after buying an additional 527,529 shares during the last quarter. Soros Fund Management LLC acquired a new position in shares of Coupa Software during the second quarter valued at about $31,120,000. Finally, Vanguard Group Inc. grew its holdings in shares of Coupa Software by 11.3% during the third quarter. Vanguard Group Inc. now owns 4,610,782 shares of the technology company’s stock valued at $364,712,000 after buying an additional 467,714 shares during the last quarter. Hedge funds and other institutional investors own 96.79% of the company’s stock.

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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