Coupa Software (NASDAQ:COUP) Now Covered by Canaccord Genuity

Canaccord Genuity initiated coverage on shares of Coupa Software (NASDAQ:COUP) in a report published on Thursday, BenzingaRatingsTable reports. The firm issued a buy rating and a $171.00 price target on the technology company’s stock.

Other equities analysts have also issued research reports about the stock. SunTrust Banks lifted their price target on shares of Coupa Software from $120.00 to $170.00 and gave the stock a buy rating in a report on Wednesday, September 4th. ValuEngine upgraded shares of Coupa Software from a buy rating to a strong-buy rating in a report on Friday, September 6th. Cantor Fitzgerald set a $166.00 target price on shares of Coupa Software and gave the company a buy rating in a report on Wednesday, September 4th. Loop Capital boosted their target price on shares of Coupa Software to $125.00 and gave the company a buy rating in a report on Thursday, June 6th. Finally, Royal Bank of Canada boosted their target price on shares of Coupa Software from $135.00 to $165.00 and gave the company an outperform rating in a report on Wednesday, September 4th. Six investment analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has assigned a strong buy rating to the company. The company currently has an average rating of Buy and a consensus target price of $153.05.

Shares of NASDAQ:COUP traded down $4.46 during mid-day trading on Thursday, reaching $131.72. 2,653,481 shares of the company’s stock were exchanged, compared to its average volume of 1,559,622. The firm has a market capitalization of $8.56 billion, a price-to-earnings ratio of -197.23 and a beta of 1.60. The business’s fifty day moving average price is $139.63 and its 200-day moving average price is $116.46. The company has a debt-to-equity ratio of 1.25, a quick ratio of 2.13 and a current ratio of 2.13. Coupa Software has a twelve month low of $52.01 and a twelve month high of $156.16.

Coupa Software (NASDAQ:COUP) last issued its quarterly earnings results on Tuesday, September 3rd. The technology company reported ($0.25) EPS for the quarter, topping analysts’ consensus estimates of ($0.44) by $0.19. The company had revenue of $95.00 million for the quarter, compared to analyst estimates of $85.38 million. Coupa Software had a negative net margin of 20.91% and a negative return on equity of 13.73%. Coupa Software’s revenue was up 54.0% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.05 earnings per share. Analysts predict that Coupa Software will post -1.02 EPS for the current fiscal year.

In other news, CEO Robert Bernshteyn sold 63,225 shares of the company’s stock in a transaction dated Monday, June 17th. The shares were sold at an average price of $122.25, for a total transaction of $7,729,256.25. Following the transaction, the chief executive officer now owns 217,632 shares in the company, valued at $26,605,512. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Henry Tayloe Stansbury sold 10,000 shares of the company’s stock in a transaction dated Thursday, September 5th. The shares were sold at an average price of $148.45, for a total transaction of $1,484,500.00. Following the transaction, the director now owns 18,307 shares in the company, valued at approximately $2,717,674.15. The disclosure for this sale can be found here. In the last 90 days, insiders sold 275,976 shares of company stock worth $37,309,318. 5.30% of the stock is owned by company insiders.

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Morgan Stanley raised its holdings in shares of Coupa Software by 1.9% during the second quarter. Morgan Stanley now owns 5,752,089 shares of the technology company’s stock valued at $728,271,000 after purchasing an additional 105,486 shares during the period. Vanguard Group Inc. raised its holdings in shares of Coupa Software by 1.0% during the second quarter. Vanguard Group Inc. now owns 5,394,454 shares of the technology company’s stock valued at $682,992,000 after purchasing an additional 51,060 shares during the period. BlackRock Inc. raised its holdings in shares of Coupa Software by 9.2% during the first quarter. BlackRock Inc. now owns 4,594,228 shares of the technology company’s stock valued at $417,984,000 after purchasing an additional 387,325 shares during the period. FMR LLC raised its holdings in shares of Coupa Software by 86.9% during the first quarter. FMR LLC now owns 3,467,506 shares of the technology company’s stock valued at $315,474,000 after purchasing an additional 1,612,326 shares during the period. Finally, Whale Rock Capital Management LLC raised its holdings in shares of Coupa Software by 14.6% during the second quarter. Whale Rock Capital Management LLC now owns 3,141,702 shares of the technology company’s stock valued at $397,771,000 after purchasing an additional 399,401 shares during the period.

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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