Coupa Software (NASDAQ:COUP) Releases Q3 2023 Earnings Guidance

Coupa Software (NASDAQ:COUPGet Rating) issued an update on its third quarter 2023 earnings guidance on Tuesday morning. The company provided earnings per share (EPS) guidance of $0.08-$0.10 for the period, compared to the consensus estimate of $0.06. The company issued revenue guidance of $211.00 million-$214.00 million, compared to the consensus revenue estimate of $214.06 million. Coupa Software also updated its FY 2023 guidance to $0.37-$0.44 EPS.

Coupa Software Stock Down 1.1 %

Shares of COUP traded down $0.71 on Friday, hitting $61.47. 26,112 shares of the stock traded hands, compared to its average volume of 2,593,317. The company has a market capitalization of $4.67 billion, a PE ratio of -13.55 and a beta of 1.50. The company has a debt-to-equity ratio of 6.81, a quick ratio of 1.82 and a current ratio of 1.82. The business has a 50 day simple moving average of $66.67 and a 200 day simple moving average of $75.11. Coupa Software has a one year low of $50.54 and a one year high of $259.90.

Coupa Software (NASDAQ:COUPGet Rating) last announced its quarterly earnings results on Tuesday, September 6th. The technology company reported $0.20 earnings per share for the quarter, beating the consensus estimate of $0.09 by $0.11. The company had revenue of $211.10 million during the quarter, compared to the consensus estimate of $203.99 million. Coupa Software had a negative net margin of 43.73% and a negative return on equity of 24.29%. The firm’s quarterly revenue was up 17.8% compared to the same quarter last year. During the same quarter last year, the firm earned ($0.35) earnings per share. As a group, equities analysts forecast that Coupa Software will post -2.27 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on COUP shares. Piper Sandler lifted their target price on shares of Coupa Software from $65.00 to $67.00 and gave the stock a neutral rating in a research report on Wednesday, September 7th. Raymond James cut their target price on shares of Coupa Software from $90.00 to $75.00 in a research report on Wednesday, September 7th. Credit Suisse Group began coverage on shares of Coupa Software in a research note on Friday. They set an underperform rating and a $60.00 price target on the stock. BMO Capital Markets dropped their price target on shares of Coupa Software from $85.00 to $72.00 in a research note on Wednesday, August 24th. Finally, KeyCorp dropped their price target on shares of Coupa Software from $75.00 to $70.00 and set an overweight rating on the stock in a research note on Tuesday, August 30th. Four equities research analysts have rated the stock with a sell rating, eight have given a hold rating and eleven have assigned a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of Hold and a consensus price target of $90.35.

Insider Transactions at Coupa Software

In other news, CFO Anthony D. Tiscornia sold 1,449 shares of the company’s stock in a transaction that occurred on Wednesday, September 21st. The shares were sold at an average price of $66.20, for a total value of $95,923.80. Following the completion of the sale, the chief financial officer now owns 7,874 shares of the company’s stock, valued at approximately $521,258.80. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, CAO Maurizio Baratta sold 598 shares of the stock in a transaction that occurred on Wednesday, September 21st. The shares were sold at an average price of $66.20, for a total transaction of $39,587.60. Following the completion of the sale, the chief accounting officer now owns 5,265 shares of the company’s stock, valued at $348,543. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Anthony D. Tiscornia sold 1,449 shares of the stock in a transaction that occurred on Wednesday, September 21st. The shares were sold at an average price of $66.20, for a total transaction of $95,923.80. Following the sale, the chief financial officer now directly owns 7,874 shares of the company’s stock, valued at approximately $521,258.80. The disclosure for this sale can be found here. In the last quarter, insiders sold 19,620 shares of company stock valued at $1,342,253. Company insiders own 2.20% of the company’s stock.

Institutional Investors Weigh In On Coupa Software

A number of hedge funds and other institutional investors have recently bought and sold shares of COUP. Advisors Asset Management Inc. lifted its position in Coupa Software by 56.9% during the first quarter. Advisors Asset Management Inc. now owns 965 shares of the technology company’s stock valued at $98,000 after acquiring an additional 350 shares during the last quarter. Healthcare of Ontario Pension Plan Trust Fund acquired a new position in Coupa Software during the 1st quarter valued at approximately $139,000. Quantamental Technologies LLC acquired a new position in Coupa Software during the 1st quarter valued at approximately $202,000. Wellington Management Group LLP acquired a new position in Coupa Software during the 1st quarter valued at approximately $213,000. Finally, Captrust Financial Advisors increased its stake in Coupa Software by 14.0% during the 1st quarter. Captrust Financial Advisors now owns 4,194 shares of the technology company’s stock valued at $426,000 after purchasing an additional 515 shares in the last quarter.

About Coupa Software

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Coupa Software Incorporated provides cloud-based business spend management platform that connects its customers with suppliers worldwide. The company provides visibility into and control over how companies spend money, optimize supply chains, and manage liquidity, as well as enables businesses to achieve savings that drive profitability.

Further Reading

Earnings History and Estimates for Coupa Software (NASDAQ:COUP)

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