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

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Coupa Software (NASDAQ:COUP) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a report issued on Thursday. The firm currently has a $101.00 price target on the technology company’s stock. Zacks Investment Research‘s target price indicates a potential upside of 6.50% from the company’s previous close.

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. “

COUP has been the topic of a number of other research reports. Royal Bank of Canada upped their target price on shares of Coupa Software from $84.00 to $104.00 and gave the company an “outperform” rating in a research report on Friday, March 8th. Cantor Fitzgerald reissued a “buy” rating and set a $92.00 price target on shares of Coupa Software in a research report on Sunday, January 13th. Barclays increased their price target on shares of Coupa Software from $69.00 to $71.00 and gave the stock an “equal weight” rating in a research report on Tuesday, December 4th. Morgan Stanley increased their price target on shares of Coupa Software from $70.00 to $76.00 and gave the stock an “equal weight” rating in a research report on Friday, March 8th. Finally, Oppenheimer increased their price target on shares of Coupa Software from $85.00 to $100.00 and gave the stock an “outperform” rating in a research report on Wednesday. Five equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. Coupa Software presently has a consensus rating of “Buy” and an average target price of $93.00.

NASDAQ COUP traded up $4.88 during trading hours on Thursday, reaching $94.84. The company had a trading volume of 2,258,800 shares, compared to its average volume of 1,556,685. Coupa Software has a 1-year low of $43.89 and a 1-year high of $99.64. The stock has a market capitalization of $5.35 billion, a P/E ratio of -141.55 and a beta of 1.87.

Coupa Software (NASDAQ:COUP) last posted its earnings results on Monday, March 11th. The technology company reported ($0.18) EPS for the quarter, beating the Zacks’ consensus estimate of ($0.26) by $0.08. Coupa Software had a negative net margin of 21.33% and a negative return on equity of 14.84%. The company had revenue of $74.91 million for the quarter, compared to analysts’ expectations of $68.07 million. On average, equities research analysts anticipate that Coupa Software will post -0.64 EPS for the current fiscal year.

In related news, insider Anthony D. Tiscornia sold 781 shares of the company’s stock in a transaction that occurred on Tuesday, March 12th. The shares were sold at an average price of $95.65, for a total transaction of $74,702.65. Following the sale, the insider now directly owns 521 shares in the company, valued at $49,833.65. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Robert Bernshteyn sold 63,225 shares of the company’s stock in a transaction that occurred on Monday, December 17th. The stock was sold at an average price of $61.60, for a total transaction of $3,894,660.00. Following the sale, the chief executive officer now owns 208,775 shares in the company, valued at $12,860,540. The disclosure for this sale can be found here. Insiders have sold 296,631 shares of company stock worth $22,811,237 over the last 90 days. Insiders own 6.50% of the company’s stock.

Several hedge funds have recently added to or reduced their stakes in the stock. American Century Companies Inc. increased its stake in shares of Coupa Software by 71.9% during the fourth quarter. American Century Companies Inc. now owns 99,586 shares of the technology company’s stock worth $6,260,000 after buying an additional 41,653 shares during the period. Norges Bank purchased a new stake in shares of Coupa Software during the fourth quarter worth approximately $19,200,000. FMR LLC increased its stake in shares of Coupa Software by 4.4% during the fourth quarter. FMR LLC now owns 1,855,180 shares of the technology company’s stock worth $116,616,000 after buying an additional 77,458 shares during the period. Amalgamated Bank increased its stake in Coupa Software by 150.4% in the fourth quarter. Amalgamated Bank now owns 7,823 shares of the technology company’s stock valued at $492,000 after purchasing an additional 4,699 shares during the last quarter. Finally, Macquarie Group Ltd. increased its stake in Coupa Software by 21.6% in the fourth quarter. Macquarie Group Ltd. now owns 243,625 shares of the technology company’s stock valued at $15,314,000 after purchasing an additional 43,249 shares during the last quarter. Hedge funds and other institutional investors own 98.20% of the company’s stock.

About Coupa Software

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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