Zacks Investment Research downgraded shares of Coupa Software (NASDAQ:COUP) from a buy rating to a hold rating in a report issued on Monday.
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. “
A number of other brokerages have also recently issued reports on COUP. Barclays upgraded Coupa Software from an equal weight rating to an overweight rating and set a $38.00 target price for the company in a report on Monday, January 8th. Raymond James Financial reiterated a buy rating and set a $40.00 target price on shares of Coupa Software in a report on Tuesday, December 12th. Royal Bank of Canada reiterated a buy rating and set a $41.00 target price on shares of Coupa Software in a report on Wednesday, November 15th. Oppenheimer initiated coverage on Coupa Software in a report on Thursday, December 21st. They set a buy rating and a $41.00 target price for the company. Finally, Morgan Stanley boosted their target price on Coupa Software from $35.00 to $42.00 and gave the stock an equal weight rating in a report on Monday, January 29th. They noted that the move was a valuation call. Four research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. The company has an average rating of Buy and an average target price of $41.27.
Coupa Software (NASDAQ:COUP) last posted its quarterly earnings results on Monday, March 12th. The technology company reported $0.02 EPS for the quarter, beating the consensus estimate of ($0.15) by $0.17. Coupa Software had a negative return on equity of 20.40% and a negative net margin of 24.37%. The company had revenue of $53.80 million during the quarter, compared to analysts’ expectations of $48.64 million. During the same quarter in the previous year, the business earned ($0.05) EPS. The firm’s revenue was up 41.5% on a year-over-year basis. analysts forecast that Coupa Software will post -0.94 earnings per share for the current year.
In other Coupa Software news, SVP Ravi Thakur sold 11,240 shares of the company’s stock in a transaction that occurred on Thursday, March 1st. The stock was sold at an average price of $44.38, for a total value of $498,831.20. Following the completion of the transaction, the senior vice president now owns 14,306 shares in the company, valued at approximately $634,900.28. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Anthony D. Tiscornia sold 1,293 shares of the company’s stock in a transaction that occurred on Friday, January 12th. The stock was sold at an average price of $33.91, for a total value of $43,845.63. Following the completion of the transaction, the insider now owns 1,033 shares of the company’s stock, valued at approximately $35,029.03. The disclosure for this sale can be found here. In the last 90 days, insiders sold 287,753 shares of company stock valued at $10,593,997. 32.10% of the stock is owned by company insiders.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in COUP. Northern Trust Corp boosted its holdings in Coupa Software by 83.7% in the 2nd quarter. Northern Trust Corp now owns 162,030 shares of the technology company’s stock worth $4,695,000 after acquiring an additional 73,839 shares during the period. State Street Corp raised its position in shares of Coupa Software by 299.8% in the 2nd quarter. State Street Corp now owns 520,042 shares of the technology company’s stock valued at $15,070,000 after purchasing an additional 389,965 shares in the last quarter. The Manufacturers Life Insurance Company raised its position in shares of Coupa Software by 211.3% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 23,904 shares of the technology company’s stock valued at $693,000 after purchasing an additional 16,226 shares in the last quarter. California State Teachers Retirement System raised its position in shares of Coupa Software by 205.2% in the 2nd quarter. California State Teachers Retirement System now owns 52,800 shares of the technology company’s stock valued at $1,530,000 after purchasing an additional 35,500 shares in the last quarter. Finally, First Trust Advisors LP acquired a new position in shares of Coupa Software in the 3rd quarter valued at approximately $1,280,000. Hedge funds and other institutional investors own 88.39% of the company’s stock.
About Coupa Software
Coupa Software Incorporated is a United States-based company, which provides a unified, cloud-based spend management platform that connects organizations with suppliers globally. The Company offers spend management cloud applications, which are pre-integrated. The platform offers consumerized financial applications.
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