Coupa Software (COUP) Rating Increased to Buy at Loop Capital

Loop Capital upgraded shares of Coupa Software (NASDAQ:COUP) from a hold rating to a buy rating in a research report report published on Friday, MarketBeat Ratings reports. Loop Capital currently has $72.00 price target on the technology company’s stock.

Several other brokerages have also recently issued reports on COUP. Needham & Company LLC increased their price target on shares of Coupa Software from $63.00 to $83.00 and gave the stock a buy rating in a research report on Wednesday, September 5th. Northland Securities cut shares of Coupa Software from an outperform rating to a market perform rating in a research report on Tuesday, September 11th. Zacks Investment Research cut shares of Coupa Software from a buy rating to a hold rating in a research report on Tuesday, November 6th. Royal Bank of Canada increased their price target on shares of Coupa Software to $83.00 and gave the stock an outperform rating in a research report on Wednesday, September 5th. Finally, Morgan Stanley increased their price target on shares of Coupa Software from $57.00 to $62.00 and gave the stock an equal weight rating in a research report on Tuesday, September 4th. Seven research analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. The stock has an average rating of Buy and an average target price of $63.69.

Shares of COUP stock opened at $68.80 on Friday. The stock has a market cap of $3.74 billion, a price-to-earnings ratio of -90.53 and a beta of 1.77. Coupa Software has a 1-year low of $30.65 and a 1-year high of $84.53.

Coupa Software (NASDAQ:COUP) last announced its earnings results on Tuesday, September 4th. The technology company reported ($0.17) earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.30) by $0.13. The company had revenue of $61.65 million during the quarter, compared to analyst estimates of $56.61 million. Coupa Software had a negative net margin of 22.52% and a negative return on equity of 16.73%. As a group, equities analysts forecast that Coupa Software will post -0.98 EPS for the current year.

In related news, CRO Steven M. Winter sold 11,336 shares of the firm’s stock in a transaction that occurred on Wednesday, September 12th. The shares were sold at an average price of $78.35, for a total value of $888,175.60. Following the sale, the executive now owns 12,795 shares of the company’s stock, valued at $1,002,488.25. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CEO Robert Bernshteyn sold 63,225 shares of the firm’s stock in a transaction that occurred on 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 completion of the sale, the chief executive officer now directly owns 204,218 shares in the company, valued at approximately $15,773,798.32. The disclosure for this sale can be found here. In the last ninety days, insiders sold 284,248 shares of company stock worth $19,036,803. 6.50% of the stock is owned by corporate insiders.

A number of large investors have recently modified their holdings of the stock. Great West Life Assurance Co. Can raised its holdings in Coupa Software by 50.5% in the second quarter. Great West Life Assurance Co. Can now owns 4,064 shares of the technology company’s stock valued at $253,000 after acquiring an additional 1,364 shares in the last quarter. Strs Ohio raised its holdings in Coupa Software by 10.0% in the second quarter. Strs Ohio now owns 19,800 shares of the technology company’s stock valued at $1,232,000 after acquiring an additional 1,800 shares in the last quarter. Swiss National Bank raised its holdings in Coupa Software by 3.0% in the third quarter. Swiss National Bank now owns 79,000 shares of the technology company’s stock valued at $6,249,000 after acquiring an additional 2,300 shares in the last quarter. California Public Employees Retirement System raised its holdings in Coupa Software by 20.1% in the second quarter. California Public Employees Retirement System now owns 14,097 shares of the technology company’s stock valued at $877,000 after acquiring an additional 2,355 shares in the last quarter. Finally, SG Americas Securities LLC acquired a new stake in Coupa Software in the second quarter valued at approximately $153,000. 96.79% of the stock is currently owned by hedge funds and other institutional investors.

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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Analyst Recommendations for Coupa Software (NASDAQ:COUP)

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