Coupa Software (COUP) Shares Gap Down to $61.00

Coupa Software Inc (NASDAQ:COUP) shares gapped down prior to trading on Thursday . The stock had previously closed at $55.99, but opened at $61.00. Coupa Software shares last traded at $65.03, with a volume of 1199411 shares.

Several research analysts recently issued reports on the stock. Loop Capital increased their price target on shares of Coupa Software to $72.00 and gave the stock a “hold” rating in a research report on Wednesday, September 5th. Northland Securities lowered shares of Coupa Software from an “outperform” rating to a “market perform” rating in a research report on Tuesday, September 11th. Zacks Investment Research raised shares of Coupa Software from a “hold” rating to a “buy” rating and set a $86.00 price target for the company in a research report on Friday, September 7th. Cantor Fitzgerald increased their price target on shares of Coupa Software from $67.00 to $92.00 and gave the stock an “overweight” rating in a research report on Wednesday, September 5th. Finally, Raymond James increased their price target on shares of Coupa Software from $60.00 to $86.00 and gave the stock an “outperform” rating in a research report on Wednesday, September 5th. Six equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. The stock has an average rating of “Buy” and an average price target of $64.35.

The firm has a market capitalization of $3.84 billion, a price-to-earnings ratio of -79.09 and a beta of 1.76.

Coupa Software (NASDAQ:COUP) last posted its quarterly earnings data on Monday, December 3rd. The technology company reported $0.08 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.03) by $0.11. The company had revenue of $67.46 million during the quarter, compared to analyst estimates of $62.59 million. Coupa Software had a negative net margin of 19.93% and a negative return on equity of 14.93%. The company’s revenue was up 42.5% on a year-over-year basis. During the same quarter last year, the business posted ($0.05) earnings per share. As a group, sell-side analysts anticipate that Coupa Software Inc will post -0.82 EPS for the current year.

In other news, 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 owns 204,218 shares of the company’s stock, valued at $15,773,798.32. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, insider Mark Riggs sold 644 shares of the firm’s stock in a transaction that occurred on Friday, November 30th. The stock was sold at an average price of $65.00, for a total transaction of $41,860.00. Following the sale, the insider now directly owns 1,141 shares of the company’s stock, valued at approximately $74,165. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 300,839 shares of company stock valued at $20,082,699. Company insiders own 6.50% of the company’s stock.

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Vanguard Group Inc. increased its holdings in shares of Coupa Software by 11.3% during the third quarter. Vanguard Group Inc. now owns 4,610,782 shares of the technology company’s stock worth $364,712,000 after buying an additional 467,714 shares in the last quarter. Morgan Stanley increased its holdings in shares of Coupa Software by 3.8% during the third quarter. Morgan Stanley now owns 3,733,253 shares of the technology company’s stock worth $295,300,000 after buying an additional 137,624 shares in the last quarter. Sylebra HK Co Ltd increased its holdings in shares of Coupa Software by 4.5% during the second quarter. Sylebra HK Co Ltd now owns 3,533,098 shares of the technology company’s stock worth $219,900,000 after buying an additional 150,823 shares in the last quarter. BlackRock Inc. grew its stake in shares of Coupa Software by 14.4% during the third quarter. BlackRock Inc. now owns 3,480,491 shares of the technology company’s stock valued at $275,308,000 after purchasing an additional 438,131 shares during the last quarter. Finally, Whale Rock Capital Management LLC grew its stake in shares of Coupa Software by 16.8% during the second quarter. Whale Rock Capital Management LLC now owns 2,267,803 shares of the technology company’s stock valued at $141,148,000 after purchasing an additional 326,727 shares during the last quarter. 96.79% of the stock is owned by institutional investors.

WARNING: This article was originally published by Community Financial News and is owned by of Community Financial News. If you are reading this article on another publication, it was copied illegally and reposted in violation of United States & international copyright and trademark legislation. The legal version of this article can be viewed at https://www.com-unik.info/2018/12/08/coupa-software-coup-shares-gap-down-to-61-00.html.

About Coupa Software (NASDAQ:COUP)

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.

Featured Article: Short Selling – Explanation For Shorting Stocks

Receive News & Ratings for Coupa Software Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Coupa Software and related companies with MarketBeat.com's FREE daily email newsletter.

Comments

Leave a Reply


share news on Facebook
tweet this investment news
share on linkedin
share on StockTwits
share on reddit