Zacks Investment Research Upgrades Coupa Software (NASDAQ:COUP) to Hold

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Zacks Investment Research upgraded shares of Coupa Software (NASDAQ:COUP) from a sell rating to a hold rating in a report published on Wednesday, Zacks.com reports.

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. “

Several other analysts also recently commented on COUP. SunTrust Banks raised their price objective on Mirati Therapeutics to $120.00 and gave the stock a buy rating in a research note on Tuesday, June 4th. Oppenheimer raised their price objective on Carlisle Companies from $150.00 to $155.00 and gave the stock an outperform rating in a research note on Tuesday, June 18th. KeyCorp reaffirmed an overweight rating and set a $136.00 price objective (up previously from $127.00) on shares of Coupa Software in a research note on Wednesday, June 26th. Bank of America initiated coverage on Guangshen Railway Co. Ltd ADR Class H in a research note on Wednesday, June 26th. They set an underperform rating on the stock. Finally, Needham & Company LLC reaffirmed a buy rating and set a $140.00 price objective (up previously from $120.00) on shares of Coupa Software in a research note on Thursday, June 27th. Six research analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. Coupa Software presently has an average rating of Buy and an average target price of $114.44.

Shares of Coupa Software stock opened at $139.26 on Wednesday. Coupa Software has a 12 month low of $52.01 and a 12 month high of $140.69. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.07 and a current ratio of 1.07. The business’s fifty day simple moving average is $122.73.

Coupa Software (NASDAQ:COUP) last issued its quarterly earnings data on Monday, June 3rd. The technology company reported $0.03 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.26) by $0.29. The business had revenue of $81.30 million for the quarter, compared to the consensus estimate of $73.85 million. Coupa Software had a negative return on equity of 14.29% and a negative net margin of 21.22%. The firm’s revenue was up 44.1% compared to the same quarter last year. During the same quarter last year, the business posted ($0.01) EPS. On average, analysts expect that Coupa Software will post -1.19 EPS for the current year.

In other news, Director Veenendaal Frank Van sold 1,299 shares of the firm’s stock in a transaction dated Friday, May 3rd. The stock was sold at an average price of $105.00, for a total value of $136,395.00. Following the completion of the transaction, the director now owns 116,841 shares in the company, valued at approximately $12,268,305. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Anthony D. Tiscornia sold 261 shares of the firm’s stock in a transaction dated Monday, May 13th. The shares were sold at an average price of $101.32, for a total value of $26,444.52. The disclosure for this sale can be found here. Insiders sold a total of 396,645 shares of company stock worth $44,163,313 in the last three months. Company insiders own 5.30% of the company’s stock.

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Nisa Investment Advisors LLC grew its holdings in shares of Coupa Software by 39.7% in the 2nd quarter. Nisa Investment Advisors LLC now owns 405 shares of the technology company’s stock valued at $51,000 after acquiring an additional 115 shares in the last quarter. Sheets Smith Wealth Management grew its holdings in Coupa Software by 99.7% during the second quarter. Sheets Smith Wealth Management now owns 15,376 shares of the technology company’s stock worth $1,947,000 after purchasing an additional 7,676 shares during the period. WINTON GROUP Ltd bought a new position in Coupa Software during the second quarter worth about $371,000. FMR LLC grew its holdings in Coupa Software by 86.9% during the first quarter. FMR LLC now owns 3,467,506 shares of the technology company’s stock worth $315,474,000 after purchasing an additional 1,612,326 shares during the period. Finally, Gilder Gagnon Howe & Co. LLC grew its holdings in Coupa Software by 15.2% during the first quarter. Gilder Gagnon Howe & Co. LLC now owns 273,376 shares of the technology company’s stock worth $24,872,000 after purchasing an additional 36,005 shares during the period. Institutional investors own 99.14% of the company’s stock.

About Coupa Software

Coupa Software, Inc engages in providing business spend management (BSM) solutions. It offers cloud-based BSM platform that delivers a broad range of capabilities that would typically require the purchase and use of multiple disparate point applications. Its platform consists of procurement, invoicing, expense management and payments modules that form the transactional engine for managing a company’s business spend.

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Analyst Recommendations for Coupa Software (NASDAQ:COUP)

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