Coupa Software (NASDAQ:COUP) Releases Q2 2023 Earnings Guidance

Coupa Software (NASDAQ:COUPGet Rating) updated its second quarter 2023 earnings guidance on Monday. The company provided EPS guidance of $0.07-$0.10 for the period, compared to the consensus EPS estimate of $0.05. The company issued revenue guidance of $202.00 million-$205.00 million, compared to the consensus revenue estimate of $205.34 million.Coupa Software also updated its FY 2023 guidance to $0.21-$0.27 EPS.

Several brokerages have recently weighed in on COUP. StockNews.com began coverage on Coupa Software in a research note on Thursday, March 31st. They set a sell rating for the company. UBS Group lowered their target price on Coupa Software to $84.00 in a research note on Friday. Truist Financial decreased their price target on Coupa Software from $225.00 to $85.00 and set a buy rating for the company in a research note on Tuesday, March 15th. Wells Fargo & Company decreased their price target on Coupa Software from $190.00 to $80.00 and set an equal weight rating for the company in a research note on Tuesday, March 15th. Finally, Morgan Stanley reiterated a buy rating and issued a $125.00 price target on shares of Coupa Software in a research note on Friday, April 8th. Two analysts have rated the stock with a sell rating, thirteen have given a hold rating and ten have given a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of Hold and a consensus target price of $128.33.

NASDAQ COUP traded up $1.37 on Monday, reaching $72.13. The company’s stock had a trading volume of 4,205,645 shares, compared to its average volume of 2,331,211. The firm has a market cap of $5.41 billion, a PE ratio of -13.96 and a beta of 1.45. The business has a 50-day moving average price of $85.60 and a 200 day moving average price of $120.14. Coupa Software has a 52 week low of $58.43 and a 52 week high of $283.38. The company has a current ratio of 1.79, a quick ratio of 1.79 and a debt-to-equity ratio of 1.81.

Coupa Software (NASDAQ:COUPGet Rating) last posted its earnings results on Monday, March 14th. The technology company reported ($0.54) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.75) by $0.21. The business had revenue of $193.30 million for the quarter, compared to analysts’ expectations of $186.18 million. Coupa Software had a negative net margin of 52.26% and a negative return on equity of 14.13%. The firm’s revenue for the quarter was up 18.2% on a year-over-year basis. During the same quarter in the previous year, the firm posted ($0.82) earnings per share. Analysts anticipate that Coupa Software will post -2.43 earnings per share for the current fiscal year.

In other news, insider Todd R. Ford sold 2,961 shares of the stock in a transaction on Monday, March 21st. The shares were sold at an average price of $98.75, for a total transaction of $292,398.75. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Michelle Brennan bought 375 shares of the firm’s stock in a transaction that occurred on Wednesday, March 16th. The stock was acquired at an average cost of $78.65 per share, with a total value of $29,493.75. The disclosure for this purchase can be found here. Insiders have sold 17,266 shares of company stock worth $1,718,614 over the last three months. 2.20% of the stock is owned by insiders.

Several institutional investors and hedge funds have recently made changes to their positions in the company. Neo Ivy Capital Management acquired a new stake in shares of Coupa Software during the 4th quarter worth about $75,000. Advisors Asset Management Inc. lifted its stake in shares of Coupa Software by 251.4% during the 4th quarter. Advisors Asset Management Inc. now owns 615 shares of the technology company’s stock worth $97,000 after buying an additional 440 shares during the last quarter. Healthcare of Ontario Pension Plan Trust Fund acquired a new stake in shares of Coupa Software during the 1st quarter worth about $139,000. Quantamental Technologies LLC acquired a new stake in shares of Coupa Software during the 1st quarter worth about $202,000. Finally, Wellington Management Group LLP acquired a new stake in shares of Coupa Software during the 1st quarter worth about $213,000. 95.45% of the stock is owned by institutional investors.

Coupa Software Company Profile (Get Rating)

Coupa Software Incorporated provides cloud-based business spend management platform that connects its customers with suppliers worldwide. The company provides visibility into and control over how companies spend money, optimize supply chains, and manage liquidity, as well as enables businesses to achieve savings that drive profitability.

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