Coupa Software (NASDAQ:COUP) PT Raised to $85.00 at Piper Sandler

Coupa Software (NASDAQ:COUPGet Rating) had its target price raised by equities research analysts at Piper Sandler from $70.00 to $85.00 in a research note issued to investors on Tuesday, Stock Target Advisor reports. The firm currently has a “neutral” rating on the technology company’s stock. Piper Sandler’s target price points to a potential upside of 17.84% from the stock’s current price.

A number of other research firms also recently weighed in on COUP. The Goldman Sachs Group downgraded Coupa Software from a “neutral” rating to a “sell” rating and decreased their target price for the stock from $83.00 to $64.00 in a research report on Thursday, May 12th. Morgan Stanley reaffirmed a “buy” rating and set a $125.00 price objective on shares of Coupa Software in a report on Friday, April 8th. Oppenheimer downgraded Coupa Software from an “outperform” rating to a “market perform” rating in a report on Tuesday, March 15th. Needham & Company LLC reduced their target price on Coupa Software from $210.00 to $90.00 and set a “buy” rating on the stock in a report on Tuesday, March 15th. Finally, assumed coverage on Coupa Software in a report on Thursday, March 31st. They issued a “sell” rating on the stock. Two analysts have rated the stock with a sell rating, thirteen have issued a hold rating and ten have issued a buy rating to the company’s stock. Based on data from MarketBeat, Coupa Software presently has an average rating of “Hold” and an average target price of $127.86.

Coupa Software stock opened at $72.13 on Tuesday. The company has a debt-to-equity ratio of 1.81, a quick ratio of 1.79 and a current ratio of 1.79. The business’s 50-day simple moving average is $84.98 and its 200-day simple moving average is $119.15. The firm has a market capitalization of $5.41 billion, a PE ratio of -14.03 and a beta of 1.45. Coupa Software has a 52 week low of $58.43 and a 52 week high of $283.38.

Coupa Software (NASDAQ:COUPGet Rating) last posted its quarterly earnings data on Monday, June 6th. The technology company reported $0.08 EPS for the quarter, topping analysts’ consensus estimates of $0.05 by $0.03. Coupa Software had a negative return on equity of 14.13% and a negative net margin of 52.26%. The business had revenue of $196.37 million for the quarter, compared to analyst estimates of $190.69 million. During the same period in the previous year, the company posted ($0.57) earnings per share. The firm’s revenue for the quarter was up 17.6% on a year-over-year basis. Research analysts forecast that Coupa Software will post -2.43 earnings per share for the current year.

In other news, insider Todd R. Ford sold 2,961 shares of the stock in a transaction dated Monday, March 21st. The shares were sold at an average price of $98.75, for a total transaction of $292,398.75. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Michelle Brennan bought 375 shares of the company’s stock in a transaction dated Wednesday, March 16th. The stock was purchased at an average cost of $78.65 per share, for a total transaction of $29,493.75. The disclosure for this purchase can be found here. Over the last ninety days, insiders sold 17,266 shares of company stock valued at $1,718,614. Company insiders own 2.20% of the company’s stock.

Several hedge funds have recently modified their holdings of the company. Mackenzie Financial Corp raised its holdings in Coupa Software by 41,503.9% in the 1st quarter. Mackenzie Financial Corp now owns 1,622,967 shares of the technology company’s stock valued at $164,942,000 after acquiring an additional 1,619,066 shares during the period. William Blair Investment Management LLC increased its holdings in shares of Coupa Software by 1,237.4% during the first quarter. William Blair Investment Management LLC now owns 1,595,093 shares of the technology company’s stock worth $162,109,000 after purchasing an additional 1,475,825 shares during the period. Eminence Capital LP acquired a new stake in shares of Coupa Software during the 1st quarter worth approximately $136,679,000. Capital World Investors acquired a new stake in shares of Coupa Software during the 4th quarter worth approximately $156,922,000. Finally, Cadian Capital Management LP acquired a new stake in shares of Coupa Software during the 1st quarter worth approximately $89,821,000. 95.45% of the stock is currently 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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