Coupa Software (NASDAQ:COUP) Updates FY23 Earnings Guidance

Coupa Software (NASDAQ:COUPGet Rating) updated its FY23 earnings guidance on Monday. The company provided earnings per share guidance of $0.21-0.27 for the period, compared to the consensus earnings per share estimate of $0.19. The company issued revenue guidance of $838-843 million, compared to the consensus revenue estimate of $841.62 million.Coupa Software also updated its FY 2023 guidance to $0.21-$0.27 EPS.

Several brokerages recently weighed in on COUP. Bank of America cut their price objective on shares of Coupa Software from $120.00 to $96.00 and set a buy rating on the stock in a research report on Tuesday, May 31st. Evercore ISI upgraded shares of Coupa Software to a buy rating and set a $140.00 price objective on the stock in a research report on Thursday, April 14th. Raymond James cut their price objective on shares of Coupa Software from $195.00 to $75.00 and set an outperform rating on the stock in a research report on Tuesday, March 15th. Truist Financial cut their price objective on shares of Coupa Software from $225.00 to $85.00 and set a buy rating on the stock in a research report on Tuesday, March 15th. Finally, Piper Sandler downgraded shares of Coupa Software from an overweight rating to a neutral rating and dropped their price target for the stock from $230.00 to $70.00 in a research report on Tuesday, March 15th. Two research analysts have rated the stock with a sell rating, thirteen have issued a hold rating and ten have given a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of Hold and a consensus target price of $128.33.

Shares of COUP traded up $1.37 during mid-day trading on Monday, hitting $72.13. The company’s stock had a trading volume of 4,048,233 shares, compared to its average volume of 2,331,211. The firm has a 50-day moving average price of $84.98 and a 200 day moving average price of $119.15. The stock has a market capitalization of $5.41 billion, a price-to-earnings ratio of -14.03 and a beta of 1.45. The company has a debt-to-equity ratio of 1.81, a current ratio of 1.79 and a quick ratio of 1.79. Coupa Software has a fifty-two week low of $58.43 and a fifty-two week high of $283.38.

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

In related news, Director Michelle Brennan purchased 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, for a total transaction of $29,493.75. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Mark Riggs sold 1,013 shares of the firm’s stock in a transaction that occurred on Friday, March 25th. The stock was sold at an average price of $104.87, for a total transaction of $106,233.31. The disclosure for this sale can be found here. Over the last three months, insiders sold 17,266 shares of company stock worth $1,718,614. 2.20% of the stock is currently owned by insiders.

Hedge funds have recently bought and sold shares of the stock. Neo Ivy Capital Management acquired a new stake in shares of Coupa Software during the fourth quarter worth approximately $75,000. Advisors Asset Management Inc. lifted its stake in Coupa Software by 251.4% in the fourth quarter. Advisors Asset Management Inc. now owns 615 shares of the technology company’s stock valued at $97,000 after acquiring an additional 440 shares during the last quarter. Healthcare of Ontario Pension Plan Trust Fund acquired a new stake in Coupa Software in the first quarter valued at approximately $139,000. Quantamental Technologies LLC acquired a new stake in Coupa Software in the first quarter valued at approximately $202,000. Finally, Wellington Management Group LLP acquired a new stake in Coupa Software in the first quarter valued at approximately $213,000. Institutional investors and hedge funds own 95.45% of the company’s stock.

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.

Featured Stories

Earnings History and Estimates for Coupa Software (NASDAQ:COUP)

Want More Great Investing Ideas?

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.