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

Coupa Software (NASDAQ:COUPGet Rating) issued an update on its second quarter 2023 earnings guidance on Monday morning. 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.

NASDAQ:COUP opened at $53.49 on Monday. The company has a current ratio of 1.81, a quick ratio of 1.81 and a debt-to-equity ratio of 6.42. Coupa Software has a 12 month low of $50.54 and a 12 month high of $283.38. The company has a market cap of $4.04 billion, a PE ratio of -11.05 and a beta of 1.45. The company has a 50 day simple moving average of $76.93 and a two-hundred day simple moving average of $110.93.

Coupa Software (NASDAQ:COUPGet Rating) last posted its earnings results 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 net margin of 47.72% and a negative return on equity of 17.87%. The business had revenue of $196.37 million during the quarter, compared to the consensus estimate of $190.69 million. During the same quarter in the previous year, the firm posted ($0.57) EPS. The firm’s revenue was up 17.6% on a year-over-year basis. Research analysts forecast that Coupa Software will post -2.63 earnings per share for the current year.

A number of equities research analysts have recently issued reports on COUP shares. Bank of America cut their price objective on shares of Coupa Software from $120.00 to $96.00 and set a buy rating for the company in a research report on Tuesday, May 31st. Royal Bank of Canada cut their price objective on shares of Coupa Software from $155.00 to $65.00 and set a sector perform rating for the company in a research report on Tuesday, March 15th. Evercore ISI cut their price objective on shares of Coupa Software from $140.00 to $115.00 and set an outperform rating for the company in a research report on Tuesday, June 7th. Raymond James lifted their target price on shares of Coupa Software from $75.00 to $90.00 in a research note on Tuesday, June 7th. Finally, DA Davidson began coverage on shares of Coupa Software in a research note on Thursday, May 19th. They set a neutral rating and a $75.00 target price on the stock. Two investment analysts have rated the stock with a sell rating, nine have given a hold rating and ten have given a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of Hold and an average target price of $101.89.

In other news, EVP Robert Glenn sold 942 shares of the company’s stock in a transaction that occurred on Friday, April 1st. The shares were sold at an average price of $101.25, for a total value of $95,377.50. Following the completion of the sale, the executive vice president now owns 4,436 shares of the company’s stock, valued at approximately $449,145. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Mark Riggs sold 1,013 shares of the stock in a transaction that occurred on Friday, March 25th. The shares were 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. Insiders sold a total of 2,906 shares of company stock worth $300,564 over the last 90 days. Insiders own 2.20% of the company’s stock.

Hedge funds have recently added to or reduced their stakes in the stock. Neo Ivy Capital Management acquired a new stake in shares of Coupa Software in the fourth quarter valued at about $75,000. Advisors Asset Management Inc. grew its holdings in shares of 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 purchasing an additional 440 shares in the last quarter. Healthcare of Ontario Pension Plan Trust Fund acquired a new position in shares of Coupa Software in the first quarter valued at approximately $139,000. CIBC World Markets Inc. purchased a new stake in shares of Coupa Software during the 4th quarter worth approximately $266,000. Finally, JustInvest LLC purchased a new stake in shares of Coupa Software during the 4th quarter worth approximately $286,000. Institutional investors 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.

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

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