Coupa Software Inc (NASDAQ:COUP) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research report issued on Friday.
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. “
COUP has been the topic of several other reports. Vetr cut Coupa Software from a “hold” rating to a “strong sell” rating and set a $24.91 price target on the stock. in a research note on Wednesday, February 22nd. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $35.00 price target (up from $31.00) on shares of Coupa Software in a research note on Thursday, December 1st. Loop Capital initiated coverage on Coupa Software in a research note on Tuesday, February 14th. They issued a “hold” rating and a $27.00 price target on the stock. JMP Securities upped their price target on Coupa Software from $30.00 to $31.00 and gave the stock an “outperform” rating in a research note on Tuesday, December 6th. Finally, Barclays PLC reaffirmed an “equal weight” rating and issued a $28.00 price target on shares of Coupa Software in a research note on Wednesday, November 30th. Two research analysts have rated the stock with a sell rating, four have given a hold rating and two have assigned a buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus price target of $28.56.
Shares of Coupa Software (NASDAQ:COUP) opened at 23.77 on Friday. The company has a 50-day moving average price of $26.21 and a 200 day moving average price of $26.63. Coupa Software has a one year low of $23.17 and a one year high of $41.61. The stock’s market cap is $1.18 billion.
Coupa Software (NASDAQ:COUP) last issued its quarterly earnings results on Monday, March 13th. The company reported ($0.05) earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.17) by $0.12. The firm earned $38.02 million during the quarter, compared to analysts’ expectations of $35.87 million. The firm’s revenue for the quarter was up 44.2% compared to the same quarter last year. Equities research analysts expect that Coupa Software will post ($0.54) earnings per share for the current year.
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Several large investors have recently added to or reduced their stakes in COUP. Metropolitan Life Insurance Co. NY bought a new stake in Coupa Software during the fourth quarter worth approximately $260,000. Norges Bank bought a new stake in Coupa Software during the fourth quarter worth approximately $500,000. Franklin Resources Inc. bought a new stake in Coupa Software during the fourth quarter worth approximately $595,000. FMR LLC bought a new stake in Coupa Software during the fourth quarter worth approximately $603,000. Finally, State Street Corp bought a new stake in Coupa Software during the fourth quarter worth approximately $2,224,000. 0.96% of the stock is currently owned by hedge funds and other institutional investors.
About Coupa Software
Coupa Software Incorporated is a United States-based company, which provides a unified, cloud-based spend management platform that connects organizations with suppliers globally. The Company offers spend management cloud applications, which are pre-integrated. The platform offers consumerized financial applications.
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