Coupa Software (NASDAQ:COUP) Price Target Raised to $168.00

Coupa Software (NASDAQ:COUP) had its price objective increased by Morgan Stanley from $151.00 to $168.00 in a research note issued to investors on Monday, BenzingaRatingsTable reports. The brokerage currently has an equal weight rating on the technology company’s stock.

A number of other equities analysts also recently commented on the company. Piper Jaffray Companies assumed coverage on Coupa Software in a report on Monday, October 28th. They set an overweight rating and a $150.00 target price for the company. Royal Bank of Canada increased their target price on Coupa Software from $165.00 to $190.00 and gave the stock an outperform rating in a research note on Wednesday, January 8th. Citigroup increased their target price on Coupa Software from $141.00 to $162.00 and gave the stock a neutral rating in a research note on Wednesday, December 4th. SunTrust Banks reissued a buy rating and issued a $170.00 target price on shares of Coupa Software in a research note on Monday, December 2nd. Finally, FBN Securities initiated coverage on Coupa Software in a research note on Tuesday, September 17th. They issued an outperform rating and a $165.00 target price on the stock. Ten analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company’s stock. The stock presently has a consensus rating of Buy and an average target price of $162.30.

Shares of COUP opened at $169.87 on Monday. The firm has a market cap of $10.92 billion, a P/E ratio of -253.54 and a beta of 1.54. The stock has a 50 day simple moving average of $153.16 and a two-hundred day simple moving average of $142.60. The company has a debt-to-equity ratio of 1.26, a current ratio of 2.11 and a quick ratio of 2.11. Coupa Software has a 1 year low of $66.43 and a 1 year high of $174.27.

Coupa Software (NASDAQ:COUP) last issued its earnings results on Monday, December 2nd. The technology company reported $0.20 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.06 by $0.14. Coupa Software had a negative return on equity of 12.24% and a negative net margin of 23.60%. The business had revenue of $101.78 million during the quarter, compared to analyst estimates of $96.20 million. During the same quarter in the prior year, the firm earned $0.08 earnings per share. Coupa Software’s revenue for the quarter was up 50.9% on a year-over-year basis. On average, equities analysts anticipate that Coupa Software will post -0.84 earnings per share for the current year.

In other news, insider Mark Riggs sold 929 shares of the business’s stock in a transaction on Thursday, October 24th. The stock was sold at an average price of $123.70, for a total value of $114,917.30. Following the completion of the transaction, the insider now directly owns 2,684 shares of the company’s stock, valued at approximately $332,010.80. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Henry Tayloe Stansbury sold 10,000 shares of the business’s stock in a transaction on Tuesday, November 5th. The stock was sold at an average price of $128.80, for a total value of $1,288,000.00. Following the completion of the transaction, the director now directly owns 18,307 shares of the company’s stock, valued at $2,357,941.60. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 215,804 shares of company stock valued at $31,152,600. 5.30% of the stock is currently owned by corporate insiders.

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. UBS Asset Management Americas Inc. raised its holdings in shares of Coupa Software by 48.9% during the second quarter. UBS Asset Management Americas Inc. now owns 55,629 shares of the technology company’s stock valued at $7,043,000 after acquiring an additional 18,263 shares during the last quarter. Comerica Bank grew its position in shares of Coupa Software by 307.0% in the third quarter. Comerica Bank now owns 7,611 shares of the technology company’s stock valued at $1,002,000 after purchasing an additional 5,741 shares in the last quarter. Point72 Asset Management L.P. purchased a new stake in shares of Coupa Software in the third quarter valued at approximately $106,580,000. Evoke Wealth LLC purchased a new stake in shares of Coupa Software in the third quarter valued at approximately $416,000. Finally, State Street Corp grew its position in shares of Coupa Software by 4.6% in the third quarter. State Street Corp now owns 805,740 shares of the technology company’s stock valued at $104,400,000 after purchasing an additional 35,514 shares in the last quarter.

Coupa Software Company Profile

Coupa Software, Inc engages in providing business spend management (BSM) solutions. It offers cloud-based BSM platform that delivers a broad range of capabilities that would typically require the purchase and use of multiple disparate point applications. Its platform consists of procurement, invoicing, expense management and payments modules that form the transactional engine for managing a company’s business spend.

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Analyst Recommendations for Coupa Software (NASDAQ:COUP)

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