COUPA SOFTWARE (COUP) Downgraded by Zacks Investment Research
Zacks Investment Research cut shares of COUPA SOFTWARE (NASDAQ:COUP) from a hold rating to a sell rating in a research report report published on Friday morning.
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. “
Several other research analysts have also recently issued reports on the stock. Royal Bank Of Canada increased their price target on shares of COUPA SOFTWARE from $35.00 to $40.00 and gave the stock an outperform rating in a report on Thursday, June 1st. Cantor Fitzgerald initiated coverage on shares of COUPA SOFTWARE in a report on Thursday, July 20th. They set an overweight rating and a $35.00 price target for the company. JMP Securities reissued an outperform rating and set a $40.00 price target (up from $32.00) on shares of COUPA SOFTWARE in a report on Tuesday, June 6th. Morgan Stanley reissued an equal weight rating and set a $31.00 price target (up from $29.00) on shares of COUPA SOFTWARE in a report on Saturday, June 3rd. Finally, Raymond James Financial, Inc. reissued an outperform rating and set a $40.00 price target (up from $34.00) on shares of COUPA SOFTWARE in a report on Wednesday, June 7th. Two research analysts have rated the stock with a sell rating, four have given a hold rating and seven have given a buy rating to the company’s stock. The stock currently has a consensus rating of Hold and an average price target of $34.61.
Shares of COUPA SOFTWARE (NASDAQ COUP) opened at 30.87 on Friday. COUPA SOFTWARE has a 52-week low of $22.50 and a 52-week high of $41.61. The stock’s 50 day moving average price is $30.29 and its 200-day moving average price is $29.30. The firm’s market capitalization is $1.64 billion.
COUPA SOFTWARE (NASDAQ:COUP) last posted its quarterly earnings results on Tuesday, September 5th. The technology company reported ($0.10) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.28) by $0.18. The firm had revenue of $44.60 million during the quarter, compared to analysts’ expectations of $41.59 million. COUPA SOFTWARE had a negative net margin of 24.00% and a negative return on equity of 19.35%. The firm’s quarterly revenue was up 43.4% compared to the same quarter last year. Equities research analysts anticipate that COUPA SOFTWARE will post ($0.48) EPS for the current fiscal year.
In other COUPA SOFTWARE news, insider Ravi Thakur sold 11,240 shares of the company’s stock in a transaction dated Monday, July 3rd. The shares were sold at an average price of $29.03, for a total transaction of $326,297.20. Following the transaction, the insider now directly owns 68,175 shares in the company, valued at $1,979,120.25. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Robert Bernshteyn sold 1,841 shares of the company’s stock in a transaction dated Wednesday, June 21st. The stock was sold at an average price of $30.70, for a total transaction of $56,518.70. Following the transaction, the chief executive officer now owns 452,305 shares in the company, valued at $13,885,763.50. The disclosure for this sale can be found here. Insiders have sold 1,851,944 shares of company stock worth $57,635,581 over the last 90 days. 32.10% of the stock is currently owned by company insiders.
A number of institutional investors and hedge funds have recently modified their holdings of the business. Verition Fund Management LLC acquired a new position in COUPA SOFTWARE during the second quarter worth about $384,000. California State Teachers Retirement System grew its position in COUPA SOFTWARE by 205.2% during the second quarter. California State Teachers Retirement System now owns 52,800 shares of the technology company’s stock worth $1,530,000 after buying an additional 35,500 shares during the period. The Manufacturers Life Insurance Company grew its position in COUPA SOFTWARE by 211.3% during the second quarter. The Manufacturers Life Insurance Company now owns 23,904 shares of the technology company’s stock worth $693,000 after buying an additional 16,226 shares during the period. Sylebra HK Co Ltd grew its position in COUPA SOFTWARE by 6.5% during the second quarter. Sylebra HK Co Ltd now owns 1,204,374 shares of the technology company’s stock worth $34,903,000 after buying an additional 73,654 shares during the period. Finally, Cubist Systematic Strategies LLC acquired a new position in COUPA SOFTWARE during the second quarter worth about $453,000. Institutional investors own 64.35% of the company’s stock.
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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