Coupa Software (COUP) Sees Unusually-High Trading Volume
Shares of Coupa Software Inc (NASDAQ:COUP) saw unusually-strong trading volume on Thursday . Approximately 1,220,266 shares changed hands during mid-day trading, an increase of 156% from the previous session’s volume of 476,946 shares.The stock last traded at $33.59 and had previously closed at $32.00.
Several research analysts have recently commented on COUP shares. Barclays raised Coupa Software from an “equal weight” rating to an “overweight” rating and set a $38.00 price target for the company in a research report on Monday, January 8th. Royal Bank of Canada reissued a “buy” rating and issued a $41.00 price target on shares of Coupa Software in a research report on Wednesday, November 15th. Zacks Investment Research raised Coupa Software from a “sell” rating to a “hold” rating in a research report on Tuesday, November 7th. Raymond James Financial reaffirmed a “buy” rating and set a $40.00 target price on shares of Coupa Software in a research report on Tuesday, December 12th. Finally, Cantor Fitzgerald reaffirmed a “buy” rating and set a $38.00 target price on shares of Coupa Software in a research report on Monday, December 11th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and eleven have given a buy rating to the company’s stock. The company currently has an average rating of “Buy” and a consensus target price of $36.68.
The company has a market cap of $1,849.01, a PE ratio of -42.50 and a beta of 4.39.
Coupa Software (NASDAQ:COUP) last announced its earnings results on Monday, December 4th. The technology company reported ($0.05) earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.11) by $0.06. Coupa Software had a negative return on equity of 20.40% and a negative net margin of 24.37%. The company had revenue of $47.30 million for the quarter, compared to analyst estimates of $45.02 million. During the same period in the prior year, the company posted ($0.22) EPS. The firm’s quarterly revenue was up 33.6% compared to the same quarter last year. equities research analysts forecast that Coupa Software Inc will post -0.94 earnings per share for the current fiscal year.
In other Coupa Software news, CEO Robert Bernshteyn sold 24,122 shares of the business’s stock in a transaction dated Tuesday, October 17th. The stock was sold at an average price of $35.51, for a total transaction of $856,572.22. Following the sale, the chief executive officer now owns 239,671 shares in the company, valued at approximately $8,510,717.21. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CFO Todd R. Ford sold 12,000 shares of the business’s stock in a transaction dated Tuesday, October 17th. The shares were sold at an average price of $35.50, for a total value of $426,000.00. Following the sale, the chief financial officer now owns 17,349 shares in the company, valued at approximately $615,889.50. The disclosure for this sale can be found here. In the last quarter, insiders have sold 369,839 shares of company stock worth $12,633,920. Company insiders own 32.10% of the company’s stock.
Institutional investors have recently bought and sold shares of the business. Verition Fund Management LLC purchased a new stake in Coupa Software during the 2nd quarter valued at about $384,000. Sylebra HK Co Ltd grew its stake in Coupa Software by 6.5% during the 2nd quarter. Sylebra HK Co Ltd now owns 1,204,374 shares of the technology company’s stock valued at $34,903,000 after purchasing an additional 73,654 shares during the last quarter. Vanguard Group Inc. grew its stake in Coupa Software by 260.3% during the 2nd quarter. Vanguard Group Inc. now owns 2,700,303 shares of the technology company’s stock valued at $78,254,000 after purchasing an additional 1,950,862 shares during the last quarter. Capital World Investors grew its stake in Coupa Software by 39.2% during the 2nd quarter. Capital World Investors now owns 1,837,112 shares of the technology company’s stock valued at $53,240,000 after purchasing an additional 517,000 shares during the last quarter. Finally, Wells Fargo & Company MN grew its stake in Coupa Software by 17.2% during the 2nd quarter. Wells Fargo & Company MN now owns 321,265 shares of the technology company’s stock valued at $9,310,000 after purchasing an additional 47,131 shares during the last quarter. Institutional investors and hedge funds own 74.67% of the company’s stock.
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Coupa Software Company Profile
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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