Coupa Software Inc (NASDAQ:COUP)’s share price gapped down before the market opened on Thursday . The stock had previously closed at $55.99, but opened at $61.00. Coupa Software shares last traded at $65.03, with a volume of 1199411 shares trading hands.

Several equities analysts have recently weighed in on COUP shares. Morgan Stanley lifted their target price on shares of Coupa Software from $57.00 to $62.00 and gave the company an “equal weight” rating in a report on Tuesday, September 4th. Northland Securities lowered shares of Coupa Software from an “outperform” rating to a “market perform” rating in a report on Tuesday, September 11th. Oppenheimer lifted their target price on shares of Coupa Software from $62.00 to $77.00 and gave the company an “outperform” rating in a report on Wednesday, August 29th. Cantor Fitzgerald lifted their target price on shares of Coupa Software from $67.00 to $92.00 and gave the company an “overweight” rating in a report on Wednesday, September 5th. Finally, Zacks Investment Research raised shares of Coupa Software from a “hold” rating to a “buy” rating and set a $86.00 target price for the company in a report on Friday, September 7th. Seven equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. The company has an average rating of “Buy” and an average price target of $65.41.

The firm has a market capitalization of $3.54 billion, a P/E ratio of -87.01 and a beta of 1.76.

Coupa Software (NASDAQ:COUP) last issued its quarterly earnings results on Monday, December 3rd. The technology company reported $0.08 EPS for the quarter, topping the consensus estimate of ($0.03) by $0.11. The company had revenue of $67.46 million during the quarter, compared to analyst estimates of $62.59 million. Coupa Software had a negative net margin of 19.93% and a negative return on equity of 14.93%. The firm’s revenue was up 42.5% compared to the same quarter last year. During the same quarter in the previous year, the firm earned ($0.05) EPS. On average, sell-side analysts predict that Coupa Software Inc will post -0.98 EPS for the current year.

In related news, insider Anthony D. Tiscornia sold 781 shares of the business’s stock in a transaction on Wednesday, September 12th. The shares were sold at an average price of $78.06, for a total value of $60,964.86. Following the completion of the sale, the insider now owns 521 shares of the company’s stock, valued at approximately $40,669.26. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO Robert Bernshteyn sold 63,225 shares of the business’s stock in a transaction on Monday, November 19th. The stock was sold at an average price of $56.06, for a total transaction of $3,544,393.50. The disclosure for this sale can be found here. In the last three months, insiders sold 284,248 shares of company stock valued at $19,036,803. 6.50% of the stock is owned by insiders.

Institutional investors and hedge funds have recently made changes to their positions in the business. SG Americas Securities LLC acquired a new stake in Coupa Software during the 2nd quarter worth $153,000. D.A. Davidson & CO. acquired a new position in shares of Coupa Software during the 3rd quarter valued at about $220,000. GAM Holding AG acquired a new position in shares of Coupa Software during the 2nd quarter valued at about $204,000. Quantitative Systematic Strategies LLC acquired a new position in shares of Coupa Software during the 2nd quarter valued at about $211,000. Finally, GSA Capital Partners LLP acquired a new position in shares of Coupa Software during the 3rd quarter valued at about $277,000. 96.79% of the stock is currently owned by institutional investors.

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About Coupa Software (NASDAQ:COUP)

Coupa Software Incorporated provides cloud-based spend management platform. The company's platform connects organization with suppliers globally; and provides visibility into and control over how companies spend money, as well as enables businesses to achieve savings that drive profitability. Its platform consists of procurement, invoicing, and expense management modules that form its transactional engine and capture a company's spend; and offers supporting modules, including sourcing, spend analysis, contract management, supplier management, and inventory management.

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