Needham & Company LLC Begins Coverage on Coupa Software (COUP)
Needham & Company LLC initiated coverage on shares of Coupa Software (NASDAQ:COUP) in a report issued on Wednesday, Marketbeat.com reports. The brokerage issued a buy rating and a $39.00 target price on the technology company’s stock.
COUP has been the topic of a number of other reports. Barclays upgraded shares of Coupa Software from an equal weight rating to an overweight rating and set a $38.00 price objective on the stock in a research note on Monday, January 8th. Royal Bank of Canada restated a buy rating and issued a $41.00 price objective on shares of Coupa Software in a research note on Wednesday, November 15th. Zacks Investment Research upgraded shares of Coupa Software from a sell rating to a hold rating in a research note on Tuesday, November 7th. Raymond James Financial restated a buy rating and issued a $40.00 price objective on shares of Coupa Software in a research note on Tuesday, December 12th. Finally, Cantor Fitzgerald restated a buy rating and issued a $38.00 price objective on shares of Coupa Software in a research note on Monday, December 11th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and eleven have issued a buy rating to the stock. The stock currently has a consensus rating of Buy and a consensus target price of $36.68.
Shares of Coupa Software (NASDAQ COUP) opened at $34.00 on Wednesday. Coupa Software has a 1 year low of $22.50 and a 1 year high of $37.72. The firm has a market cap of $1,849.01, a price-to-earnings ratio of -42.50 and a beta of 4.39.
Coupa Software (NASDAQ:COUP) last announced its quarterly earnings results on Monday, December 4th. The technology company reported ($0.05) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.11) by $0.06. The firm had revenue of $47.30 million during the quarter, compared to analysts’ expectations of $45.02 million. Coupa Software had a negative net margin of 24.37% and a negative return on equity of 20.40%. Coupa Software’s quarterly revenue was up 33.6% compared to the same quarter last year. During the same period in the previous year, the company earned ($0.22) earnings per share. analysts anticipate that Coupa Software will post -0.94 EPS for the current fiscal year.
In other news, CFO Todd R. Ford sold 1,446 shares of the business’s stock in a transaction dated Thursday, December 21st. The shares were sold at an average price of $32.32, for a total transaction of $46,734.72. Following the transaction, the chief financial officer now directly owns 8,082 shares in the company, valued at $261,210.24. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO Todd R. Ford sold 12,000 shares of the business’s stock in a transaction dated Tuesday, October 17th. The stock was sold at an average price of $35.50, for a total transaction of $426,000.00. Following the transaction, the chief financial officer now owns 17,349 shares in the company, valued at $615,889.50. The disclosure for this sale can be found here. Over 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 modified their holdings of the company. BNP Paribas Arbitrage SA increased its stake in shares of Coupa Software by 2,294.8% during the second quarter. BNP Paribas Arbitrage SA now owns 3,664 shares of the technology company’s stock worth $106,000 after acquiring an additional 3,511 shares during the period. Hillsdale Investment Management Inc. acquired a new position in Coupa Software during the second quarter worth about $142,000. Trexquant Investment LP acquired a new position in Coupa Software during the third quarter worth about $274,000. Symmetry Peak Management LLC acquired a new position in Coupa Software during the second quarter worth about $290,000. Finally, Legal & General Group Plc grew its position in Coupa Software by 436.1% during the second quarter. Legal & General Group Plc now owns 10,792 shares of the technology company’s stock worth $312,000 after buying an additional 8,779 shares during the period. Institutional investors and hedge funds own 74.67% 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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