Shares of Coupa Software Inc (NASDAQ:COUP) have received an average recommendation of “Hold” from the eight ratings firms that are currently covering the stock, Marketbeat Ratings reports. One investment analyst has rated the stock with a sell recommendation, five have issued a hold recommendation and two have given a buy recommendation to the company. The average 12-month price objective among brokerages that have updated their coverage on the stock in the last year is $29.49.
Several research analysts have weighed in on the company. Royal Bank of Canada boosted their price objective on Coupa Software from $35.00 to $40.00 and gave the stock an “outperform” rating in a research report on Thursday. Zacks Investment Research raised Coupa Software from a “sell” rating to a “hold” rating in a research report on Tuesday, May 9th. Vetr cut Coupa Software from a “hold” rating to a “strong sell” rating and set a $24.91 price objective on the stock. in a research report on Wednesday, February 22nd. Finally, Loop Capital assumed coverage on Coupa Software in a research report on Tuesday, February 14th. They issued a “hold” rating and a $27.00 price objective on the stock.
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In other Coupa Software news, CEO Robert Bernshteyn sold 406,823 shares of the business’s stock in a transaction on Tuesday, April 18th. The stock was sold at an average price of $24.05, for a total value of $9,784,093.15. Following the sale, the chief executive officer now directly owns 447,453 shares in the company, valued at $10,761,244.65. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, major shareholder Dorado Ventures Vii L. P. El sold 1,041,266 shares of the business’s stock in a transaction on Tuesday, April 18th. The shares were sold at an average price of $24.05, for a total value of $25,042,447.30. The disclosure for this sale can be found here. In the last three months, insiders sold 2,652,329 shares of company stock worth $63,797,512.
Hedge funds have recently modified their holdings of the stock. Nationwide Fund Advisors raised its stake in shares of Coupa Software by 22.7% in the first quarter. Nationwide Fund Advisors now owns 5,131 shares of the technology company’s stock valued at $130,000 after buying an additional 949 shares during the last quarter. American International Group Inc. purchased a new stake in shares of Coupa Software during the first quarter valued at about $132,000. Metropolitan Life Insurance Co. NY purchased a new stake in shares of Coupa Software during the fourth quarter valued at about $260,000. Teachers Advisors LLC purchased a new stake in shares of Coupa Software during the fourth quarter valued at about $268,000. Finally, Norges Bank purchased a new stake in shares of Coupa Software during the fourth quarter valued at about $500,000. Hedge funds and other institutional investors own 0.96% of the company’s stock.
Coupa Software (COUP) traded up 3.27% during midday trading on Monday, reaching $35.34. The company had a trading volume of 493,110 shares. The firm’s market capitalization is $1.78 billion. The stock’s 50 day moving average is $30.56 and its 200 day moving average is $27.28. Coupa Software has a 12-month low of $22.50 and a 12-month high of $41.61.
Coupa Software (NASDAQ:COUP) last posted its quarterly earnings data on Monday, March 13th. The technology company reported ($0.05) earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.21) by $0.16. The business had revenue of $38.02 million during the quarter, compared to analysts’ expectations of $35.87 million. Coupa Software’s quarterly revenue was up 44.2% compared to the same quarter last year. Equities research analysts expect that Coupa Software will post ($0.52) earnings per share for the current year.
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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