Coupa Software (NASDAQ:COUP) had its price objective upped by equities researchers at Barclays to $51.00 in a research report issued to clients and investors on Tuesday, The Fly reports. The firm presently has an “overweight” rating on the technology company’s stock. Barclays’ price target points to a potential upside of 3.70% from the company’s previous close.
Several other equities analysts also recently commented on the stock. Royal Bank of Canada restated a “buy” rating and issued a $41.00 price target on shares of Coupa Software in a research note on Wednesday, November 15th. Zacks Investment Research upgraded shares of Coupa Software from a “hold” rating to a “buy” rating and set a $45.00 price target for the company in a research note on Thursday, February 8th. CIBC started coverage on shares of Coupa Software in a research note on Friday, December 22nd. They issued an “outperform” rating and a $41.00 price target for the company. Raymond James Financial restated a “buy” rating and issued a $40.00 price target on shares of Coupa Software in a research note on Tuesday, December 12th. Finally, Oppenheimer started coverage on shares of Coupa Software in a research note on Thursday, December 21st. They issued a “buy” rating and a $41.00 price target for the company. Five analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. The company has a consensus rating of “Buy” and a consensus target price of $41.53.
Shares of Coupa Software (COUP) opened at $49.18 on Tuesday. Coupa Software has a 1-year low of $22.50 and a 1-year high of $49.61. The firm has a market cap of $2,663.70, a P/E ratio of -61.48 and a beta of 1.29.
In related news, insider Ravi Thakur sold 11,240 shares of the business’s stock in a transaction on Tuesday, January 2nd. The shares were sold at an average price of $32.04, for a total transaction of $360,129.60. Following the completion of the transaction, the insider now owns 14,306 shares in the company, valued at $458,364.24. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CEO Robert Bernshteyn sold 63,225 shares of the business’s stock in a transaction on Friday, February 16th. The stock was sold at an average price of $41.68, for a total transaction of $2,635,218.00. Following the transaction, the chief executive officer now owns 197,244 shares of the company’s stock, valued at approximately $8,221,129.92. The disclosure for this sale can be found here. In the last quarter, insiders have sold 287,753 shares of company stock valued at $10,593,997. Insiders own 32.10% of the company’s stock.
Hedge funds have recently modified their holdings of the stock. Highland Capital Management LP acquired a new position in shares of Coupa Software during the fourth quarter worth $3,122,000. Hershey Trust Co. lifted its position in Coupa Software by 1,252.0% in the fourth quarter. Hershey Trust Co. now owns 25,025 shares of the technology company’s stock valued at $781,000 after acquiring an additional 23,174 shares during the last quarter. AlpInvest Partners B.V. purchased a new stake in Coupa Software in the third quarter valued at $10,236,000. Crestline Management LP purchased a new stake in Coupa Software in the third quarter valued at $909,000. Finally, First Trust Advisors LP purchased a new stake in Coupa Software in the third quarter valued at $1,280,000. Hedge funds and other institutional investors own 88.39% of the company’s stock.
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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