Coupa Software (NASDAQ:COUP) had its price target boosted by equities research analysts at Loop Capital to $48.00 in a note issued to investors on Wednesday. The brokerage presently has a “hold” rating on the technology company’s stock. Loop Capital’s price objective suggests a potential upside of 2.17% from the company’s previous close.
A number of other equities research analysts have also recently commented on COUP. Royal Bank of Canada reaffirmed a “buy” rating and issued a $41.00 target price on shares of Coupa Software in a report on Wednesday, November 15th. Barclays reaffirmed a “hold” rating and issued a $38.00 target price (up from $34.00) on shares of Coupa Software in a report on Monday, November 27th. Cantor Fitzgerald reaffirmed a “buy” rating and issued a $36.00 target price on shares of Coupa Software in a report on Tuesday, December 5th. Zacks Investment Research raised shares of Coupa Software from a “hold” rating to a “buy” rating and set a $36.00 target price for the company in a report on Thursday, December 7th. Finally, Raymond James Financial reissued a “buy” rating and set a $40.00 price target on shares of Coupa Software in a report on Tuesday, December 12th. Five investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. Coupa Software has an average rating of “Buy” and an average target price of $46.13.
Shares of Coupa Software (NASDAQ:COUP) traded down $0.55 during trading hours on Wednesday, hitting $46.98. 341,410 shares of the stock were exchanged, compared to its average volume of 773,380. Coupa Software has a 1-year low of $22.50 and a 1-year high of $50.69. The stock has a market capitalization of $2,707.19, a PE ratio of -56.27 and a beta of 1.29.
In other Coupa Software news, SVP Ravi Thakur sold 11,240 shares of the stock in a transaction dated Thursday, March 1st. The shares were sold at an average price of $44.38, for a total value of $498,831.20. Following the completion of the transaction, the senior vice president now directly owns 14,306 shares of the company’s stock, valued at $634,900.28. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CEO Robert Bernshteyn sold 63,225 shares of the stock in a transaction dated Friday, December 15th. The shares were sold at an average price of $33.13, for a total transaction of $2,094,644.25. Following the completion of the transaction, the chief executive officer now directly owns 162,343 shares of the company’s stock, valued at $5,378,423.59. The disclosure for this sale can be found here. Insiders have sold 287,753 shares of company stock valued at $10,593,997 over the last three months. 32.10% of the stock is currently owned by corporate insiders.
Institutional investors have recently modified their holdings of the business. Highland Capital Management LP purchased a new position in Coupa Software in the fourth quarter valued at about $3,122,000. Hershey Trust Co. grew its position in shares of 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 purchasing an additional 23,174 shares during the last quarter. AlpInvest Partners B.V. acquired a new stake in shares of Coupa Software in the third quarter valued at approximately $10,236,000. Crestline Management LP acquired a new stake in shares of Coupa Software in the third quarter valued at approximately $909,000. Finally, First Trust Advisors LP acquired a new stake in shares of Coupa Software in the third quarter valued at approximately $1,280,000. 88.39% of the stock is owned by institutional investors.
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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