Coupa Software (COUP) Downgraded by Zacks Investment Research

Zacks Investment Research lowered shares of Coupa Software (NASDAQ:COUP) from a buy rating to a hold rating in a research report report published on Tuesday.

According to Zacks, “Coupa Software Inc. provides cloud-based spend management platform which connects organizations with suppliers. Coupa Software Inc. is based in SAN MATEO, United States. “

COUP has been the subject of several other reports. Barclays boosted their target price on shares of Coupa Software from $53.00 to $58.00 and gave the stock an equal weight rating in a research report on Wednesday, August 15th. Oppenheimer boosted their target price on shares of Coupa Software from $62.00 to $77.00 and gave the stock an outperform rating in a research report on Wednesday, August 29th. Raymond James boosted their target price on shares of Coupa Software from $60.00 to $86.00 and gave the stock an outperform rating in a research report on Wednesday, September 5th. Cantor Fitzgerald boosted their price target on shares of Coupa Software from $67.00 to $92.00 and gave the stock an overweight rating in a report on Wednesday, September 5th. Finally, Morgan Stanley boosted their price target on shares of Coupa Software from $57.00 to $62.00 and gave the stock an equal weight rating in a report on Tuesday, September 4th. Eight research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. The company has an average rating of Buy and a consensus price target of $63.69.

Shares of NASDAQ:COUP traded down $5.89 during midday trading on Tuesday, hitting $62.59. 45,944 shares of the company’s stock were exchanged, compared to its average volume of 919,982. The company has a market cap of $3.57 billion, a PE ratio of -82.04 and a beta of 1.79. Coupa Software has a 12 month low of $30.65 and a 12 month high of $84.53.

Coupa Software (NASDAQ:COUP) last posted its earnings results on Tuesday, September 4th. The technology company reported ($0.17) EPS for the quarter, topping the consensus estimate of ($0.30) by $0.13. The company had revenue of $61.65 million during the quarter, compared to the consensus estimate of $56.61 million. Coupa Software had a negative net margin of 22.52% and a negative return on equity of 16.73%. As a group, equities research analysts predict that Coupa Software will post -0.98 earnings per share for the current year.

In other Coupa Software news, insider Mark Riggs sold 7,908 shares of the business’s stock in a transaction dated Wednesday, October 31st. The shares were sold at an average price of $65.00, for a total value of $514,020.00. The transaction 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 dated Friday, August 17th. The shares were sold at an average price of $66.73, for a total transaction of $4,219,004.25. Following the completion of the transaction, the chief executive officer now owns 204,218 shares in the company, valued at $13,627,467.14. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 293,604 shares of company stock worth $20,556,439. 6.50% of the stock is owned by corporate insiders.

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. OppenheimerFunds Inc. purchased a new position in Coupa Software in the second quarter valued at about $18,291,000. Bank of New York Mellon Corp lifted its stake in shares of Coupa Software by 35.0% during the 2nd quarter. Bank of New York Mellon Corp now owns 219,325 shares of the technology company’s stock valued at $13,651,000 after buying an additional 56,892 shares in the last quarter. Granahan Investment Management Inc. MA purchased a new stake in shares of Coupa Software during the 2nd quarter valued at approximately $14,331,000. Temasek Holdings Private Ltd lifted its stake in shares of Coupa Software by 56.1% during the 2nd quarter. Temasek Holdings Private Ltd now owns 37,217 shares of the technology company’s stock valued at $2,316,000 after buying an additional 13,380 shares in the last quarter. Finally, Gilder Gagnon Howe & Co. LLC lifted its stake in shares of Coupa Software by 14.7% during the 2nd quarter. Gilder Gagnon Howe & Co. LLC now owns 220,608 shares of the technology company’s stock valued at $13,731,000 after buying an additional 28,284 shares in the last quarter. Hedge funds and other institutional investors own 97.18% of the company’s stock.

Coupa Software Company Profile

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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