Morgan Stanley Increases Coupa Software (NASDAQ:COUP) Price Target to $122.00

Coupa Software (NASDAQ:COUP) had its target price lifted by Morgan Stanley from $111.00 to $122.00 in a report released on Thursday morning, BenzingaRatingsTable reports. Morgan Stanley currently has an equal weight rating on the technology company’s stock.

Several other equities research analysts have also weighed in on the company. Loop Capital lifted their price target on Coupa Software to $125.00 and gave the company a buy rating in a research report on Thursday, June 6th. JPMorgan Chase & Co. lifted their price target on Coupa Software from $75.00 to $90.00 and gave the company a neutral rating in a research report on Tuesday, June 4th. Needham & Company LLC restated a buy rating and set a $140.00 price target (up from $120.00) on shares of Coupa Software in a research report on Thursday, June 27th. Zacks Investment Research upgraded Coupa Software from a sell rating to a hold rating and set a $148.00 price target on the stock in a research report on Monday, August 5th. Finally, Deutsche Bank initiated coverage on Coupa Software in a research report on Wednesday, July 24th. They set a hold rating and a $150.00 price target on the stock. Seven research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. The stock currently has an average rating of Buy and an average price target of $123.94.

Shares of COUP stock opened at $138.25 on Thursday. Coupa Software has a fifty-two week low of $52.01 and a fifty-two week high of $148.00. The business’s 50 day moving average price is $137.81 and its 200-day moving average price is $110.57. The company has a current ratio of 1.07, a quick ratio of 1.07 and a debt-to-equity ratio of 0.07.

Coupa Software (NASDAQ:COUP) last issued its quarterly earnings data on Monday, June 3rd. The technology company reported $0.03 earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.26) by $0.29. The firm had revenue of $81.30 million for the quarter, compared to analyst estimates of $73.85 million. Coupa Software had a negative return on equity of 14.29% and a negative net margin of 21.22%. The business’s quarterly revenue was up 44.1% compared to the same quarter last year. During the same period last year, the company earned ($0.01) EPS. On average, equities research analysts expect that Coupa Software will post -1.15 earnings per share for the current fiscal year.

In other Coupa Software news, CFO Todd R. Ford sold 112,500 shares of the business’s stock in a transaction on Tuesday, June 11th. The stock was sold at an average price of $118.50, for a total value of $13,331,250.00. Following the sale, the chief financial officer now directly owns 30,595 shares of the company’s stock, valued at $3,625,507.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CAO Anthony D. Tiscornia sold 260 shares of the business’s stock in a transaction on Wednesday, June 12th. The stock was sold at an average price of $118.81, for a total value of $30,890.60. Following the completion of the sale, the chief accounting officer now directly owns 260 shares in the company, valued at $30,890.60. The disclosure for this sale can be found here. Insiders have sold 322,931 shares of company stock worth $41,125,664 over the last 90 days. 5.30% of the stock is currently owned by corporate insiders.

A number of institutional investors have recently added to or reduced their stakes in the business. Morgan Stanley boosted its holdings in Coupa Software by 1.9% in the second quarter. Morgan Stanley now owns 5,752,089 shares of the technology company’s stock worth $728,271,000 after acquiring an additional 105,486 shares in the last quarter. Vanguard Group Inc. boosted its holdings in Coupa Software by 1.0% in the second quarter. Vanguard Group Inc. now owns 5,394,454 shares of the technology company’s stock worth $682,992,000 after acquiring an additional 51,060 shares in the last quarter. BlackRock Inc. boosted its holdings in Coupa Software by 9.2% in the first quarter. BlackRock Inc. now owns 4,594,228 shares of the technology company’s stock worth $417,984,000 after acquiring an additional 387,325 shares in the last quarter. FMR LLC boosted its holdings in Coupa Software by 86.9% in the first quarter. FMR LLC now owns 3,467,506 shares of the technology company’s stock worth $315,474,000 after acquiring an additional 1,612,326 shares in the last quarter. Finally, Whale Rock Capital Management LLC boosted its holdings in Coupa Software by 14.6% in the second quarter. Whale Rock Capital Management LLC now owns 3,141,702 shares of the technology company’s stock worth $397,771,000 after acquiring an additional 399,401 shares in the last quarter.

About Coupa Software

Coupa Software, Inc engages in providing business spend management (BSM) solutions. It offers cloud-based BSM platform that delivers a broad range of capabilities that would typically require the purchase and use of multiple disparate point applications. Its platform consists of procurement, invoicing, expense management and payments modules that form the transactional engine for managing a company’s business spend.

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Analyst Recommendations for Coupa Software (NASDAQ:COUP)

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