Goldman Sachs Group Increases Coupa Software (NASDAQ:COUP) Price Target to $322.00

Coupa Software (NASDAQ:COUP) had its price objective boosted by investment analysts at Goldman Sachs Group from $245.00 to $322.00 in a research note issued on Monday, The Fly reports. The brokerage presently has a “buy” rating on the technology company’s stock. Goldman Sachs Group’s price objective suggests a potential upside of 16.23% from the stock’s current price.

A number of other equities analysts also recently issued reports on the company. Wedbush downgraded Coupa Software from an “outperform” rating to a “neutral” rating and set a $198.00 target price for the company. in a research note on Thursday, May 28th. Mizuho raised their price objective on Coupa Software from $130.00 to $200.00 and gave the company a “buy” rating in a research note on Wednesday, May 20th. Piper Sandler downgraded Coupa Software from an “overweight” rating to a “neutral” rating and set a $130.00 price objective for the company. in a research note on Tuesday, March 31st. Morgan Stanley raised their price objective on Coupa Software from $229.00 to $249.00 and gave the company an “overweight” rating in a research note on Tuesday, June 9th. Finally, Bank of America raised their price objective on Coupa Software from $235.00 to $285.00 and gave the company a “buy” rating in a research note on Thursday, June 25th. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating and sixteen have assigned a buy rating to the company. The stock currently has an average rating of “Buy” and an average price target of $198.54.

Coupa Software stock opened at $277.04 on Monday. Coupa Software has a twelve month low of $99.01 and a twelve month high of $280.15. The stock has a 50 day moving average of $232.28 and a two-hundred day moving average of $174.04. The company has a current ratio of 2.03, a quick ratio of 2.03 and a debt-to-equity ratio of 1.28. The stock has a market capitalization of $18.49 billion, a price-to-earnings ratio of -205.21 and a beta of 1.48.

Coupa Software (NASDAQ:COUP) last issued its earnings results on Monday, June 8th. The technology company reported $0.20 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.07 by $0.13. The business had revenue of $119.21 million during the quarter, compared to the consensus estimate of $111.84 million. Coupa Software had a negative return on equity of 8.12% and a negative net margin of 19.92%. The company’s revenue for the quarter was up 46.6% on a year-over-year basis. During the same period in the prior year, the business posted $0.03 EPS. Equities analysts predict that Coupa Software will post -0.87 earnings per share for the current year.

In related news, CAO Anthony D. Tiscornia sold 988 shares of Coupa Software stock in a transaction on Monday, April 6th. The stock was sold at an average price of $130.25, for a total value of $128,687.00. Following the transaction, the chief accounting officer now owns 200 shares in the company, valued at $26,050. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Mark Riggs sold 929 shares of Coupa Software stock in a transaction on Friday, April 24th. The shares were sold at an average price of $161.62, for a total value of $150,144.98. Following the completion of the transaction, the insider now owns 644 shares in the company, valued at approximately $104,083.28. The disclosure for this sale can be found here. Insiders sold 230,871 shares of company stock worth $47,490,478 in the last quarter. 3.40% of the stock is owned by insiders.

Institutional investors have recently modified their holdings of the stock. Clearbridge Investments LLC acquired a new position in Coupa Software in the first quarter valued at $28,000. Meeder Asset Management Inc. raised its position in Coupa Software by 2,855.6% in the fourth quarter. Meeder Asset Management Inc. now owns 266 shares of the technology company’s stock valued at $39,000 after purchasing an additional 257 shares during the period. Exchange Traded Concepts LLC purchased a new position in Coupa Software in the first quarter valued at about $39,000. Orion Portfolio Solutions LLC purchased a new position in Coupa Software in the fourth quarter valued at about $41,000. Finally, Synovus Financial Corp purchased a new position in Coupa Software in the first quarter valued at about $46,000.

Coupa Software Company Profile

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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The Fly

Analyst Recommendations for Coupa Software (NASDAQ:COUP)

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