Coupa Software (NASDAQ:COUP) Price Target Lowered to $300.00 at Raymond James

Coupa Software (NASDAQ:COUP) had its target price reduced by Raymond James from $365.00 to $300.00 in a research note issued to investors on Tuesday morning, Analyst Ratings Network reports. Raymond James currently has an outperform rating on the technology company’s stock.

Several other equities research analysts have also issued reports on COUP. Barclays dropped their target price on shares of Coupa Software from $292.00 to $250.00 and set an equal weight rating for the company in a research report on Tuesday. Piper Sandler dropped their target price on shares of Coupa Software from $315.00 to $300.00 and set an overweight rating for the company in a research report on Tuesday. Oppenheimer dropped their target price on shares of Coupa Software from $320.00 to $260.00 and set an outperform rating for the company in a research report on Tuesday. Citigroup dropped their target price on shares of Coupa Software from $272.00 to $254.00 and set a neutral rating for the company in a research report on Tuesday. Finally, The Goldman Sachs Group upgraded shares of Coupa Software from a buy rating to a conviction-buy rating in a research report on Monday, March 8th. One investment analyst has rated the stock with a sell rating, eight have given a hold rating, fourteen have issued a buy rating and one has assigned a strong buy rating to the stock. The stock currently has a consensus rating of Buy and a consensus target price of $305.21.

COUP stock opened at $223.47 on Tuesday. The company has a 50 day moving average price of $247.62. The company has a debt-to-equity ratio of 0.86, a current ratio of 0.80 and a quick ratio of 0.80. Coupa Software has a 12 month low of $214.14 and a 12 month high of $377.04. The company has a market capitalization of $16.40 billion, a price-to-earnings ratio of -85.95 and a beta of 1.45.

Coupa Software (NASDAQ:COUP) last released its quarterly earnings data on Sunday, June 6th. The technology company reported $0.07 EPS for the quarter, beating analysts’ consensus estimates of ($1.01) by $1.08. Coupa Software had a negative net margin of 45.08% and a negative return on equity of 22.19%. Analysts anticipate that Coupa Software will post -3.71 EPS for the current fiscal year.

In other Coupa Software news, insider Mark Riggs sold 929 shares of the business’s stock in a transaction on Tuesday, May 25th. The shares were sold at an average price of $240.29, for a total transaction of $223,229.41. Following the transaction, the insider now directly owns 1,722 shares of the company’s stock, valued at approximately $413,779.38. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CAO Anthony D. Tiscornia sold 1,450 shares of the business’s stock in a transaction on Monday, March 22nd. The shares were sold at an average price of $256.41, for a total transaction of $371,794.50. Following the transaction, the chief accounting officer now directly owns 1,039 shares in the company, valued at $266,409.99. The disclosure for this sale can be found here. Over the last three months, insiders have sold 176,520 shares of company stock worth $43,984,671. Insiders own 2.60% of the company’s stock.

A number of institutional investors have recently modified their holdings of COUP. Price T Rowe Associates Inc. MD increased its position in Coupa Software by 75.1% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 8,881,490 shares of the technology company’s stock valued at $2,260,162,000 after purchasing an additional 3,810,279 shares during the period. Viking Global Investors LP bought a new stake in shares of Coupa Software during the 1st quarter valued at $456,732,000. Artisan Partners Limited Partnership bought a new stake in shares of Coupa Software during the 4th quarter valued at $423,560,000. D1 Capital Partners L.P. bought a new stake in shares of Coupa Software during the 1st quarter valued at $235,140,000. Finally, Norges Bank bought a new stake in shares of Coupa Software during the 4th quarter valued at $230,243,000.

Coupa Software Company Profile

Coupa Software Incorporated provides cloud-based business spend management platform. Its platform connects organizations with suppliers globally; and provides visibility into and control over how companies spend money, optimize supply chains, and manage liquidity, as well as enables businesses to achieve savings that drive profitability.

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Analyst Recommendations for Coupa Software (NASDAQ:COUP)

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