Coupa Software (COUP) Shares Gap Down to $61.00

Coupa Software Inc (NASDAQ:COUP)’s share price gapped down prior to trading on Thursday . The stock had previously closed at $55.99, but opened at $61.00. Coupa Software shares last traded at $65.03, with a volume of 1199411 shares traded.

COUP has been the topic of a number of research reports. Morgan Stanley upped their price target on shares of Coupa Software from $57.00 to $62.00 and gave the stock an “equal weight” rating in a research note on Tuesday, September 4th. Northland Securities downgraded shares of Coupa Software from an “outperform” rating to a “market perform” rating in a research note on Tuesday, September 11th. Oppenheimer upped their price target on shares of Coupa Software from $62.00 to $77.00 and gave the stock an “outperform” rating in a research note on Wednesday, August 29th. Cantor Fitzgerald upped their price target on shares of Coupa Software from $67.00 to $92.00 and gave the stock an “overweight” rating in a research note on Wednesday, September 5th. Finally, Zacks Investment Research raised shares of Coupa Software from a “hold” rating to a “buy” rating and set a $86.00 price target on the stock in a research note on Friday, September 7th. Six analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and an average target price of $64.35.

The firm has a market capitalization of $3.84 billion, a PE ratio of -79.09 and a beta of 1.76.

Coupa Software (NASDAQ:COUP) last issued its quarterly earnings data on Monday, December 3rd. The technology company reported $0.08 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of ($0.03) by $0.11. The firm had revenue of $67.46 million during the quarter, compared to analysts’ expectations of $62.59 million. Coupa Software had a negative net margin of 19.93% and a negative return on equity of 14.93%. Coupa Software’s revenue for the quarter was up 42.5% on a year-over-year basis. During the same period in the prior year, the company posted ($0.05) earnings per share. Equities analysts anticipate that Coupa Software Inc will post -0.82 earnings per share for the current fiscal year.

In related news, Director Roger S. Siboni sold 16,591 shares of the company’s stock in a transaction on Thursday, December 6th. The shares were sold at an average price of $63.04, for a total value of $1,045,896.64. Following the completion of the sale, the director now directly owns 21,879 shares in the company, valued at $1,379,252.16. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Mark Riggs sold 644 shares of the company’s stock in a transaction on Friday, November 30th. The stock was sold at an average price of $65.00, for a total transaction of $41,860.00. Following the completion of the sale, the insider now owns 1,141 shares of the company’s stock, valued at $74,165. The disclosure for this sale can be found here. Insiders sold 300,839 shares of company stock valued at $20,082,699 over the last quarter. 6.50% of the stock is currently owned by corporate insiders.

A number of hedge funds have recently added to or reduced their stakes in COUP. SG Americas Securities LLC bought a new stake in Coupa Software during the second quarter valued at about $153,000. GAM Holding AG bought a new stake in Coupa Software during the second quarter valued at about $204,000. Quantitative Systematic Strategies LLC bought a new stake in Coupa Software during the second quarter valued at about $211,000. D.A. Davidson & CO. bought a new stake in Coupa Software during the third quarter valued at about $220,000. Finally, Great West Life Assurance Co. Can boosted its holdings in Coupa Software by 50.5% during the second quarter. Great West Life Assurance Co. Can now owns 4,064 shares of the technology company’s stock valued at $253,000 after acquiring an additional 1,364 shares during the period. Institutional investors own 96.79% of the company’s stock.

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Coupa Software Company Profile (NASDAQ:COUP)

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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