Shares of Coupa Software Inc (NASDAQ:COUP) were up 7% on Friday after Morgan Stanley raised their price target on the stock from $182.00 to $229.00. Morgan Stanley currently has an overweight rating on the stock. Coupa Software traded as high as $228.45 and last traded at $227.48, approximately 1,973,675 shares changed hands during mid-day trading. An increase of 17% from the average daily volume of 1,691,014 shares. The stock had previously closed at $212.55.
COUP has been the subject of several other research reports. Royal Bank of Canada decreased their price target on Coupa Software from $190.00 to $140.00 and set an "outperform" rating for the company in a research note on Tuesday, March 17th. Wells Fargo & Co cut their price objective on Coupa Software from $140.00 to $120.00 and set an "equal weight" rating for the company in a report on Tuesday, March 17th. Bank of America lifted their price objective on Coupa Software from $185.00 to $195.00 and gave the stock a "buy" rating in a report on Thursday, February 27th. ValuEngine lowered Coupa Software from a "buy" rating to a "hold" rating in a report on Friday, May 1st. Finally, Oppenheimer cut their price objective on Coupa Software from $200.00 to $145.00 and set an "outperform" rating for the company in a report on Tuesday, March 17th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and nineteen have given a buy rating to the stock. The company currently has a consensus rating of "Buy" and an average price target of $154.64.
In other news, Director Veenendaal Frank Van sold 1,299 shares of the business's stock in a transaction dated Monday, March 16th. The stock was sold at an average price of $115.00, for a total value of $149,385.00. Following the transaction, the director now directly owns 72,592 shares in the company, valued at $8,348,080. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Mark Riggs sold 929 shares of the business's stock in a transaction dated Monday, February 24th. The shares were sold at an average price of $154.01, for a total value of $143,075.29. Following the completion of the transaction, the insider now owns 644 shares in the company, valued at $99,182.44. The disclosure for this sale can be found here. Insiders have sold 193,721 shares of company stock valued at $33,615,970 in the last three months. 3.40% of the stock is currently owned by corporate insiders.
Institutional investors have recently made changes to their positions in the company. Sunbelt Securities Inc. purchased a new position in shares of Coupa Software in the fourth quarter valued at about $4,570,000. Clearbridge Investments LLC purchased a new position in shares of Coupa Software in the first quarter valued at about $28,000. Meeder Asset Management Inc. lifted its position in shares of 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 acquiring an additional 257 shares in the last quarter. Exchange Traded Concepts LLC purchased a new position in shares of Coupa Software in the first quarter valued at about $39,000. Finally, Orion Portfolio Solutions LLC purchased a new position in shares of Coupa Software in the fourth quarter valued at about $41,000.
The company has a debt-to-equity ratio of 1.27, a current ratio of 1.82 and a quick ratio of 1.82. The company has a market capitalization of $14.25 billion, a PE ratio of -145.58 and a beta of 1.40. The business has a 50-day moving average of $168.48 and a 200 day moving average of $155.43.
Coupa Software (NASDAQ:COUP) last posted its earnings results on Monday, March 16th. The technology company reported $0.21 EPS for the quarter, topping analysts' consensus estimates of $0.05 by $0.16. The company had revenue of $111.45 million for the quarter, compared to the consensus estimate of $102.51 million. Coupa Software had a negative return on equity of 10.01% and a negative net margin of 23.31%. The firm's revenue for the quarter was up 48.8% on a year-over-year basis. During the same period in the previous year, the business earned $0.05 earnings per share. As a group, research analysts anticipate that Coupa Software Inc will post -0.95 EPS for the current year.
About Coupa Software (NASDAQ:COUP)
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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