Research analysts at Needham & Company LLC started coverage on shares of Coupa Software (NASDAQ:COUP) in a note issued to investors on Wednesday, Marketbeat.com reports. The firm set a “buy” rating and a $39.00 price target on the technology company’s stock. Needham & Company LLC’s price objective indicates a potential upside of 16.11% from the stock’s current price.
COUP has been the subject of several other research reports. Royal Bank of Canada restated a “buy” rating and issued a $41.00 target price on shares of Coupa Software in a research note on Wednesday, November 15th. Barclays upgraded Coupa Software from an “equal weight” rating to an “overweight” rating and set a $38.00 target price for the company in a research note on Monday. Zacks Investment Research upgraded Coupa Software from a “sell” rating to a “hold” rating in a research note on Tuesday, November 7th. Raymond James Financial restated a “buy” rating and issued a $40.00 target price on shares of Coupa Software in a research note on Tuesday, December 12th. Finally, Cantor Fitzgerald restated a “buy” rating and issued a $38.00 target price on shares of Coupa Software in a research note on Monday, December 11th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and eleven have issued a buy rating to the company’s stock. The stock has an average rating of “Buy” and a consensus price target of $36.68.
Coupa Software (NASDAQ COUP) opened at $33.59 on Wednesday. The firm has a market capitalization of $1,850.00 and a price-to-earnings ratio of -33.59. Coupa Software has a 12 month low of $22.50 and a 12 month high of $37.72.
In other Coupa Software news, insider Anthony D. Tiscornia sold 781 shares of the firm’s stock in a transaction dated Monday, November 13th. The stock was sold at an average price of $33.18, for a total value of $25,913.58. Following the sale, the insider now owns 521 shares of the company’s stock, valued at approximately $17,286.78. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CFO Todd R. Ford sold 12,000 shares of the firm’s stock in a transaction dated Tuesday, October 17th. The shares were sold at an average price of $35.50, for a total value of $426,000.00. Following the transaction, the chief financial officer now directly owns 17,349 shares in the company, valued at $615,889.50. The disclosure for this sale can be found here. In the last ninety days, insiders sold 369,839 shares of company stock worth $12,633,920. Insiders own 32.10% of the company’s stock.
Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Sylebra HK Co Ltd raised its holdings in shares of Coupa Software by 79.9% during the 3rd quarter. Sylebra HK Co Ltd now owns 2,166,792 shares of the technology company’s stock valued at $67,496,000 after buying an additional 962,418 shares in the last quarter. Crestline Management LP purchased a new position in shares of Coupa Software during the 3rd quarter valued at about $909,000. Jane Street Group LLC purchased a new position in shares of Coupa Software during the 3rd quarter valued at about $368,000. Engineers Gate Manager LP purchased a new position in shares of Coupa Software during the 3rd quarter valued at about $1,781,000. Finally, AlpInvest Partners B.V. purchased a new position in shares of Coupa Software during the 3rd quarter valued at about $10,236,000. 74.67% of the stock is currently owned by institutional investors.
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Coupa Software Company Profile
Coupa Software Incorporated is a United States-based company, which provides a unified, cloud-based spend management platform that connects organizations with suppliers globally. The Company offers spend management cloud applications, which are pre-integrated. The platform offers consumerized financial applications.
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