Coupa Software Inc (NASDAQ:COUP) shares reached a new 52-week high during trading on Monday following a stronger than expected earnings report. The stock traded as high as $48.96 and last traded at $49.01, with a volume of 605015 shares changing hands. The stock had previously closed at $48.39.
The technology company reported $0.02 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.15) by $0.17. Coupa Software had a negative net margin of 24.37% and a negative return on equity of 20.40%. The business had revenue of $53.80 million during the quarter, compared to analyst estimates of $48.64 million. During the same period in the previous year, the business earned ($0.05) EPS. Coupa Software’s revenue was up 41.5% compared to the same quarter last year.
A number of research analysts recently weighed in on COUP shares. Royal Bank of Canada reiterated a “buy” rating and issued a $41.00 price objective on shares of Coupa Software in a research note on Wednesday, November 15th. Northland Securities set a $41.00 price target on shares of Coupa Software and gave the company a “buy” rating in a report on Wednesday, January 17th. Needham & Company LLC started coverage on shares of Coupa Software in a report on Wednesday, January 10th. They issued a “buy” rating and a $39.00 price target for the company. Zacks Investment Research raised shares of Coupa Software from a “hold” rating to a “buy” rating and set a $36.00 price target for the company in a report on Thursday, December 7th. Finally, Cantor Fitzgerald reissued a “buy” rating and issued a $36.00 price target on shares of Coupa Software in a report on Tuesday, December 5th. Four investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. Coupa Software currently has an average rating of “Buy” and an average target price of $46.00.
Several hedge funds and other institutional investors have recently bought and sold shares of the company. Sylebra HK Co Ltd lifted its holdings in shares of Coupa Software by 82.9% during the 4th quarter. Sylebra HK Co Ltd now owns 3,962,308 shares of the technology company’s stock worth $123,703,000 after acquiring an additional 1,795,516 shares during the last quarter. MetLife Investment Advisors LLC bought a new stake in shares of Coupa Software during the 4th quarter worth $443,000. Pacific Grove Capital LP bought a new stake in shares of Coupa Software during the 4th quarter worth $3,016,000. Paloma Partners Management Co bought a new stake in shares of Coupa Software during the 4th quarter worth $594,000. Finally, Two Sigma Investments LP lifted its holdings in shares of Coupa Software by 26.3% during the 4th quarter. Two Sigma Investments LP now owns 362,960 shares of the technology company’s stock worth $11,332,000 after acquiring an additional 75,596 shares during the last quarter. 88.39% of the stock is owned by institutional investors.
The firm has a market capitalization of $2,660.00 and a price-to-earnings ratio of -47.53.
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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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