Shares of Coupa Software (NASDAQ:COUP) were up 5.5% on Friday . The company traded as high as $34.45 and last traded at $34.20. Approximately 1,064,980 shares traded hands during mid-day trading, an increase of 164% from the average daily volume of 402,979 shares. The stock had previously closed at $32.42.
A number of analysts have recently weighed in on COUP shares. Zacks Investment Research cut Coupa Software from a “hold” rating to a “sell” rating in a research report on Friday, September 8th. First Analysis assumed coverage on Coupa Software in a research report on Monday, August 7th. They set an “overweight” rating and a $37.00 price target for the company. Cantor Fitzgerald assumed coverage on Coupa Software in a research report on Thursday, July 20th. They set an “overweight” rating and a $35.00 price target for the company. Royal Bank Of Canada lifted their price target on Coupa Software from $40.00 to $41.00 and gave the stock an “outperform” rating in a research report on Wednesday, September 6th. Finally, Northland Securities reaffirmed a “buy” rating and set a $38.00 price target on shares of Coupa Software in a research report on Thursday, August 10th. Two analysts have rated the stock with a sell rating, four have given a hold rating and seven have given a buy rating to the stock. The company presently has an average rating of “Hold” and a consensus target price of $35.16.
The company’s market capitalization is $1.83 billion. The firm’s 50-day moving average price is $31.47 and its 200-day moving average price is $31.47.
Coupa Software (NASDAQ:COUP) last announced its earnings results on Tuesday, September 5th. The technology company reported ($0.10) earnings per share for the quarter, topping the consensus estimate of ($0.28) by $0.18. Coupa Software had a negative net margin of 24.00% and a negative return on equity of 19.01%. The business had revenue of $44.60 million during the quarter, compared to the consensus estimate of $41.59 million. The company’s revenue for the quarter was up 43.4% compared to the same quarter last year. Equities research analysts expect that Coupa Software will post ($0.48) earnings per share for the current fiscal year.
In related news, CFO Todd R. Ford sold 1,446 shares of the firm’s stock in a transaction dated Thursday, September 21st. The shares were sold at an average price of $31.16, for a total value of $45,057.36. Following the completion of the sale, the chief financial officer now owns 4,063 shares in the company, valued at $126,603.08. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, major shareholder Ix Lp Mdv sold 1,662,000 shares of the firm’s stock in a transaction dated Wednesday, July 12th. The shares were sold at an average price of $31.25, for a total transaction of $51,937,500.00. The disclosure for this sale can be found here. Insiders have sold 2,065,026 shares of company stock valued at $64,267,396 in the last quarter. Insiders own 32.10% of the company’s stock.
A number of large investors have recently made changes to their positions in the stock. Nationwide Fund Advisors lifted its position in Coupa Software by 22.7% in the first quarter. Nationwide Fund Advisors now owns 5,131 shares of the technology company’s stock valued at $130,000 after purchasing an additional 949 shares during the period. Schwab Charles Investment Management Inc. lifted its position in Coupa Software by 5.1% in the first quarter. Schwab Charles Investment Management Inc. now owns 28,056 shares of the technology company’s stock valued at $713,000 after purchasing an additional 1,368 shares during the period. JPMorgan Chase & Co. lifted its position in Coupa Software by 1.2% in the first quarter. JPMorgan Chase & Co. now owns 207,666 shares of the technology company’s stock valued at $5,274,000 after purchasing an additional 2,560 shares during the period. BNP Paribas Arbitrage SA lifted its position in Coupa Software by 2,294.8% in the second quarter. BNP Paribas Arbitrage SA now owns 3,664 shares of the technology company’s stock valued at $106,000 after purchasing an additional 3,511 shares during the period. Finally, Hillsdale Investment Management Inc. acquired a new stake in Coupa Software in the second quarter valued at about $142,000. Hedge funds and other institutional investors own 63.60% of the company’s stock.
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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