Coupa Software (NASDAQ:COUP) Releases FY 2023 Earnings Guidance

Coupa Software (NASDAQ:COUPGet Rating) updated its FY 2023 earnings guidance on Monday. The company provided earnings per share guidance of $0.21-$0.27 for the period, compared to the consensus earnings per share estimate of $0.20. The company issued revenue guidance of $838.00 million-$843.00 million, compared to the consensus revenue estimate of $840.27 million. Coupa Software also updated its Q2 2023 guidance to $0.07-$0.10 EPS.

A number of analysts recently weighed in on COUP shares. Raymond James upped their target price on shares of Coupa Software from $75.00 to $90.00 in a report on Tuesday, June 7th. UBS Group lowered their price objective on Coupa Software to $84.00 in a research report on Friday, June 3rd. The Goldman Sachs Group lowered Coupa Software from a neutral rating to a sell rating and dropped their price objective for the company from $83.00 to $64.00 in a research note on Thursday, May 12th. Oppenheimer lowered Coupa Software from an outperform rating to a market perform rating in a research note on Tuesday, March 15th. Finally, Needham & Company LLC dropped their price target on Coupa Software from $210.00 to $90.00 and set a buy rating for the company in a research report on Tuesday, March 15th. Two investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and ten have given a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of Hold and a consensus target price of $101.89.

Shares of Coupa Software stock opened at $63.76 on Wednesday. The company has a quick ratio of 1.81, a current ratio of 1.81 and a debt-to-equity ratio of 6.42. Coupa Software has a one year low of $50.54 and a one year high of $283.38. The business’s 50 day simple moving average is $67.94 and its two-hundred day simple moving average is $102.27.

Coupa Software (NASDAQ:COUPGet Rating) last issued its earnings results on Monday, June 6th. The technology company reported ($0.62) EPS for the quarter, missing the consensus estimate of ($0.57) by ($0.05). Coupa Software had a negative return on equity of 17.87% and a negative net margin of 47.72%. The firm had revenue of $196.37 million during the quarter, compared to analysts’ expectations of $190.69 million. During the same period in the previous year, the firm earned ($0.57) earnings per share. The firm’s quarterly revenue was up 17.6% compared to the same quarter last year. On average, research analysts predict that Coupa Software will post -2.63 EPS for the current fiscal year.

In related news, CEO Robert Bernshteyn sold 8,076 shares of the business’s stock in a transaction dated Tuesday, June 21st. The stock was sold at an average price of $55.11, for a total transaction of $445,068.36. Following the transaction, the chief executive officer now owns 245,620 shares in the company, valued at approximately $13,536,118.20. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Mark Riggs sold 2,017 shares of the business’s stock in a transaction dated Tuesday, June 21st. The shares were sold at an average price of $55.11, for a total transaction of $111,156.87. Following the transaction, the insider now owns 3,729 shares in the company, valued at approximately $205,505.19. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 15,190 shares of company stock valued at $856,225. 2.20% of the stock is currently owned by company insiders.

Hedge funds have recently bought and sold shares of the business. First Growth Investment Manager LP grew its holdings in shares of Coupa Software by 18.8% during the 1st quarter. First Growth Investment Manager LP now owns 22,125 shares of the technology company’s stock worth $2,249,000 after acquiring an additional 3,500 shares during the period. Baird Financial Group Inc. increased its stake in shares of Coupa Software by 2.5% in the 1st quarter. Baird Financial Group Inc. now owns 18,122 shares of the technology company’s stock worth $1,842,000 after acquiring an additional 450 shares in the last quarter. Dynamic Technology Lab Private Ltd increased its stake in Coupa Software by 368.0% during the 1st quarter. Dynamic Technology Lab Private Ltd now owns 14,130 shares of the technology company’s stock valued at $1,436,000 after purchasing an additional 11,111 shares in the last quarter. Quantbot Technologies LP increased its stake in Coupa Software by 34.3% during the 1st quarter. Quantbot Technologies LP now owns 9,658 shares of the technology company’s stock valued at $981,000 after purchasing an additional 2,466 shares in the last quarter. Finally, Prudential Financial Inc. boosted its holdings in shares of Coupa Software by 77.2% during the 1st quarter. Prudential Financial Inc. now owns 6,454 shares of the technology company’s stock valued at $656,000 after acquiring an additional 2,811 shares during the last quarter. Hedge funds and other institutional investors own 95.45% of the company’s stock.

Coupa Software Company Profile (Get Rating)

Coupa Software Incorporated provides cloud-based business spend management platform that connects its customers with suppliers worldwide. The company provides visibility into and control over how companies spend money, optimize supply chains, and manage liquidity, as well as enables businesses to achieve savings that drive profitability.

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Earnings History and Estimates for Coupa Software (NASDAQ:COUP)

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