Coupa Software Inc (COUP) Upgraded by Zacks Investment Research to “Hold”

Zacks Investment Research upgraded shares of Coupa Software Inc (NASDAQ:COUP) from a sell rating to a hold rating in a report published on Friday morning.

According to Zacks, “Coupa Software Inc. provides cloud-based spend management platform which connects organizations with suppliers. Coupa Software Inc. is based in SAN MATEO, United States. “

Other equities research analysts have also issued reports about the stock. Barclays PLC reaffirmed an equal weight rating and issued a $28.00 price objective on shares of Coupa Software in a research note on Wednesday, November 30th. JMP Securities upped their price objective on shares of Coupa Software from $30.00 to $31.00 and gave the company an outperform rating in a research note on Tuesday, December 6th. Loop Capital assumed coverage on shares of Coupa Software in a research note on Tuesday, February 14th. They issued a hold rating and a $27.00 price objective on the stock. Royal Bank of Canada reaffirmed an outperform rating and issued a $35.00 price objective (up from $31.00) on shares of Coupa Software in a research note on Thursday, December 1st. Finally, Vetr lowered shares of Coupa Software from a hold rating to a strong sell rating and set a $24.91 price objective on the stock. in a research note on Wednesday, February 22nd. One investment analyst has rated the stock with a sell rating, five have given a hold rating and two have issued a buy rating to the company. Coupa Software has an average rating of Hold and a consensus target price of $28.56.

Shares of Coupa Software (NASDAQ:COUP) traded up 0.75% during midday trading on Friday, reaching $24.06. 123,897 shares of the company’s stock traded hands. Coupa Software has a 52-week low of $22.50 and a 52-week high of $41.61. The firm’s market cap is $1.20 billion. The company has a 50 day moving average of $25.88 and a 200 day moving average of $26.50.

Coupa Software (NASDAQ:COUP) last posted its quarterly earnings data on Monday, March 13th. The company reported ($0.05) EPS for the quarter, beating the Zacks’ consensus estimate of ($0.17) by $0.12. The firm earned $38.02 million during the quarter, compared to the consensus estimate of $35.87 million. The firm’s quarterly revenue was up 44.2% on a year-over-year basis. On average, equities analysts predict that Coupa Software will post ($0.54) EPS for the current fiscal year.

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A number of hedge funds and other institutional investors have recently modified their holdings of COUP. Norges Bank bought a new position in shares of Coupa Software during the fourth quarter valued at about $500,000. Metropolitan Life Insurance Co. NY bought a new position in shares of Coupa Software during the fourth quarter valued at about $260,000. Battery Partners VIII LLC bought a new position in shares of Coupa Software during the fourth quarter valued at about $171,799,000. Franklin Resources Inc. bought a new position in shares of Coupa Software during the fourth quarter valued at about $595,000. Finally, FMR LLC bought a new position in shares of Coupa Software during the fourth quarter valued at about $603,000. 0.96% of the stock is currently owned by institutional investors and hedge funds.

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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