Oppenheimer initiated coverage on shares of Coupa Software (NASDAQ:COUP) in a research note issued to investors on Thursday morning, Marketbeat Ratings reports. The firm issued a buy rating and a $41.00 price target on the technology company’s stock.

COUP has been the subject of a number of other research reports. ValuEngine upgraded Coupa Software from a sell rating to a hold rating in a report on Wednesday, October 18th. Barclays reiterated a hold rating and set a $38.00 target price (up previously from $34.00) on shares of Coupa Software in a report on Monday, November 27th. Zacks Investment Research upgraded Coupa Software from a sell rating to a hold rating in a report on Tuesday, November 7th. Cantor Fitzgerald reiterated a buy rating and set a $38.00 target price on shares of Coupa Software in a report on Monday, December 11th. Finally, Raymond James Financial reiterated a buy rating and set a $40.00 target price on shares of Coupa Software in a report on Tuesday, December 12th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and nine have issued a buy rating to the company’s stock. The company currently has a consensus rating of Buy and an average target price of $36.53.

Shares of Coupa Software (COUP) traded down $0.18 during trading on Thursday, hitting $31.87. 253,578 shares of the company’s stock traded hands, compared to its average volume of 444,353. The company has a market cap of $1,740.00 and a PE ratio of -31.87. Coupa Software has a 52 week low of $22.50 and a 52 week high of $37.72.

Coupa Software (NASDAQ:COUP) last issued its earnings results on Monday, December 4th. The technology company reported ($0.05) EPS for the quarter, beating the consensus estimate of ($0.11) by $0.06. Coupa Software had a negative net margin of 24.37% and a negative return on equity of 20.40%. The company had revenue of $47.30 million during the quarter, compared to analysts’ expectations of $45.02 million. During the same quarter in the previous year, the company posted ($0.22) EPS. The business’s revenue for the quarter was up 33.6% compared to the same quarter last year. research analysts forecast that Coupa Software will post -0.94 earnings per share for the current year.

In related news, insider Ravi Thakur sold 11,240 shares of the firm’s stock in a transaction dated Monday, October 2nd. The shares were sold at an average price of $31.35, for a total value of $352,374.00. Following the completion of the sale, the insider now directly owns 35,916 shares in the company, valued at approximately $1,125,966.60. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Robert Bernshteyn sold 1,849 shares of the firm’s stock in a transaction dated Thursday, December 21st. The shares were sold at an average price of $32.32, for a total transaction of $59,759.68. Following the completion of the sale, the chief executive officer now owns 135,868 shares of the company’s stock, valued at $4,391,253.76. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 521,281 shares of company stock valued at $17,336,977. Company insiders own 32.10% of the company’s stock.

Large investors have recently modified their holdings of the stock. Vanguard Group Inc. raised its holdings in Coupa Software by 260.3% in the 2nd quarter. Vanguard Group Inc. now owns 2,700,303 shares of the technology company’s stock valued at $78,254,000 after acquiring an additional 1,950,862 shares during the period. Sylebra HK Co Ltd boosted its position in Coupa Software by 79.9% in the third 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. Capital World Investors boosted its position in Coupa Software by 39.2% in the second quarter. Capital World Investors now owns 1,837,112 shares of the technology company’s stock valued at $53,240,000 after buying an additional 517,000 shares in the last quarter. Soma Equity Partners LP boosted its position in Coupa Software by 60.0% in the third quarter. Soma Equity Partners LP now owns 1,120,000 shares of the technology company’s stock valued at $34,888,000 after buying an additional 420,000 shares in the last quarter. Finally, Federated Investors Inc. PA boosted its position in Coupa Software by 110.5% in the second quarter. Federated Investors Inc. PA now owns 1,073,100 shares of the technology company’s stock valued at $31,098,000 after buying an additional 563,200 shares in the last quarter. Institutional investors and hedge funds own 74.67% of the company’s stock.

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About Coupa Software

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.

Analyst Recommendations for Coupa Software (NASDAQ:COUP)

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