Coupa Software (NASDAQ:COUP) had its target price raised by investment analysts at Cantor Fitzgerald from $67.00 to $92.00 in a research report issued on Wednesday, September 5th, The Fly reports. The brokerage presently has an “overweight” rating on the technology company’s stock. Cantor Fitzgerald’s target price points to a potential upside of 13.96% from the stock’s previous close.
Several other analysts have also weighed in on the stock. Morgan Stanley boosted their target price on shares of Coupa Software from $57.00 to $62.00 and gave the company an “equal weight” rating in a research note on Tuesday, September 4th. Oppenheimer upped their price target on shares of Coupa Software from $62.00 to $77.00 and gave the stock an “outperform” rating in a research report on Wednesday, August 29th. Barclays upped their price target on shares of Coupa Software from $53.00 to $58.00 and gave the stock an “equal weight” rating in a research report on Wednesday, August 15th. Zacks Investment Research upgraded shares of Coupa Software from a “hold” rating to a “buy” rating and set a $70.00 target price for the company in a research report on Monday, August 6th. Finally, Royal Bank of Canada increased their target price on shares of Coupa Software from $61.00 to $71.00 and gave the company an “outperform” rating in a research report on Wednesday, July 18th. Seven investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. The stock has an average rating of “Buy” and an average price target of $63.69.
COUP stock opened at $80.73 on Wednesday. Coupa Software has a 1-year low of $30.15 and a 1-year high of $84.53.
In other Coupa Software news, insider Anthony D. Tiscornia sold 781 shares of the stock in a transaction that occurred on Monday, August 13th. The stock was sold at an average price of $68.36, for a total transaction of $53,389.16. Following the transaction, the insider now owns 521 shares in the company, valued at $35,615.56. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, SVP Ravi Thakur sold 494 shares of the stock in a transaction that occurred on Thursday, June 21st. The shares were sold at an average price of $63.61, for a total value of $31,423.34. Following the completion of the sale, the senior vice president now directly owns 5,539 shares of the company’s stock, valued at $352,335.79. The disclosure for this sale can be found here. Insiders sold 331,881 shares of company stock worth $19,524,916 in the last 90 days. 6.50% of the stock is currently owned by corporate insiders.
Hedge funds have recently modified their holdings of the stock. SG Americas Securities LLC bought a new position in Coupa Software in the second quarter worth $153,000. GAM Holding AG bought a new position in Coupa Software in the second quarter worth $204,000. Quantitative Systematic Strategies LLC bought a new position in Coupa Software in the second quarter worth $211,000. StepStone Group LP bought a new position in Coupa Software in the first quarter worth $186,000. Finally, Great West Life Assurance Co. Can lifted its holdings in shares of Coupa Software by 50.5% during the second quarter. Great West Life Assurance Co. Can now owns 4,064 shares of the technology company’s stock valued at $253,000 after acquiring an additional 1,364 shares during the period. 99.60% of the stock is owned by hedge funds and other institutional investors.
Coupa Software Company Profile
Coupa Software Incorporated provides cloud-based spend management platform. The company's platform connects organization with suppliers globally; and provides visibility into and control over how companies spend money, as well as enables businesses to achieve savings that drive profitability. Its platform consists of procurement, invoicing, and expense management modules that form its transactional engine and capture a company's spend; and offers supporting modules, including sourcing, spend analysis, contract management, supplier management, and inventory management.
Further Reading: Stock Symbols and CUSIP Explained
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