Coupa Software Incorporated (NASDAQ:COUP) Expected to Post First Quarter 2023 Earnings of ($0.58) Per Share
Coupa Software Incorporated (NASDAQ:COUP – Get Rating) – Investment analysts Truist Financial raised their first-quarter 2023 earnings per share (EPS) estimates for Coupa Software in a report released Tuesday, March 15. Truist Financial analyst T. Tillman now expects the technology company to post earnings per share of ($0.58) for the quarter, up from its previous forecast of ($0.75). Truist Financial has a “Buy” rating and a price target of $85.00 on the stock. Truist Financial also released estimates for Coupa Software Q2 2023 earnings at ($0.58) EPS, Q3 2023 earnings at ($0.62) EPS, Q4 2023 earnings at ($0.54) ) EPS, FY2023 earnings at ($2.33) EPS and FY2024 earnings at ($1.94) EPS.
A number of other research analysts have also recently commented on the HIT. KeyCorp cut its price target on Coupa Software from $175.00 to $125.00 and set an “overweight” rating for the company in a report released Tuesday. Morgan Stanley cut its price target on Coupa Software from $330.00 to $160.00 and set an “overweight” rating on the stock in a Thursday, Feb. 24 research note. BMO Capital Markets began covering Coupa Software in a research note on Tuesday, February 1. They set a “market performance” rating and a price target of $135.00 on the stock. Bank of America cut its price target on Coupa Software from $310.00 to $280.00 and set a “buy” rating on the stock in a Tuesday, November 30 research note. Finally, Wells Fargo & Company cut its price target on Coupa Software from $190.00 to $80.00 and set an “equal weight” rating on the stock in a research note Tuesday. One research analyst rated the stock with a sell rating, thirteen gave the stock a hold rating, and eleven gave the stock a buy rating. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $149.95.
Shares of COUP opened at $81.91 on Friday. The company has a market capitalization of $6.12 billion, a P/E ratio of -15.94 and a beta of 1.46. Coupa Software has a one-year minimum of $64.79 and a one-year maximum of $283.38. The company has a debt ratio of 1.02, a quick ratio of 0.82 and a current ratio of 0.82. The stock has a 50-day moving average price of $122.64 and a 200-day moving average price of $181.70. Coupa Software (NASDAQ:COUP – Get Rating) last released its quarterly results on Monday, March 14. The tech company reported EPS of $0.19 for the quarter, beating consensus analyst estimates of $0.05 by $0.14. The company posted revenue of $193.30 million in the quarter, versus a consensus estimate of $186.18 million. Coupa Software had a negative return on equity of 13.88% and a negative net margin of 52.26%. Coupa Software revenue for the quarter increased 18.2% year over year. In the same quarter a year earlier, the company posted ($0.82) earnings per share.
Hedge funds and other institutional investors have recently changed their stakes in the company. Forsta AP Fonden increased its stake in Coupa Software by 15.0% during the 3rd quarter. Forsta AP Fonden now owns 16,100 shares of the technology company valued at $3,529,000 after buying 2,100 more shares last quarter. Ensign Peak Advisors Inc increased its stake in Coupa Software by 4.4% during the third quarter. Ensign Peak Advisors Inc now owns 21,004 shares of the technology company valued at $4,604,000 after buying 889 additional shares last quarter. Stanley Laman Group Ltd. bought a new position in Coupa Software during Q3 worth $624,000. Bristlecone Advisors LLC bought a new position in Coupa Software during the 4th quarter at a value of $369,000. Finally, Cubist Systematic Strategies LLC increased its stake in Coupa Software by 61.7% in the third quarter. Cubist Systematic Strategies LLC now owns 50,570 shares of the technology company valued at $11,084,000 after buying 19,296 additional shares last quarter.
Separately, insider Mark Riggs sold 1,296 shares of the company in a trade that took place on Monday, December 27. The stock was sold at an average price of $159.50, for a total value of $206,712.00. The transaction was disclosed in a legal filing with the SEC, which is available via this link. Additionally, CAO Maurizio Baratta sold 898 shares of the company in a trade that took place on Tuesday, December 21. The shares were sold at an average price of $156.14, for a total value of $140,213.72. The disclosure of this sale can be found here. In the past 90 days, insiders have sold 16,201 shares of the company worth $2,534,656. 2.60% of the shares are held by insiders.
Coupa Software Company Profile (Get a rating)
Coupa Software, Inc is committed to providing business spend management (BSM) solutions. Its products include invoicing, expenses, payroll, spend analysis, strategic sourcing, contingent labor contract management and vendor management. The company was founded by Noah Eisner and Dave Stephens in 2006 and is based in San Mateo, California.
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