In a report released today, Joseph Foresi from Cantor Fitzgerald maintained a Buy rating on Coupa Software Inc (NASDAQ: COUP), with a price target of $92. The company’s shares closed yesterday at $72, close to its 52-week high of $72.36.
Foresi observed:
“: We maintain our Overweight rating on COUP and raise our 12-month PT to $92 from $67. We see strength in the company’s cloud-based spend management platform, its extensive network of suppliers, which builds on itself, and recurring revenues generated by its SaaS-based model. Quarterly results were above expectations, and FY19 guidance was raised. Cumulative spend under management was up 68% y/y. Coupa is growing revenues at a rapid pace and has visibility to profitability over the medium term, in our view. COUP shares are up 12% in after- market trading.”
According to TipRanks.com, Foresi is a top 25 analyst with an average return of 22.8% and a 88.2% success rate. Foresi covers the Technology sector, focusing on stocks such as Jack Henry & Associates, Fidelity National Info, and DXC Technology Company.
Currently, the analyst consensus on Coupa Software Inc is a Moderate Buy with an average price target of $74.60, which is a 3.6% upside from current levels. In a report issued on August 29, Oppenheimer also assigned a Buy rating to the stock with a $77 price target.
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Based on Coupa Software Inc’s latest earnings release for the quarter ending July 31, the company reported a quarterly GAAP net loss of $13.85 million. In comparison, last year the company had a GAAP net loss of $13.74 million.
Based on the recent corporate insider activity of 69 insiders, corporate insider sentiment is negative on the stock.
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Coupa Software, Inc. is cloud platform for business spend. It develops software solutions for sourcing; procurement and expense management that help companies control their spending. The company was founded by Noah Eisner and Dave Stephens in 2006 and is headquartered in San Mateo, CA.
