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 $58. The company’s shares closed yesterday at $53.88, close to its 52-week high of $54.24.
Foresi commented:
“Business Spend Management is what Coupa has termed its space. In recent years we have seen the proliferation of Software-as-a-Services for a number of areas including HRM (Human Resources Management) and ERP (Enterprise Resource Planning). Coupa is pioneering a new space they have named BSM (Business Spend Management), which runs from source to supplier to procurement to pay functions, with the focus of cutting costs for companies across all areas of business spend. Their closest competitor in the space is Ariba from SAP (SAP, Not Covered), followed by Oracle (ORCL, NC), and then a few niche players.”
According to TipRanks.com, Foresi is a top 25 analyst with an average return of 17.5% and a 83.5% success rate. Foresi covers the Technology sector, focusing on stocks such as Jack Henry & Associates, Fidelity National Info, and Exlservice Holdings.
Coupa Software Inc has an analyst consensus of Strong Buy, with a price target consensus of $54.20.
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The company has a one-year high of $54.24 and a one-year low of $28.52. Currently, Coupa Software Inc has an average volume of 745.2K.
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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.
