In a report released today, Joseph Foresi from Cantor Fitzgerald maintained a Buy rating on Coupa Software Inc (COUP), with a price target of $92. The company’s shares closed on Friday at $64.99.
Foresi said:
“Our Overweight rating is based on the strength of the company’s cloud-based platform and its significant and growing network of suppliers, which builds on itself. We believe the high multiple is justified due to the company’s rapid revenue growth and visible path to profitability. We believe estimates tend to be conservative and there is the potential for upward revisions driving multiples and PT. Valuation Summary Our price target of $92 is based on 19x our CY19 EV/Revenue estimate.”
According to TipRanks.com, Foresi is a top 100 analyst with an average return of 16.0% and a 69.3% success rate. Foresi covers the Technology sector, focusing on stocks such as Jack Henry & Associates, Fidelity National Info, and DXC Technology Company.
Coupa Software Inc has an analyst consensus of Moderate Buy, with a price target consensus of $80.43.
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Based on Coupa Software Inc’s latest earnings release for the quarter ending October 31, the company reported a quarterly GAAP net loss of $9.65 million. In comparison, last year the company had a GAAP net loss of $11.3 million.
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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.
