Cantor Fitzgerald analyst Joseph Foresi maintained a Buy rating on Coupa Software Inc (COUP) today and set a price target of $92. The company’s shares opened today at $74.42.
Foresi noted:
“We maintain our Overweight rating on Coupa and PT$92. We recently traveled with management to some well-received meetings. The theme of our travels was the multiple opportunities to grow the business. We consider Coupa to be the Amazon of B2B, while trying to keep our expectations in check. The company has benefitted from the network effect and now has over 700 customers and $940 bn Spend under management, which has opened up multiple avenues of growth through areas like the systems integrators, payments, and community intelligence.”
According to TipRanks.com, Foresi is a top 100 analyst with an average return of 16.8% and a 71.9% success rate. Foresi covers the Technology sector, focusing on stocks such as Jack Henry & Associates, Fidelity National Info, and DXC Technology Company.
The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Coupa Software Inc with a $80.43 average price target.
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The company has a one-year high of $84.53 and a one-year low of $36.25. Currently, Coupa Software Inc has an average volume of 1.17M.
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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.
