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Coupa Software Inc (COUP) Received its Third Buy in a Row


After RBC Capital and Loop Capital Markets gave Coupa Software Inc (NASDAQ: COUP) a Buy rating last month, the company received another Buy, this time from Cantor Fitzgerald. Analyst Joseph Foresi maintained a Buy rating on Coupa Software Inc today and set a price target of $92. The company’s shares closed yesterday at $68.80.

Foresi observed:

“: We maintain our Overweight rating on COUP and our 12-month PT of $92. 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 has risen by 38% y/y since FY18 and is expected to hit $1trn next quarter. Coupa is growing revenues at a rapid pace and has visibility to profitability over the medium term, in our view. COUP shares are down 2% in after-market trading.”

According to TipRanks.com, Foresi is a top 25 analyst with an average return of 17.2% and a 76.3% 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 $80.60, which is a 17.2% upside from current levels. In a report issued on November 27, RBC Capital also maintained a Buy rating on the stock with a $83 price target.

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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.

Based on the recent corporate insider activity of 88 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.

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