Oppenheimer analyst Koji Ikeda maintained a Buy rating on Coupa Software Inc (COUP) today and set a price target of $100. The company’s shares closed yesterday at $93.57, close to its 52-week high of $99.64.
Ikeda noted:
“Coupa reported solid F4Q results and initiated FY2020 revenue guidance above consensus. Highlights include: 1) strong sales performance with 40%+ growth trends across: billings, subscription billings, deferred revenue, and subscription revenue; 2) eclipsing $1T in spend under management; and 3) an expanding partner network. On balance, while the initial FY2020 growth guidance is above consensus, it does imply a slowing growth trend, although this target may prove conservative given the strong sales performance in F4Q. Bottom line: We believe the strong business momentum Coupa is currently experiencing will likely continue in FY2020. We anticipate management will provide further visibility into the model, potential catalysts, and the payments opportunity at its investor day tomorrow. Reiterate Outperform, Raise PT to $100 (from $85).”
According to TipRanks.com, Ikeda is a 5-star analyst with an average return of 37.9% and a 95.7% success rate. Ikeda covers the Technology sector, focusing on stocks such as BlackLine Inc, SPS Commerce, and Liveperson.
Coupa Software Inc has an analyst consensus of Moderate Buy, with a price target consensus of $89.83, a -4.0% downside from current levels. In a report issued on March 8, RBC Capital also maintained a Buy rating on the stock with a $104 price target.
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The company has a one-year high of $99.64 and a one-year low of $43.89. Currently, Coupa Software Inc has an average volume of 1.29M.
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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.
