Coupa Software Inc Gets a Buy Rating from Cantor Fitzgerald

Cantor Fitzgerald analyst Joseph Foresi maintained a Buy rating on Coupa Software Inc (NASDAQ: COUP) today and set a price target of $67. The company’s shares closed yesterday at $55.33, close to its 52-week high of $55.48.

Foresi said:

“: We maintain our Overweight rating on COUP and raise our PT to $67 from $58. 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 was up over 75% y/y. Coupa is growing revenues at a rapid pace and has visibility to profitability over the medium term, in our view. COUP shares are up 1% in after- market trading.”

According to TipRanks.com, Foresi is a top 25 analyst with an average return of 18.8% and a 85.9% success rate. Foresi covers the Technology sector, focusing on stocks such as Jack Henry & Associates, Fidelity National Info, and DXC Technology Company.

Currently, the analyst consensus on Coupa Software Inc is Moderate Buy and the average price target is $55.80, representing a 0.8% upside.

In a report issued on May 31, Oppenheimer also assigned a Buy rating to the stock with a $62 price target.

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Based on Coupa Software Inc’s latest earnings release for the quarter ending April 30, the company reported a quarterly GAAP net loss of $15.45 million. In comparison, last year the company had a GAAP net loss of $10.04 million.

Based on the recent corporate insider activity of 46 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.