Oppenheimer Believes Coupa Software Inc (COUP) Still Has Room to Grow


Oppenheimer analyst Koji Ikeda assigned a Buy rating to Coupa Software Inc (NASDAQ: COUP) today and set a price target of $62. The company’s shares closed yesterday at $52.87, close to its 52-week high of $55.10.

Ikeda commented:

“We expect good business performance from Coupa in its F1Q:2018, and results should support a higher price target. The overall tone from our recent checks on Coupa’s business was positive, which supports our thesis that the business is well- positioned to disrupt and take share of a large spend management category. Positive 1Q results from most software vendors suggest the backdrop for software spend has strengthened in CY2018 thus far, which is a positive for Coupa’s booking trends. Bottom line: We would stay the course with COUP, since the story is working. We believe the growth drivers are healthy, and the setup is good for the business to continue its record of consistently good execution in future quarterly reported results. Reiterate Outperform; raise PT to $62 from $55.”

According to TipRanks.com, Ikeda is a 4-star analyst with an average return of 34.9% and a 85.0% success rate. Ikeda covers the Technology sector, focusing on stocks such as Liveperson, Autodesk, and HubSpot.

Coupa Software Inc has an analyst consensus of Moderate Buy, with a price target consensus of $54.90.

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Based on Coupa Software Inc’s latest earnings release for the quarter ending January 31, the company reported a quarterly GAAP net loss of $8.72 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.

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