Oppenheimer analyst Koji Ikeda maintained a Buy rating on Coupa Software Inc (NASDAQ: COUP) today and set a price target of $77. The company’s shares closed yesterday at $70.20, close to its 52-week high of $72.03.
Ikeda wrote:
“We expect solid F2Q results from Coupa driven by a strengthening industry backdrop that should support a higher price target. We recently met with Coupa’s CFO Todd Ford, and come away incrementally more confident in the company’s positioning, differentiation, value proposition, and good growth opportunities for its spend management platform. The business should enter 2H:FY2019 with healthy momentum, and deepening partnerships with SIs that could act as a catalyst going forward for winning new logos. Bottom line: We believe Coupa is successfully disrupting and taking share of the spend management category. Furthermore, we see potential catalysts ahead (payments, government) that increase our confidence in the name displaying an above SaaS industry growth profile for the foreseeable future. Reiterate Outperform, raise PT to $77 (from $62).”
According to TipRanks.com, Ikeda is a 5-star analyst with an average return of 46.1% and a 96.6% success rate. Ikeda covers the Technology sector, focusing on stocks such as SPS Commerce, Liveperson, and Autodesk.
Currently, the analyst consensus on Coupa Software Inc is a Moderate Buy with an average price target of $64.75.
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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 $13.74 million.
Based on the recent corporate insider activity of 69 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.
