Oppenheimer analyst Koji Ikeda maintained a Buy rating on Coupa Software Inc (NASDAQ: COUP) today and set a price target of $62. The company’s shares closed yesterday at $55.33, close to its 52-week high of $55.48.
Ikeda commented:
“Consistent with our preview, Coupa reported solid F1Q results and raised guidance. Business momentum remains strong with bullish management commentary on the enterprise and mid-market spend management replatforming opportunities, plus the annual revenue target was raised beyond the F1Q outperformance. On balance, new spend under management grew 13% y/y, lagging revenue for the first time since IPO; however, this was mostly attributable to seasonality. Bottom line: Coupa’s F1Q results displayed another quarter of improving business fundamentals, and we are impressed with the FCF margin expansion trends, which lend support to our view that Coupa’s business momentum with expanding margins profile is unique when compared to other public software vendors at a similar point in its respective lifecycles. Reiterate Outperform.”
According to TipRanks.com, Ikeda is a 5-star analyst with an average return of 38.4% and a 95.2% 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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The company has a one-year high of $55.48 and a one-year low of $28.52. Currently, Coupa Software Inc has an average volume of 714.7K.
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.
