KeyBanc analyst Josh Beck maintained a Buy rating on Coupa Software Inc (COUP) today and set a price target of $171. The company’s shares opened today at $144.96, close to its 52-week high of $148.
Beck commented:
“We are raising our price target to $171 from $136, factoring in this nascent but promising digital payment opportunity.”
According to TipRanks.com, Beck is a top 100 analyst with an average return of 28.4% and a 87.6% success rate. Beck covers the Technology sector, focusing on stocks such as Total System Services, Global Payments Inc, and Wix.com Ltd.
Currently, the analyst consensus on Coupa Software Inc is a Moderate Buy with an average price target of $130.73, implying a -9.8% downside from current levels. In a report issued on July 17, Oppenheimer also maintained a Buy rating on the stock with a $160 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 $20.47 million. In comparison, last year the company had a GAAP net loss of $15.45 million.
Based on the recent corporate insider activity of 108 insiders, corporate insider sentiment is negative on the stock.
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Coupa Software, Inc. engages in providing business spend management (BSM) solutions. It offers cloud-based BSM platform that delivers a broad range of capabilities that would typically require the purchase and use of multiple disparate point applications.
