Wells Fargo & Company Cuts Coupa Software (NASDAQ:COUP) Price Target to $255.00

Coupa Software (NASDAQ:COUP) had its price objective decreased by Wells Fargo & Company from $305.00 to $255.00 in a report released on Tuesday, Price Targets.com reports. Wells Fargo & Company currently has an equal weight rating on the technology company’s stock.

Several other research firms have also weighed in on COUP. Zacks Investment Research upgraded shares of Coupa Software from a sell rating to a hold rating and set a $369.00 price objective on the stock in a research note on Monday, February 8th. KeyCorp lowered their price objective on shares of Coupa Software from $400.00 to $350.00 and set an overweight rating on the stock in a research note on Tuesday. The Goldman Sachs Group upgraded shares of Coupa Software from a buy rating to a conviction-buy rating in a research note on Monday, March 8th. Wolfe Research started coverage on shares of Coupa Software in a research note on Thursday, April 22nd. They set an outperform rating and a $310.00 price objective on the stock. Finally, JPMorgan Chase & Co. boosted their price objective on shares of Coupa Software from $121.00 to $125.00 and gave the stock an underweight rating in a research note on Wednesday, March 17th. They noted that the move was a valuation call. One analyst has rated the stock with a sell rating, eight have assigned a hold rating, fourteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. The stock presently has an average rating of Buy and a consensus target price of $305.21.

Shares of COUP stock opened at $223.47 on Tuesday. The company has a quick ratio of 0.80, a current ratio of 0.80 and a debt-to-equity ratio of 0.86. Coupa Software has a 1 year low of $214.14 and a 1 year high of $377.04. The company has a fifty day simple moving average of $247.62. The firm has a market cap of $16.40 billion, a price-to-earnings ratio of -85.95 and a beta of 1.45.

Coupa Software (NASDAQ:COUP) last issued its quarterly earnings results on Sunday, June 6th. The technology company reported $0.07 earnings per share (EPS) for the quarter, beating the consensus estimate of ($1.01) by $1.08. Coupa Software had a negative net margin of 45.08% and a negative return on equity of 22.19%. Equities analysts expect that Coupa Software will post -3.71 earnings per share for the current fiscal year.

In other Coupa Software news, CEO Robert Bernshteyn sold 50,000 shares of the company’s stock in a transaction that occurred on Wednesday, March 17th. The shares were sold at an average price of $254.29, for a total value of $12,714,500.00. Following the completion of the transaction, the chief executive officer now directly owns 254,862 shares in the company, valued at approximately $64,808,857.98. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Veenendaal Frank Van sold 2,800 shares of the company’s stock in a transaction that occurred on Monday, March 15th. The shares were sold at an average price of $277.98, for a total transaction of $778,344.00. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 176,520 shares of company stock valued at $43,984,671. Corporate insiders own 2.60% of the company’s stock.

Hedge funds and other institutional investors have recently made changes to their positions in the business. US Bancorp DE increased its position in Coupa Software by 62.2% in the 4th quarter. US Bancorp DE now owns 9,181 shares of the technology company’s stock valued at $3,111,000 after acquiring an additional 3,522 shares during the period. Pelham Capital Ltd. boosted its stake in shares of Coupa Software by 22.7% in the 1st quarter. Pelham Capital Ltd. now owns 232,914 shares of the technology company’s stock valued at $59,272,000 after purchasing an additional 43,082 shares during the last quarter. Amundi Pioneer Asset Management Inc. boosted its stake in shares of Coupa Software by 396.9% in the 4th quarter. Amundi Pioneer Asset Management Inc. now owns 160,316 shares of the technology company’s stock valued at $54,334,000 after purchasing an additional 128,052 shares during the last quarter. Federated Hermes Inc. boosted its stake in shares of Coupa Software by 23.0% in the 4th quarter. Federated Hermes Inc. now owns 293,639 shares of the technology company’s stock valued at $99,517,000 after purchasing an additional 54,815 shares during the last quarter. Finally, Korea Investment CORP boosted its stake in shares of Coupa Software by 6.1% in the 4th quarter. Korea Investment CORP now owns 219,667 shares of the technology company’s stock valued at $74,447,000 after purchasing an additional 12,567 shares during the last quarter.

About Coupa Software

Coupa Software Incorporated provides cloud-based business spend management platform. Its platform connects organizations with suppliers globally; and provides visibility into and control over how companies spend money, optimize supply chains, and manage liquidity, as well as enables businesses to achieve savings that drive profitability.

Featured Article: Trading Options- What is a Strangle?

Analyst Recommendations for Coupa Software (NASDAQ:COUP)

Receive News & Ratings for Coupa Software Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Coupa Software and related companies with MarketBeat.com's FREE daily email newsletter.