KeyBanc maintained its Coupa Software [COUP] rating to the equivalent of Overweight but changed the price target to $400 from $365, in a research note dated 2021-01-06. That figure represents around a 20.02% premium from where the company’s shares closed on Tuesday. Some new analysts also started their coverage, with Deutsche Bank’s analysts assigning the shares to “a Buy” rating in a research note to investors issued in early October. In addition, there was no change from Needham on September 09, 2020. The rater maintained COUP to “a Buy” but assigned new target price of $300.
Is Coupa Software Incorporated [NASDAQ:COUP] a Good Buy Right Now?
It should be noted that COUP technical indicators for short, intermediate as well as long term progress have placed an overall average of 88% as Buy. The average signal changed from 100% Buy in the last week and compares with 100% Buy in the past month. Data from Coupa Software Incorporated’s Trend Spotter indicated that the signals were Weakest. The stock current average is 1.5 million shares in the past 20 days and the short term average signal indicates a 50% Buy. In the last 50 days, the average trading volume was 1.24 million shares while the medium term average advocated for 100% Buy. The average long-term signal stands at 100% Buy and the 100-day average volume stands at 1.25 million shares.
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COUP Price Performance
On Wall Street, Coupa Software Incorporated [NASDAQ:COUP] finished Tuesday’s session down -0.79% at $333.28. The stock went up to $340.00 at the same session while its lowest single day price was $330.415. In the last five days, it saw a fall of about -2.86%, Coupa Software Incorporated shares dropped by almost -1.66% since the beginning of the year. However, the share price has dropped to as low as -9.71% below its one year high. On 01/04/21, the company shares recorded $342.63, the highest single-day price it has got to in the last 52-weeks and a 52-week low was seen on 01/04/21, the same year at $326.01. The company’s shares have inclined by 102.28% in the past year. The 50-day SMA achieved is $313.96 while the 200-day SMA is $264.00. Volume dropped to 0.9 million from 1.31 million in the previous session.
COUP Stock Support And Resistance Levels
On the 24-hour scale, the immediate backing is perceived around 329.13 level, and in case of violation of this particular level, it will cause more drop to 324.98 level. On the upper level, 344.15 is still the key resistance. The stock may increase to the subsequent resistance at 338.71. The Relative Strength Index (RSI) pinned on the 14-day chart is 50.60, implying a neutral technical stance while the MACD stands at -9.50, meaning price will decrease in the next trading period. Percent R indicator moved to 62.32%, implying low price movement. Stochastic %K at 42.59% suggest selling the stock.
What is the short interest in Coupa Software Incorporated?
Short interest in the Coupa Software Incorporated stock has surged, increasing by 1.06 million shares to total 6.59 million shares on Dec 14, 2020. The interest had seen shares on Nov 12, 2020 stand at 7.65 million, data from Yahoo Finance shows. The decrease of -16.08% suggests the stock saw some decreased bullish sentiment. The stock’s days to cover (short ratio) moved to while the shorted shares account for just 10.19% of the overall float for the stock.
Coupa Software Incorporated’s Biggest Shareholders: Who Owns Coupa Software Incorporated [COUP]?
Filings by Morgan Stanley Investment Managem showed that the firm now holds a total of 7,186,705 shares or roughly 10.44% of the outstanding COUP shares. This means their shares have reduced by -757,708 from the 7,186,705 the investor reportedly held in its prior 13-F filing. With the conclusion of the sale, The Vanguard Group, Inc. updated stake is worth $1,942,518,778. Details in the latest 13F filings reveal that T. Rowe Price Associates, Inc. acquired their 46.45% stake valued at $1,811,298,489 while Lone Pine Capital LLC added theirs at $1,423,939,867. During the last quarter, T. Rowe Price Associates, Inc. raised 1,746,661 of its shares in Coupa Software Incorporated while Lone Pine Capital LLC bought 2,204,929 shares. The Jennison Associates LLC’s holdings currently number 4,312,534 shares at $1437281331.52. According to the firm’s last 13F report, Fidelity Management & Research Co shares in the company at filing stood at 3,416,885 shares, roughly $1,123,847,645.
COUP Earnings Forecast For The Current Quarter
Coupa Software Incorporated [COUP] is expected to report weak earnings results for the quarter ending on Jan 2021. Consensus estimates give the company expected revenues of $145.66M and an earnings per share of -$0.11 for Jan 2021. Looking further ahead, the company is expected to report revenue of $148.73M at an EPS of $0 for Apr 2021. The estimates represent upside of 26.90% and -16.42% in the company’s revenue and earnings per share, respectively, on a year-on-year basis.
COUP Earnings Estimates For The Current Year
For the financial year, Coupa Software Incorporated [NASDAQ:COUP] is expected to bring in revenue of $523.82M. The returns are nearly $134.1 million higher than the company’s actual revenue recorded in the fiscal year 2020. In terms of EPS for the 2021, estimate put it at 0.47, lower than that of FY20 by -$0.05. Estimates put this year’s earnings growth at -9.60%, -14.90% for the next, and at an annual 24.90% over the next 5-year period. As for sales, forecasts are for an increase of 34.40% in the current fiscal year and a further 26.90% over the following year.