Coupa Software (COUP) Receives a Buy from Needham

Needham analyst Ryan MacDonald assigned a Buy rating to Coupa Software (COUPResearch Report) today and set a price target of $385.00. The company’s shares closed last Wednesday at $354.75, close to its 52-week high of $369.12.

According to TipRanks.com, MacDonald is a top 100 analyst with an average return of 46.6% and a 84.5% success rate. MacDonald covers the Technology sector, focusing on stocks such as ChannelAdvisor, Verint Systems, and Veeva Systems.

Currently, the analyst consensus on Coupa Software is a Moderate Buy with an average price target of $356.29, representing a 1.8% upside. In a report issued on January 6, KeyBanc also maintained a Buy rating on the stock with a $400.00 price target.

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The company has a one-year high of $369.12 and a one-year low of $99.01. Currently, Coupa Software has an average volume of 1.2M.

Based on the recent corporate insider activity of 92 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of COUP in relation to earlier this year.

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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. Its platform consists of procurement, invoicing, expense management and payments modules that form the transactional engine for managing a company’s business spend. The company was founded by Noah Eisner and Dave Stephens in 2006 and is headquartered in San Mateo, CA.