Cantor Fitzgerald Believes Coupa Software Inc (NASDAQ: COUP) Still Has Room to Grow

By Jason Carr

In a report released today, Joseph Foresi from Cantor Fitzgerald maintained a Buy rating on Coupa Software Inc (NASDAQ: COUP), with a price target of $58. The company’s shares closed yesterday at $49.18, close to its 52-week high of $49.61.

Foresi wrote:

“Foresi’s Take. Cumulative spend under management, which Coupa defines as the money managed by companies through the process they use to purchase goods or services (Spend Management), grew to over $680 bn from $570 bn in 3QFY18 and $365 bn in the year-earlier period. Billings grew by a solid 40% y/ y for FY18. Revenue growth reaccelerated in the period and adjusted operating margins improved on an annual basis.”

According to, Foresi is a top 25 analyst with an average return of 19.6% and a 88.1% success rate. Foresi covers the Technology sector, focusing on stocks such as Automatic Data Processing, Jack Henry & Associates, and Fidelity National Info.

Currently, the analyst consensus on Coupa Software Inc is Strong Buy and the average price target is $49.43, representing a 0.5% upside.

In a report issued on March 5, Barclays also reiterated a Buy rating on the stock with a $47 price target.

The company has a one-year high of $49.61 and a one-year low of $22.50. Currently, Coupa Software Inc has an average volume of 672K.

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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.