132.35 -0.52 (-0.39%)
After hours: 5:14PM EST
|Bid||131.20 x 1300|
|Ask||132.85 x 1200|
|Day's Range||129.02 - 133.36|
|52 Week Range||52.01 - 159.97|
|Beta (3Y Monthly)||1.56|
|PE Ratio (TTM)||N/A|
|Earnings Date||Dec. 2, 2019|
|Forward Dividend & Yield||N/A (N/A)|
|1y Target Est||160.79|
Coupa Software gapped higher after reporting a surprise profit, defying views for a loss. Sales growth accelerated to 54%, the best in 11 quarters. Coupa spiked as high as 155.45, but pared gains. The buy point is 149. That's just above a brief breakout attempt on Aug. 27.STOCK MARKET TODAY is sponsored by Interactive Brokers. To open an account, go to ibkr.com/whyib
Rob Bernshteyn became the CEO of Coupa Software Incorporated (NASDAQ:COUP) in 2009. First, this article will compare...
(Bloomberg) -- An ugly two months for software stocks is getting worse, and bullish investors are looking to earnings reports this week from ServiceNow Inc. and Microsoft Corp. to stem the tide.Zoom Video Communications Inc. and ServiceNow fell more than 5% on Tuesday, each extending losing streaks to a fifth consecutive day. The group has been under renewed pressure since last week, despite an earnings report from Atlassian Corp. that was praised by analysts. Both ServiceNow and Microsoft are due to report Wednesday afternoon.“We all know there’s some frothiness in some of these specialty software as a service companies,” said Jason Benowitz, a senior portfolio manager with Roosevelt Investment Group. “I’m interested in how the market will react when Microsoft reports, because I think everyone is expecting results to be strong.”Software valuations have come under the microscope amid concerns about whether their break-neck growth is sustainable in a slowing economy and a renewed focus on profitability in the wake of WeWork’s initial public offering stumble. A Goldman Sachs basket of expensive software stocks has fallen 28% from a July peak, with nearly all of that decline coming since the start of September.Other big decliners on Tuesday included Slack Technologies Inc. and Alteryx Inc., which both fell more than 7%, while Coupa Software Inc.has lost 24% since the beginning of last week.To contact the reporter on this story: Jeran Wittenstein in San Francisco at email@example.comTo contact the editors responsible for this story: Catherine Larkin at firstname.lastname@example.org, Courtney DentchFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.
(Bloomberg) -- Software companies fell on Friday, extending recent losses after results from Atlassian Corp. topped analyst forecasts yet failed to provide enough upside to assuage concerns over the group’s valuation.Atlassian shares dropped as much as 11% to their lowest level since May. The stock was on track for its third straight decline, as was Veeva Systems Inc., off 5.4%, and ServiceNow Inc., down 3.8%, which reports its own results next week. Coupa Software Inc. sank 8.4% in its fourth straight drop, a period over which it has shed more than 20% of its valuation. Twilio Inc. was down 4.5%. Alteryx Inc. was down 7.2% and Crowdstrike Holdings Inc. dropped 7.3%, heading for the eighth decline in the past nine sessions.A basket of high-multiple software stocks tracked by Goldman Sachs fell 5.7% in its fifth straight decline, hitting its lowest since March, while the Russell Midcap Technology Growth Index was down 2.2%.“When investors have lost conviction, it usually means the best strategy is to stay conservative until the coast is at least somewhat clear,” wrote Richard Davis, an analyst at Canaccord Genuity. “We are in that time in the cycle.”Davis has a buy rating on Atlassian, writing that it “fits the description of a safe harbor company.” However, he said the stock has a “high-ish valuation” and suggested that multiples could be hard to justify. “In this macro environment,” he wrote, “if anyone expected an over-sized guide up, they haven’t been paying attention.”Recent weakness in the sector included both Workday Inc. and Zoom Video Communications Inc. tumbling in the wake of their respective investor events, which underlined growth concerns.Atlassian’s results included a raised full-year revenue forecast, and Cowen wrote that this could ease broader concerns over the sector.This “was one of the more anticipated prints in software as a result of emerging macro concerns in the space and it being one of the first to report,” analyst J. Derrick Wood wrote. The “solid numbers & outlook, along with constructive commentary on stable demand conditions, should give investors greater comfort in the potential for stability in software spending.”To contact the reporter on this story: Ryan Vlastelica in New York at email@example.comTo contact the editors responsible for this story: Catherine Larkin at firstname.lastname@example.org, Jim SilverFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.
COUPA SOFTWARE (COUP) has been upgraded to a Zacks Rank 1 (Strong Buy), reflecting growing optimism about the company's earnings prospects. This might drive the stock higher in the near term.
Today, the third-quarter Coupa Business Spend Index was released. It’s a relatively new economic indicator that offers insights into corporate spending.