Vetr Crowd Downgrades Coupa Following Offering

On Thursday, the Vetr crowd downgraded their rating for Coupa Software Inc COUP from 4.5 stars (Strong Buy), issued 30 days ago, to 3 stars (Hold). Crowd sentiment at the time of the downgrade was edging cautious with 57 percent of Vetr user rating bearish.

Shares in Coupa received a more than 14 percent bump this week to crest over the $29 mark after it was reported Tuesday the management software company was offering 4.4 million shares of stock at $25.25 per share.

Since the midweek jump, the stock has remained at that $29 resistance level.

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Currently, the Vetr crowd's average target price for Coupa is down at $28.55, which is also below the average analyst rating of $29.40. Less than 2 percent of Vetr users are holding COUP in their watch lists.