Coupa Software Inc COUP is among the best SMID (small and medium) capitalization SaaS (software as a service) franchises and has compelling long-term growth opportunities, according to Evercore ISI.
The Coupa Software Analyst: Peter Levine upgraded the rating for Coupa Software from In Line to Outperform, while raising the price target from $75 to $140.
The Coupa Software Thesis: Industry checks suggest that sales cycles are returning to the pre-COVID-19 pandemic levels and pipelines are at record highs, Levine said in the upgrade note.
“Given organizations rely heavily on procurement to help get visibility into forecasting the availability of products, pricing, and vendor diversification, we are now hearing the appetite/demand for COUP’s suite of spend management applications are stronger today vs. 2 years ago given all the supply chain disruptions,” the analyst wrote.
“Pay expectations have finally been reset; once the global supply chain normalizes, COUP should benefit from a tech upgrade cycle,” he added.
COUP Price Action: Shares of Coupa Software had risen by 0.20% to $102.48 at the time of publication Thursday.
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