Coupa Software Incorporated (NASDAQ: COUP)
On Tuesday September 4th, 2018, Coupa software Incorporated reported their fiscal second quarterly earnings after the market closed for trading.
And has been the case with some of the it’s peer stocks, Coupa Software’s earnings not only surprised, but beat all analyst’s expectations. T
he group is hot and their earnings show it. The company reported after all adjustments were factored in, a profit of $0.05 a share – analysts had been expecting a loss of $0.05 a share.
The company had net income of 3.3 million dollars which compares with a loss of 5.4 million dollars in the same period one year ago.
Shares closed the regular trading session at $72 which was up $0.29 on the day. However as of 7:59 Eastern Daylight Time, shares soared an additional 16.6% or up $11.95 closing at $83.95.
Coupa reported earning $.05l per share versus losing an .$05in the same period one year ago. Total revenues were $61.7 million, an increase of 38% compared to the same period last year.
The above price chart shows Coupa going back almost a year on the charts. It is in a clear up trend, respecting all short-term and long-term moving averages. The shares are likely to open in the green rectangle area on the far upper right.
The above price chart shows Coupa software in the regular trading session on the left and the after-hours session on the right.
The stock went sideways with little price movement during the regular session, however; it is easy to see just when the earnings announcement came out and shares vaulted higher.
Rob Bernshteyn, CEO of Coupa had this to say about the earnings beat:
“Our commitment to developing a fast growing and vibrant customer community and our strong alignment around our three core values – ensuring customer success, focusing on results, and striving for excellence – continue to support our ability to deliver on our business and financial objectives. Our Q2 results demonstrate our continued strong execution and the rapid and systematic implementation of our value-as-a-service solutions; further expanding our leadership position in business spend management globally.”
He also added this about the acquisition:
“Effective visibility and control of contingent labor spend continues to be a growing priority for best-in-class organizations. When effectively managed, it delivers a material impact to the bottom line. Building upon Coupa’s Services Maestro simple requisitioning, procurement, and tracking of SOW-based services offering, DCR Workforce will provide an advanced solution for the full lifecycle of the sourcing and management of contingent workers at scale.I am excited to welcome co-founders Ammu Warrier and Naveen Dua and their team to Coupa and look forward to delivering on our shared vision.”
Coupa Software Incorporated provides cloud-based spend management platform. The company’s platform connects organization with suppliers globally; and provides visibility into and control over how companies spend money, as well as enables businesses to achieve savings that drive profitability.
Its platform consists of procurement, invoicing, and expense management modules that form its transactional engine and capture a company’s spend; and offers supporting modules, including sourcing, spend analysis, contract management, supplier management, and inventory management.
The company markets its platform to a range of enterprises in various industries, such as healthcare and pharmaceuticals, retail, financial services, manufacturing, technology, and others primarily through a direct sales force worldwide. The company was founded in 2006 and is headquartered in San Mateo, California.-YahooFinance