Coupa Picks Up Amid Earnings, Possible Buyout| MENAFN.COM

Saturday, 03 December 2022 01:56 GMT

Coupa Picks Up Amid Earnings, Possible Buyout


(MENAFN- Baystreet.ca) Coupa Picks up Amid Earnings, Possible Buyout

Coupa Software (NYSE:COUP) gained ground Friday morning, on top of its 28.9% Wednesday surge, following a Bloomberg report that private equity firm Vista Equity Partners was considering a buyout of the company.

Earlier this month, Coupa announced quarterly earnings of $2.91 per share, beating the Zacks Consensus Estimate of $2.63 per share. This compares to earnings of $0.70 per share a year ago. These figures are adjusted for non-recurring items.

This quarterly report represents an earnings surprise of 10.65%. A quarter ago, it was expected that this holding company for Panama's national airline would post earnings of $0.27 per share when it actually produced earnings of $0.32, delivering a surprise of 18.52%.

Over the last four quarters, the company has surpassed consensus EPS estimates four times.

Coupa Holdings , which belongs to the Zacks Transportation - Airline industry, posted revenues of $809.45 million for the quarter ended September 2022, missing the Zacks Consensus Estimate by 0.83%. This compares to year-ago revenues of $445 million. The company has topped consensus revenue estimates three times over the last four quarters.

The sustainability of the stock's immediate price movement based on the recently-released numbers and future earnings expectations will mostly depend on management's commentary on the earnings call.

Coupa's gain was 60 cents to $87.05.

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