UPDATE: JPMorgan Downgrades Coupa Software (COUP) to Underweight
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JPMorgan analyst Mark Murphy downgraded Coupa Software (NASDAQ: COUP) from Neutral to Underweight with a price target of $100.00.
The analyst comments "We are downgrading COUP to Underweight from Neutral, although we are maintaining our Dec 2020 price target of $100, which is based on ~14.5x EV/CY20E revenue. Our multiple considers Coupa’s position as a leader in a competitive field and high dollar retention rates, counterbalanced by its lower growth and margin profile and potential risks for a slowdown in the business momentum in a less robust economic environment."
Shares of Coupa Software closed at $161.94 yesterday.
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