Coupa Software (COUP) PT Raised to $125 at BofA/Merrill Lynch

BofA/Merrill Lynch analyst Brad Sills raised the price target on Coupa Software (NASDAQ: COUP) to $125.00 (from $120.00) while maintaining a Buy rating following the company's 1Q earnings report. Total revenue of $81.3 million easily exceeded estimates of $73.4 million, with subscription revenue of $73 million compared to estimates of $67.5 million. EPS of $0.03 exceeded estimates of ($0.04).

Management increased revenue, operating income, and EPS guidance for FY20 by $17 million, 0.8%, and $0.01, to $343 million (32% y/y), 2.3%, and $0.07 to $0.10, from $326 million, 1.5%, and $0.07 at the mid, respectively.

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