Coupa Software tops Wall Street estimates in the fiscal third quarter

By: Wajeeh Khan
Wajeeh Khan
Wajeeh is an active follower of world affairs, technology, an avid reader, and loves to play table tennis in… read more.
on Dec 8, 2020
  • Coupa Software tops Wall Street estimates in the fiscal third quarter.
  • The global technology platform gives upbeat guidance for Q4.
  • Coupa is currently over 100% up year to date in the stock market.

Coupa Software Inc. (Nasdaq: Coup) published its earnings report for the fiscal third quarter on Monday that came in better than what analysts had anticipated. The company also gave upbeat guidance for the full year on Monday.

Coupe jumped roughly 4% in after-hours trading on Monday. At £251.83 per share, shares of the company are more than 100% up year to date in the stock market after recovering from a low of £82 per share in March when the impact of COVID-19 was at its peak. Learn more about how to invest in the stock market.

Coupa’s Q3 financial results versus analysts’ estimates

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Coupa said that its loss in the third quarter printed at £45.50 million that translates to 65.86 pence per share. In the same quarter last year, its loss was capped at a lower £19.68 million or 31.43 pence per share.

On an adjusted basis, the global technology platform earned 13.47 pence per share in Q3 versus the year-ago figure of 14.97 pence per share. Coupa also said on Monday that it generated £99.53 million of revenue in the recent quarter as compared to a lower £76.18 million in Q3 of last year.

According to FactSet, experts had forecast the company to record £92.80 million of revenue in the third quarter. Their estimate for per-share earnings in Q3 stood at a lower 2.25 pence. In separate news from the United States, Cisco said that it will buy UK’s IMImobile for £543 million on Monday.

Coupa’s guidance for the fiscal fourth quarter

For the fiscal fourth quarter, the San Mateo-based company forecasts 8.23 pence per share to 9.73 pence per share of adjusted earnings. For revenue in Q4, it estimates £108.51 million to £109.26 million in Q4. Coupa forecasts up to 36.67 pence per share of adjusted earnings for the full year on up to £392.15 million of revenue.

In comparison, analysts are calling for 0.75 pence of adjusted earnings in the fourth quarter on £97.29 million of revenue. For the full year, their estimate stands at 33.68 pence per share of adjusted earnings and £374.93 million of revenue. Coupa announced a strategic partnership with Spaulding Ridge last week.

Coupa Software performed largely upbeat in the stock market last year with an annual gain of close to 150%. At the time of writing, it has a market cap of £16.69 billion.

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