Coupa Software Partners With Japan Cloud

Coupa Software has inked a strategic partnership deal with Japan Cloud. The two plan to establish Coupa K.K, a joint venture focused on supporting Japanese companies looking to leverage Business Spend Management (BSM) to enhance greater efficiency.

Business Spend Management is proving to be a must-have for companies looking to adapt to a world of remote working. Similarly, the new joint venture affirms Coupa’s (COUP) commitment to scaling its business worldwide and helping Japanese companies achieve greater efficiency levels.

Shares of Coupa skyrocketed 131.5% in 2020 and are down 21% year to date. (See Coupa Software stock analysis on TipRanks)

With more than twenty years of enterprise software experience, Japan Cloud’s Takashi Ozeki will head the joint venture. He is tasked with pursuing growth opportunities in Japan’s cloud market that could be worth $18 billion by 2023.

“Japan Cloud is thrilled to partner with Coupa to play an active role in scaling their Japan operations and making their comprehensive Business Spend Management platform the standard for Japanese companies,” stated the CEO of Japan Cloud, Aruna Basnayake.

Coupa recently reported solid Q4 earnings and provided revenue guidance that came in ahead of consensus estimates. 

Following the impressive quarterly results, Oppenheimer analyst Brian Schwartz reiterated a Buy rating on the stock. The analyst has a 12-18 month price target of $320 on COUP, implying approximately 21% upside potential to current levels.

Schwartz commented, “The solid quarterly results highlight good execution and overall category momentum. The company’s organic growth is more than double the industry average (i.e, gaining large share) and is sustaining Tier 1 growth for SaaS companies.”

Wall Street analysts have a Buy rating on COUP based on 8 Buys and 3 Holds. The average analyst price target is $352, which implies 32.70% upside potential to current levels.

TipRanks’ Smart Score tool indicates investors are neutral on Coupa stock based on a score of 6 out of 10.

Related News
AutoNation Becomes Inter Miami CF’s Exclusive Automotive Partner
McGrath RentCorp Snaps Up Facility Rental Company Kitchens To Go
Sanofi Snaps Up Tidal Therapeutics For $160M