RBC Capital analyst Rishi Jaluria upgraded Coupa Software (COUP) to Sector Perform from Underperform with a price target of $81, up from $55, following the announcement of the proposed transaction to be acquired by Thoma Bravo in an all-cash deal for $8.0B enterprise value, or $81 per share. Following Thoma Bravo’s $32.4B funding round, Jaluria believes there could be more to come in software M&A and recently identified Couchbase (BASE), Box (BOX), Dropbox (DBX), Duck Creek Technologies (DCT), Fastly (FSLY), N-able (NABL), New Relic (NEWR), Nutanix (NTNX), Okta (OKTA), Qualys (QLYS), Rapid7 (RPD), Smartsheet (SMAR), Splunk (SPLK), Sumo Logic (SUMO), SolarWinds (SWI), Teradata (TDC), Varonis (VRNS) and Zoom Video (ZM) as potential candidates.
Published first on TheFly
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Read More on COUP:
- Coupa Software downgraded to Market Perform from Outperform at William Blair
- Thoma Bravo Scoops Up Coupa (NASDAQ:COUP) For $8 Billion
- Coupa Software reports Q3 non-GAAP EPS 15c, consensus 10c
- Coupa Software Enters into Definitive Agreement to Be Acquired by Thoma Bravo for $8 Billion
- Coupa Software Reports Third Quarter Fiscal 2023 Financial Results
