Coupa Software Stock Is a Buy, Even Though Demand For Corporate Budgeting Software Slows
As with other cloud stocks that have raced higher this year amid the coronavirus market meltdown, Coupa Software (NASDAQ: COUP) is a big winner. Up over 50% year to date after its fiscal 2021 first quarter (the three months ended April 30, 2020), some investors may feel that the boat may have been missed.
That's not necessarily the case. Though high demand due to organizations adapting to work-from-home and shelter-in-place orders is now more than priced into the share price, Coupa Software is facing some headwinds along with its customers due to the current state of the global economy. And in spite of those headwinds, the company is still growing mighty fast. It is priced for an uptick later on, but this could be a highly profitable cloud software stock down the road.
For those with enough time to wait, Coupa is still a buy -- although an asterisk is needed.
Source Fool.com
