Coupa Software is scheduled to report its Q3 results in December.
The cloud company shot up about 35% following the Bloomberg report.
Coupa Software Inc (NASDAQ: COUP) looks poised to extend gains this morning, which recently materialised following a report that Vista Equity Partners was interested in buying the cloud company.
Prospect of a ‘no deal’ remains on the table
Anonymous sources told Bloomberg on Wednesday that Coupa Software has already held talks with the private equity company and is now working with an advisor. The stock had shot up over 30% in response.
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Private-credit lenders, the report suggests, will finance if such an agreement indeed is signed. Nothing, though, is carved in stone for now and the prospect of a “no deal” remains on the table.
Other potential buyers could line up to take a shot at Coupa Software as well, the sourced added. Neither Visa Equity Partners nor Coupa Software has made an official statement responding to the Bloomberg report so far.
Coupa Software to report its Q3 results in December
For the year, shares of the California-based company that makes software for business spend management are still down more than 60%.
That significantly lowered valuation related to the rate hikes this year makes Coupa Software an easy target for a potential acquisition.
The Nasdaq-listed firm is scheduled to report its Q3 results in the second week of December. Consensus is for it to lose 62 cents a share this quarter versus 36 cents per share a year ago – and here’s how it performed in the previous quarter.
Those interested in buying the Coupa Software stock should also consider that the Wall Street currently has a consensus “overweight” rating on this tech stock.
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