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Coupa Software Tanks 20% On Weak Outlook

Shares of Coupa Software Inc. (COUP) tanked nearly 20% on Tuesday morning hurt largely by the business software company's outlook for the first quarter and fully year.

COUP is currently trading at $72.14, down $17.68 or 19.68%, on the Nasdaq.

Looking forward to the first quarter, the company expects revenues of $189.0 million to $191.0 million and adjusted earnings of $0.03 to $0.06 per share. Analysts currently estimate earnings of $0.05 per share on revenues of $196.14 million for the quarter.

For the full year 2023, the company expects revenues of $836.0 million to $840.0 million and adjusted earnings of $0.15 to $0.19 per share. Analysts currently estimate earnings of $0.74 per share and revenues of $877.51 million.

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