Coupa takeout price would need to be closer to $90, says Needham

Needham analyst Joshua Reilly noted that Bloomberg reported this afternoon that a potential takeover by Vista Equity Partners was under discussion, stating that he believes the current valuation near $60 is “too low of a takeout price given recent transactions in the space” and Coupa’s strong competitive position. The analyst, who believes a takeout price “would need to be closer to” $90 per share, has a Buy rating and $90 price target on Coupa, which is up $13.49, or 30%, to $59.21 in afternoon trading.