Benzinga | Sep 21, 2020 03:09PM EDT

Why Coupa Software's Stock Is Trading Higher Today

Coupa Software (NASDAQ:COUP) shares are trading higher on Monday after Morgan Stanley maintained an Overweight rating on the stock and raised its price target from $272 to $330.

Coupa Software is a cloud-based, business spending management platform that provides companies with more control and visibility into how they spend money. Since it was founded in 2006, Coupa has connected buyers with suppliers and helped buyers save money by improving procurement, expense management, and invoice processing.

The company is headquartered in San Mateo, California, and went public in October 2016.

Coupa Software shares were trading up 5.15% at $260.97 on Monday. The stock has a 52-week high of $253.55 and a 52-week low of $99.01.