5 Best Stocks to Buy Before 2022

3. Coupa Software Incorporated (NASDAQ:COUP)

Number of Hedge Fund Holders: 54   

Coupa Software Incorporated (NASDAQ:COUP) owns and runs a cloud-based platform that offers business spend management services. The firm recently beat market expectations on earnings for the second fiscal quarter and improved guidance. It beat 30% growth estimates and the demand trends for the company continue to improve. Needham raised the price target on the stock to $315 from $280 in September and kept a Buy rating. 

Rob Bernshteyn, the CEO of Coupa Software Incorporated (NASDAQ:COUP), told CNBC in an interview earlier this year that the post-pandemic economy would likely increase interest in the product of the firm and that the sales pipeline of the company “was the largest it had ever been”.

Among the hedge funds being tracked by Insider Monkey, Connecticut-based investment firm Lone Pine Capital is a leading shareholder in Coupa Software Incorporated (NASDAQ:COUP) with 4.6 million shares worth more than $1.2 billion. 

In its Q4 2020 investor letter, Artisan Partners Limited Partnership, an asset management firm, highlighted a few stocks and Coupa Software Incorporated (NASDAQ:COUP) was one of them. Here is what the fund said:

“We started new investment campaigns in Coupa Software. Coupa is a leading provider of cloud-based business spend-management software. The company helps 1,400 customers process over $2 trillion in annual spend across more than 5 million suppliers. While this quarter’s announcement of a major new customer win at Walmart shows it still has a long runway for growth in this business, we are particularly excited about Coupa Pay—a recently introduced set of cloud services that seeks to process B2B payments (not just invoices) across its large network. B2B payments has seen far less innovation in recent years compared to B2C (PayPal, Venmo, Square), but we see it as a major opportunity in the years ahead.”