Investing

Goldman Sachs Raises Price Targets on 3 Red-Hot Stocks to Buy

With the year-end holidays almost here, and just three short weeks left in 2020, many investors are looking to next year and starting to reset portfolios. Many investors remain very nervous, especially given the massive fourth-quarter rally off the September market lows and the markets printing all-time highs seemingly daily. The overall take is one of slow but steady going forward, given the incredible run in the equity markets and the potential for a slowing economy due to the COVID-19 flare-ups.

In a series of new reports, Goldman Sachs raises the price targets on stocks of some companies that delivered the goods in a big way during earnings season. Given the increases in price targets, they still look to have some very solid upside potential. Here we spotlight three stocks rated Buy in which the analysts have significantly boosted the price targets.

However, it is important to remember that no single analyst report should be used as a sole basis for any buying or selling decision.

Coupa Software

This is a recognized leader in what is called sourcing applications. Coupa Software Inc. (NASDAQ: COUP) provides a unified, cloud-based spend management platform that connects organizations with suppliers globally. The company offers spend management cloud applications that are pre-integrated. The platform offers consumerized financial applications.

The Coupa Software platform offers consumerized financial applications. Its spend management suite includes procurement, invoicing, expenses, sourcing, inventory, contract lifecycle management, budgeting, analytics, open business network, supplier information management and storefront.

The platform offers features such as procure-to-pay solution; online invoice management, and inventory management and tracking software system. Its solutions for business needs include financial compliance and mobile productivity. The company’s solutions for enterprise resource planning include Oracle and NetSuite. Coupa offers solutions for industries, including financial, health care, oil and gas, retail, technology, and food and beverage.