What happened Coupa Software (NASDAQ: COUP) stock gained ground in November amid a recovery for cloud software stocks. Shares gained 11.6% in the month, according to data from S&P Global Market Intelligence, and the business spending management specialist is now up roughly 143% year to date. COUP data by YCharts. Coupa stock hit a new lifetime high in October, but the software-as-a-service (SaaS) company's valuation slipped soon after due to sell-offs in the broader cloud software space. Investors moved back into cloud stocks in November as the market rallied and major indexes hit new highs, and Coupa shares benefited from the recovery. Image source: Getty Images. So what Coupa stock has posted fantastic performance in 2019 thanks to impressive business momentum. More client partners have joined its platform, total enterprise spend under the company's management has grown at an encouraging clip, and the market has warmed up to the value that its data analysis platform provides. Cautious guidance from leading cloud software companies including Workday and a string of analyst price cuts for enterprise cloud companies in October prompted sell-offs in the space, pushing Coupa stock down from its lifetime high. Market momentum in November reenergized the stock, and the strong quarterly results it posted on Dec. 2 have helped it weather market volatility this month. Now what Coupa's third-quarter results topped the market's top-and-bottom line performance targets. Sales for the period came in at $101.78 million, beating the average analyst target by roughly $5.6 million. The company recorded earnings per share of $0.20 in the quarter, handily surpassing the average analyst estimate's call for per-share earnings of $0.06. Management is targeting sales between $101.5 million and $102.5 million for the fourth quarter and non-GAAP (adjusted) earnings per share between $0.03 and $0.06. Full-year revenue is expected to come in between $379.8 and $380.8 million, and adjusted earnings for the year are projected to be between $0.34 and $0.37 per share. Based on management's target, Coupa is valued at roughly 25.5 times expected sales for the year. 10 stocks we like better than Coupa SoftwareWhen investing geniuses David and Tom Gardner have a stock tip, it can pay to listen. After all, the newsletter they have run for over a decade, Motley Fool Stock Advisor, has tripled the market.* David and Tom just revealed what they believe are the ten best stocks for investors to buy right now... and Coupa Software wasn't one of them! That's right -- they think these 10 stocks are even better buys. See the 10 stocks *Stock Advisor returns as of December 1, 2019 Keith Noonan has no position in any of the stocks mentioned. The Motley Fool owns shares of and recommends Workday. The Motley Fool owns shares of Coupa Software. The Motley Fool has a disclosure policy.Source