Does this sentence make sense for the word coquette?:

My friend likes to coquette with most of the guys at school.

?

The word "coquette" is a noun, not a verb.

http://dictionary.reference.com/browse/coquette

i thought it could be used for both

...that's what it says on the website

what about..My friend acted like a coquette at the party last night

?

Your second sentence is fine.

Go back and look at that dictionary link. Notice the spelling if you plan to use it as a verb, but be aware that's a very rare use.

Yes, the sentence makes sense for the word "coquette." In this context, "coquette" is used as a verb, meaning to flirt or show a playful romantic interest in others. The sentence implies that the speaker's friend enjoys flirting with or showing romantic interest in many guys at school.