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Fly News Breaks for September 5, 2018
COUP
Sep 5, 2018 | 07:24 EDT
Needham analyst Ryan MacDonald raised his price target on Coupa Software to $83 and kept his Buy rating after its "whopping" Q2 earnings beat and a 39% increase in subscription revenues. The analyst notes that despite the investor concerns around the company valuation, he sees a "number of levers" for Coupa Software to sustain "durable growth" and improve profitability. MacDonald adds that the company is seeing a "strong adoption of non-core applications, has a favorable competitive environment, and a growing partner ecosystem with deeper SI partnerships", with its strong execution expected to continue supporting its "premium valuation".
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