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Fly News Breaks for June 6, 2019
COUP
Jun 6, 2019 | 09:29 EDT
Loop Capital analyst Joseph Vafi raised his price target on Coupa Software to $125 and kept his Buy rating, saying its 2nd convertible debt offering in 18 months underscores the management's confidence in the company's business momentum. The analyst further notes that even after an "unseasonably strong" billings performance in Q1, he does not believes that the company's pipeline of new business was depleted, adding that Coupa Pay module offers some medium-term upside for the stock as it is just starting its roll-out in "Early Access release."
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