Needham analyst Ryan MacDonald raised his price target on Coupa Software to $160 and kept his Buy rating, saying that while investors may be concerned with the premium valuation on the stock, the company has now generated 5 consecutive quarters of accelerating subscription revenue growth. The analyst attributes the "success" to Coupa Software's "strong" end-market demand, execution across the mid-market, and enterprise spending that is driving larger deal sizes. MacDonald expects the company to sustain a long runway for accelerated growth thanks to the investments being made to scale its product internationally and expand its platform.