Needham analyst Ryan MacDonald raised his price target on Coupa Software to $195 and kept his Buy rating. The analyst notes that in his recent discussion with its CEO Rob Bernshteyn and CFO Todd Ford, the management highlighted strong customer interest in Coupa Pay and the ability for these deals to increase annual contract value, or ACV. MacDonald adds that while shares trade at the high end of his universe coverage, he is positive on the company's ability to generate over 40% subscription revenue growth in FY21 amid continued traction in the enterprise and increased penetration within the existing base.