Coupa (COUP) - Get Report got a vote of confidence from a top industry analyst, though the shares of the fast-growing business-spending-software company lost ground in Tuesday's market downturn.

Northland Securities analyst Robert Breza bumped up his price target on Coupa to $165 from $150, Bloomberg reported.

Breza affirmed his market-perform rating on the San Mateo, Calif., producer of software to enable businesses to track and make optimal use of their outlays.

Northland's optimistic outlook on Coupa is no outlier: Bloomberg shows analysts have 15 buy ratings on the stock, 8 holds, and no sells.

Price targets range $100 to $185, with analysts overall having boosted their price outlook by 8.7% over the past three months, the news service reported. 

Despite the bullish note -- and a stellar earnings report -- Coupa shares at last check were 6.4% lower at $139.40.

President Donald Trump's statement that he may wait until after the 2020 election to cut a trade deal with China put stocks on Tuesday broadly under pressure.

Coupa on Monday blew past analysts' earnings estimates with its latest quarterly report. For the third quarter ended Oct. 31 Coupa reported profit of 20 cents a share, nearly triple the Zacks consensus estimate of 7 cents. For the year-earlier quarter, Coupa reported earnings of 8 cents a share.

The company also produced a revenue beat for the quarter. It took in $101.8 million, 5.5% above the Zacks-compiled estimate and half again as much as the $67.5 million the company reported for the year-earlier quarter.

Shares of Coupa have more than doubled this year; they'd closed 2018 at $62.86. They touched a 52-week high near $160 in mid-October.