Baird analyst Joe Vruwink downgraded Q2 Holdings (QTWO) to Neutral from Outperform with a price target of $99, up from $89. The firm sees a balanced risk/reward at current share levels. Digital banking investment likely continues at a “nice pace” in 2025, but this seems balanced against Q2’s current valuation, the analyst tells investors in a research note. Baird says that historically from these valuation levels, the stock’s upside/downside experience “is about even.”
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