RBC Capital analyst Daniel Perlin raised the firm’s price target on Q2 Holdings (QTWO) to $108 from $105 and keeps a Sector Perform rating on the shares. The company’s Q4 marked another solid quarter of positive momentum, with subscription annual recurring revenue up 15% y/y and backlog up 21% y/y, while also seeing strong sales execution signing five Tier 1 & Enterprise Digital Banking clients and two Tier 1 & Enterprise to its relationship pricing platform, the analyst tells investors in a research note.
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