DA Davidson raised the firm’s price target on Q2 Holdings (QTWO) to $86 from $76 and keeps a Neutral rating on the shares after its Q3 results. The company reported another solid quarter for total bookings, the seventh quarter in a row, the analyst tells investors in a research note, adding that the majority of the company’s revenue is generated by recurring, monthly subscription fees from multi-year contracts. Q2 Holdings is solidly back on track, though a substantial portion of the improved outlook has been reflected in the 207% share price appreciation over the last year, the firm adds.
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Read More on QTWO:
- Q2 Holdings price target raised to $105 from $76 at RBC Capital
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- Q2 Holdings price target raised to $90 from $65 at Morgan Stanley