Q2 Holdings downgraded to Neutral from Buy at DA Davidson

DA Davidson downgraded Q2 Holdings to Neutral from Buy with a price target of $76, up from $65, as the firm moves its evaluation framework onto its 2026 forecasts ahead of the company reporting quarterly results. The firm expects the company will meet or modestly exceed forecasts and expects management will affirm, or modestly fine-tune, their prior 2024 guidance ranges, but the strong run in the shares over the last year has pushed the valuation to a level where the firm views the risk/reward as “more balanced,” the analyst tells investors.