Q2 Holdings initiated with a Buy at Goldman Sachs

Goldman Sachs analyst Adam Hotchkiss initiated coverage of Q2 Holdings with a Buy rating and $38 price target, which implies 19% upside. Q2’s user-facing technology should benefit from a resilient spending environment, the analyst tells investors in a research note. The firm views Q2 as an increasingly essential digital banking platform, with broad-based functionality ranging from digital retail and commercial banking offerings to onboarding and marketing functionality.