Q2 Holdings price target lowered to $101 from $108 at RBC Capital

RBC Capital lowered the firm’s price target on Q2 Holdings (QTWO) to $101 from $108 and keeps a Sector Perform rating on the shares. The momentum from FY24 carried through to Q1, with net new sales strength coupled with continued renewal activity and with the company calling out renewals with three of their top 10 customers across digital banking, Helix and relationship pricing, the analyst tells investors in a research note. RBC adds however that its reduced target is to keep the target multiple in line with similar growth software peers.