Piper Sandler analyst Arvind Ramnani lowered the firm’s price target on Q2 Holdings to $20 from $26 and keeps an Underweight rating on the shares. The analyst reiterates a cautious view on the shares given a "heightened level of uncertainty" within the company’s core client base. Within its 1,400 client base, Q2 has more than 40% of the top-100 U.S. banks and 40% of the top U.S. credit unions as customers, the analyst tells investors in a research note. The firm sees the recent developments as further extending decision-making and believes tech-related work is likely to be re-prioritized given a "tumultuous operating environment for banks."
Published first on TheFly
See Insiders’ Hot Stocks on TipRanks >>
Read More on QTWO:
- Q2 Holdings selloff overdone, says DA Davidson
- Q2 Holdings says less than $5,000 in cash held at SVB, no deposits at Signature
- Q2 Holdings price target raised to $38 from $36 at DA Davidson
- Q2 Holdings price target raised to $38 from $35 at Needham
- Q2 Holdings price target lowered to $42 from $45 at Raymond James
