Q2 Holdings price target lowered to $60 from $100 at Canaccord

Canaccord analyst Joseph Vafi lowered the firm’s price target on Q2 Holdings to $60 from $100 and keeps a Buy rating on the shares. The analyst said he is encouraged by management’s preliminary view into 2023 which calls for continued growth in the key revenue line of subscription software revenue while at the same time, the overall P&L is going to be somewhat muddied short term by softness in lower margin and more discretionary revenue.