RBC Capital analyst Daniel Perlin raised the firm’s price target on Q2 Holdings (QTWO) to $105 from $76 and keeps a Sector Perform rating on the shares. The company’s beat and raise in Q3 highlights the positive mix shift to higher recurring revenue growth, with subscription annual recurring revenue rising 20% y/y and subscription revenue up 18%, the analyst tells investors in a research note. RBC adds that it remains encouraged by the continued momentum in the business and positive mix shift to subscription revenues for Q2 Holdings.
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