Q2 Holdings price target raised to $38 from $35 at Needham

Needham analyst Mayank Tandon raised the firm’s price target on Q2 Holdings to $38 from $35 and keeps a Buy rating on the shares. The company’s Q4 results were "soft" as revenue and EBITDA missed expectations, though this was primarily due to a one-time mutual contract termination, the analyst tells investors in a research note. Q2 Holdings also provided a Q21 outlook that calls for softer than expected revenue given the contract termination, but improved profitability, which should be welcomed by investors given the uncertain macro environment, the firm added.