RBC Capital raised the firm’s price target on Q2 Holdings to $60 from $46 and keeps a Sector Perform rating on the shares. The company’s Q1 results were “solid” with continued strong new and renewed client wins, backlog growth of 25%, annual recurring revenue growth of 13%, and free cash flow turning positive for the first time ever for the period,the analyst tells investors in a research note. Q2’s single modern platform are clearly resonating with financial institutions looking to grow deposits and increase efficiency, the firm added.
Meet Your ETF AI Analyst
- Discover how TipRanks' ETF AI Analyst can help you make smarter investment decisions
- Explore ETFs TipRanks' users love and see what insights the ETF AI Analyst reveals about the ones you follow.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on QTWO:
- Q2 Holdings price target raised to $62 from $50 at Raymond James
- Q2 Holdings price target raised to $60 from $48 at Stifel
- Q2 Holdings price target raised to $60 from $50 at Truist
- Generations Federal Credit Union partners with Q2 Holdings
- Los Angeles Police Federal Credit Union selects Q2 for digital banking