Q2 Holdings price target raised to $61 from $47 at Piper Sandler

Piper Sandler raised the firm’s price target on Q2 Holdings to $61 from $47 and keeps a Neutral rating on the shares following the better than expected Q1 report. The firm expects the company’s underlying themes to continue into fiscal 2024 and beyond, with margin improvement coming from a continued focus on cost efficiencies along with an increasing mix of subscription revenue.