Piper Sandler raised the firm’s price target on Q2 Holdings (QTWO) to $93 from $74 and keeps a Neutral rating on the shares. The firm notes Q2 Holdings’ Q3 results came in ahead of expectations, with revenues of $175M, which flowed through to EBITDA of $32.6M. Growth was driven by subscription revenue of 18% and offset by services and other decline of -11%. Piper views this continued mix shift to higher subscription revenue as a positive, given the higher margin profile of subscription revenues.
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Read More on QTWO:
- Q2 Holdings price target raised to $90 from $65 at Morgan Stanley
- Q2 Holdings price target raised to $100 from $75 at Stephens
- Q2 Holdings Reports Strong Q3 2024 Performance
- Q2 Holdings reports Q3 EPS (20c) vs. (40c) last year
- Q2 Holdings sees Q4 non-GAAP revenue of $178.1M-$181.1M, consensus $179.3M