DA Davidson keeps a Buy rating and $38 price target on Q2 Holdings, saying the stock has fallen about 35% over the past two trading days on investor concerns about the company’s exposure to bank runs, but that selloff is overdone. The firm further cites Q2 Holdings’ 8-K filing, noting that the company has modest exposure to Silicon Valley Bank but no exposure to Signature Bank.
Published first on TheFly
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Read More on QTWO:
- Q2 Holdings says less than $5,000 in cash held at SVB, no deposits at Signature
- Q2 Holdings price target raised to $38 from $36 at DA Davidson
- Q2 Holdings price target raised to $38 from $35 at Needham
- Q2 Holdings price target lowered to $42 from $45 at Raymond James
- Q2 Holdings sees FY23 revenue $632M-$640M, consensus $646.49M
