Canaccord analyst Joseph Vafi upgraded Q2 Holdings to Buy from Hold with a price target of $40, up from $25. While it seemed likely that bank spend would slow post the “mini-March bank crisis, just the opposite seems to be occurring,” the analyst tells investors in a research note. Against this backdrop, Q2’s bookings performance has been quite strong over the past couple of quarters, says the firm. It believes the fight for customer deposits is driving strong demand for digital banking solutions.
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