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Q2 Holdings price target lowered to $105 from $110 at Raymond James

Raymond James analyst Alexander Sklar lowered the firm’s price target on Q2 Holdings (QTWO) to $105 from $110 and keeps an Outperform rating on the shares. The Q1 beat was above trend and the outlook for both growth and profitability was raised for the full year, the analyst tells investors in a research note. Bookings were consistent to start the year despite the tougher macro backdrop with broad-based solution success across its digital banking, fraud, relationship pricing, and Helix offerings and 3 top 10 customer renewals, the firm says, adding that the potential return of larger enterprise bookings provides additional optionality to the bookings outlook.

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