Q2 Holdings price target lowered to $90 from $115 at Needham

Needham lowered the firm’s price target on Q2 Holdings (QTWO) to $90 from $115 and keeps a Buy rating on the shares. The company posted a solid Q3, beating estimates on the top and bottom line on the back of 17.5% subscription revenue growth and impressive gross and EBITDA margin expansion, though the firm is reducing its price target to reflect lower valuations for software stocks, the analyst tells investors in a research note.