BTIG Downgrades Q2 Holdings (QTWO) to Neutral
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BTIG downgraded Q2 Holdings (NYSE: QTWO) from Buy to Neutral and removed its price target. The downgrade followed a strong rally in the stock.
Analyst Mark Palmer said, "While we continue to believe QTWO’s online/mobile SaaS banking platform positions it to significantly increase its share of the regional and community financial institution (RCFI) market in North America, the company’s shares have rallied by almost 91% since February 8, leaving them much closer to fairly valued, in our view."
Shares of Q2 Holdings closed at $32.10 yesterday.
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