Q2 Holdings (QTWO) PT Raised to $82 at BTIG

BTIG analyst Mark Palmer raised the price target on Q2 Holdings (NYSE: QTWO) to $82.00 (from $75.00) while maintaining a Buy rating.

The analyst comments "We recently hosted Q2 management for a few days of investor meetings where the tone was increasingly constructive around a number of key growth initiatives and internal efficiency programs. Importantly, the traction of the single platform product messaging is resonating with larger customers, especially with the breadth and depth of the Commercial line of business complemented by its Relationship Pricing lending solution. The combined product set has a significant TAM opportunity in the next few years with net-new (>$15bn) and existing customers (~$3bn cross-sell potential). We remain bullish on QTWO shares and thus raise our PT to $82 (from $75) to reflect more confidence in near-term performance, which should result in slight multiple expansion."

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