- Baird on Tuesday downgraded Q2 Holdings ( NYSE: QTWO ) to Neutral from Outperform, given more balanced risk/reward at current levels as the stock has outperformed YTD.
- Shares of Q2 ( QTWO ), which rose 1.1% on Tuesday, have gained 19.2% YTD.
- Banks continue to scrutinize tech spending, with certain key areas seeing firmer commitments, analyst Jon Vruwink noted.
- "Based on our surveying of mid-size institutions last fall and now a more recent survey by a consultancy, there is noteworthy consistency around areas of focus within commercial systems, lending origination, and financial crime software," said Vruwink.
- "We view findings as more mixed for QTWO (commercial good, but moderation in retail banking)," he added.
- Baird set a price target of $32 on Q2 ( QTWO ), implying 0.1% potential downside to its last close.
- Baird's stance is in line with SA Quant's Hold rating on Q2 ( QTWO ), while Wall Street analysts on average are bullish on the stock .
- Sell-side
For further details see:
Q2 cut to Neutral at Baird on more balanced risk/reward