Roth Capital analyst Jeff Martin raised his price target to $34 from $26 and reiterated his Buy rating following the company's Q2 earnings report. In a research note to investors, the analyst said the company's transition to a subscription-based model is making "significant" strides, with subscription and subscription-related revenue up 55% in the quarter to $20M, or 43% of revenue. Rising attach rates of add-on services, currently 40% and rising, combined with greater than 90% revenue retention should appeal to investors that favor subscription-based business models, the analyst said.