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Fly News Breaks for August 9, 2018
QTWO
Aug 9, 2018 | 08:25 EDT
DA Davidson analyst Peter Heckmann raises his price target on Q2 Holdings to $52 after its in-line Q2 results and raised FY18 guidance, citing the company's added 0.5M registered users with an increase in registered users of 19% for the year. The analyst also cites Q2's implied quarterly bookings growth of $67M after its backlog grew to $765M. Heckmann keeps his Neutral rating on the stock, saying the valuations of the peer SAAS group are becoming "extended".