Q2 Holdings: Upside Is Limited Despite Earnings Beat (Rating Downgrade)

Dilok Klaisataporn My investment rating for Q2 Holdings, Inc. (NYSE:QTWO) stock is a Hold now. QTWO's second quarter earnings came in above expectations, and the company raised its FY 2024 EBITDA guidance. But I have chosen to downgrade my rating for Q2 Holdings to a Hold, as the stock's current valuations are fair based on peer and growth comparisons. QTWO's "outlook for the intermediate term and long run" was the subject of my earlier March 13, 2024 update. I assess Q2 Holdings' second quarter results and ...