UPDATE: Stifel Reiterates On Q2 Holdings Following 3Q14 Financial Results

In a report published Friday, Stifel analyst Tom Roderick reiterated a Buy rating on Q2 Holdings Inc QTWO, and raised the price target from $18.00 to $20.00. In the report, Stifel noted, “On Thursday, November 6th, after the market close, Q2 Holdings reported 3Q14 financial results. The quarter once again beat estimates for nearly every key measure, with revenue up 47% y/y and 10% q/q. The company signed a Top 100 Credit Union and added another 200k registered users to end with over 4.1mn, up 39% y/y. Management set its 4Q14 guidance at ~39% y/y growth, nicely above Street expectations. We reiterate our Buy rating and are raising our target price to $20.” Q2 Holdings closed on Thursday at $15.10.