Q2 Holdings Inc. (NYSE:QTWO) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research note issued to investors on Wednesday.
According to Zacks, “Q2 Holdings, Inc. provides secure, cloud-based virtual banking solutions. The Company’s solutions include Q2online, Q2themes, Q2mobility App, Q2mobile Remote Deposit Capture, Q2text, Q2voice, Q2clarity and Q2 Risk & Fraud Analytics. It enables regional and community financial institutions, or RCFIs, to deliver a suite of integrated virtual banking services. Q2 Holdings, Inc. is headquartered in Austin, Texas. “
A number of other equities research analysts have also issued reports on the stock. Needham & Company LLC reaffirmed a “buy” rating and set a $34.00 target price on shares of Q2 Holdings in a report on Monday, August 29th. RBC Capital Markets reaffirmed an “outperform” rating and set a $31.00 target price (up previously from $27.00) on shares of Q2 Holdings in a report on Friday, August 5th. Royal Bank Of Canada upped their target price on shares of Q2 Holdings from $27.00 to $31.00 and gave the stock an “outperform” rating in a report on Friday, August 5th. BTIG Research reissued a “buy” rating and set a $32.00 price target on shares of Q2 Holdings in a research report on Thursday, August 4th. Finally, Morgan Stanley started coverage on shares of Q2 Holdings in a research report on Monday, July 25th. They set an “equal weight” rating and a $29.00 price target on the stock. Two research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. The company currently has a consensus rating of “Buy” and a consensus target price of $30.50.
Q2 Holdings (NYSE:QTWO) traded down 0.31% on Wednesday, reaching $29.00. 11,335 shares of the company’s stock were exchanged. Q2 Holdings has a one year low of $16.43 and a one year high of $30.73. The stock’s market cap is $1.15 billion. The firm has a 50 day moving average of $28.28 and a 200-day moving average of $26.38.
Q2 Holdings (NYSE:QTWO) last released its earnings results on Wednesday, August 3rd. The company reported ($0.25) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.12) by $0.13. Q2 Holdings had a negative return on equity of 22.39% and a negative net margin of 27.14%. The business had revenue of $36 million for the quarter, compared to analysts’ expectations of $35.66 million. The firm’s revenue for the quarter was up 36.9% compared to the same quarter last year. Equities research analysts forecast that Q2 Holdings will post ($0.35) EPS for the current fiscal year.
In other Q2 Holdings news, Director Charles T. Doyle sold 15,058 shares of the company’s stock in a transaction dated Monday, August 1st. The shares were sold at an average price of $30.00, for a total value of $451,740.00. Following the transaction, the director now owns 899 shares of the company’s stock, valued at $26,970. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, SVP Sherri Manning sold 10,000 shares of the company’s stock in a transaction dated Tuesday, July 26th. The shares were sold at an average price of $29.00, for a total transaction of $290,000.00. Following the completion of the transaction, the senior vice president now directly owns 21,700 shares in the company, valued at approximately $629,300. The disclosure for this sale can be found here. 38.10% of the stock is currently owned by company insiders.
A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. JPMorgan Chase & Co. boosted its position in Q2 Holdings by 28.9% in the first quarter. JPMorgan Chase & Co. now owns 1,773,208 shares of the company’s stock worth $42,628,000 after buying an additional 397,939 shares during the last quarter. Columbia Wanger Asset Management LLC boosted its position in Q2 Holdings by 119.8% in the second quarter. Columbia Wanger Asset Management LLC now owns 689,760 shares of the company’s stock worth $19,327,000 after buying an additional 375,988 shares during the last quarter. Massachusetts Financial Services Co. MA bought a new position in Q2 Holdings during the second quarter worth approximately $8,232,000. Gilder Gagnon Howe & Co. LLC boosted its position in Q2 Holdings by 38.7% in the second quarter. Gilder Gagnon Howe & Co. LLC now owns 805,248 shares of the company’s stock worth $22,563,000 after buying an additional 224,779 shares during the last quarter. Finally, BlackRock Institutional Trust Company N.A. boosted its position in Q2 Holdings by 54.9% in the second quarter. BlackRock Institutional Trust Company N.A. now owns 594,154 shares of the company’s stock worth $16,648,000 after buying an additional 210,702 shares during the last quarter. 89.16% of the stock is currently owned by institutional investors.
Q2 Holdings Company Profile
Q2 Holdings, Inc is a provider of secure, cloud-based virtual banking solutions. The Company enables regional and community financial institutions (RCFIs) to deliver a range of virtual banking services. The Company delivers virtual banking solutions across online, mobile, voice and tablet channels. The Company’s solutions are the point of interaction between its RCFI customers and their account holders.
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