Q2 (NYSE:QTWO) Downgraded by Zacks Investment Research

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Zacks Investment Research cut shares of Q2 (NYSE:QTWO) from a hold rating to a sell rating in a research note published on Wednesday morning, Zacks.com reports.

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. “

Several other brokerages also recently weighed in on QTWO. William Blair assumed coverage on Q2 in a report on Monday, April 1st. They issued an outperform rating and a $69.71 price target on the stock. Wells Fargo & Co reduced their price target on Teva Pharmaceutical Industries from $18.00 to $17.00 and set a market perform rating on the stock in a report on Thursday, May 9th. Stephens downgraded Blackbaud from an overweight rating to an equal weight rating and set a $86.00 price target on the stock. in a report on Wednesday, April 3rd. Finally, Craig Hallum reduced their price target on Green Dot from $115.00 to $100.00 and set a buy rating on the stock in a report on Thursday, May 9th. Two equities research analysts have rated the stock with a sell rating, three have issued a hold rating and eleven have assigned a buy rating to the stock. Q2 currently has an average rating of Buy and an average target price of $71.73.

Shares of QTWO stock opened at $81.18 on Wednesday. Q2 has a 1 year low of $43.41 and a 1 year high of $81.54. The company has a debt-to-equity ratio of 1.40, a quick ratio of 2.08 and a current ratio of 2.08. The company’s 50 day moving average is $75.03. The stock has a market capitalization of $3.53 billion, a P/E ratio of -219.41 and a beta of 1.40.

Q2 (NYSE:QTWO) last issued its quarterly earnings data on Tuesday, May 7th. The technology company reported ($0.25) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.04) by ($0.21). Q2 had a negative net margin of 18.89% and a negative return on equity of 16.48%. The company had revenue of $71.30 million for the quarter, compared to analysts’ expectations of $70.67 million. During the same quarter last year, the company earned ($0.14) earnings per share. The company’s revenue for the quarter was up 30.1% on a year-over-year basis. Equities research analysts expect that Q2 will post -0.65 earnings per share for the current fiscal year.

In other Q2 news, SVP Barry G. Benton sold 3,400 shares of the firm’s stock in a transaction on Tuesday, April 30th. The stock was sold at an average price of $75.07, for a total transaction of $255,238.00. Following the transaction, the senior vice president now directly owns 39,957 shares in the company, valued at approximately $2,999,571.99. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Matthew P. Flake sold 120,000 shares of the firm’s stock in a transaction on Monday, June 10th. The stock was sold at an average price of $69.50, for a total value of $8,340,000.00. Following the transaction, the insider now owns 298,999 shares in the company, valued at $20,780,430.50. The disclosure for this sale can be found here. Insiders have sold a total of 534,420 shares of company stock worth $39,584,736 over the last 90 days. 12.80% of the stock is currently owned by company insiders.

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Valeo Financial Advisors LLC increased its holdings in Q2 by 67.4% during the 2nd quarter. Valeo Financial Advisors LLC now owns 385 shares of the technology company’s stock worth $29,000 after purchasing an additional 155 shares during the period. Tortoise Index Solutions LLC bought a new stake in Q2 during the 1st quarter valued at $39,000. Pearl River Capital LLC bought a new stake in Q2 during the 1st quarter valued at $76,000. Marshall Wace North America L.P. boosted its position in Q2 by 82.2% during the 1st quarter. Marshall Wace North America L.P. now owns 1,800 shares of the technology company’s stock valued at $125,000 after acquiring an additional 812 shares in the last quarter. Finally, Strs Ohio bought a new stake in Q2 during the 1st quarter valued at $145,000. Institutional investors own 98.71% of the company’s stock.

Q2 Company Profile

Q2 Holdings, Inc provides cloud-based digital banking solutions to regional and community financial institutions (RCFIs) in the United States. It offers Q2 Digital Banking and Transactions, a browser-based digital banking solution that delivers RCFI-branded digital banking capabilities; Q2mobility App, a mobile and tablet digital banking solution; Q2mobile Remote Deposit Capture, a partnered solution that allows remote check deposit capture; and Q2 Person-to-Person Payments, a partnered secure and integrated person-to-person payments solution.

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