Q2 (NYSE:QTWO) Rating Lowered to Sell at Zacks Investment Research

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Q2 (NYSE:QTWO) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research report issued on Tuesday, 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. “

A number of other research analysts have also recently issued reports on the stock. Roth Capital raised shares of Q2 from a “neutral” rating to a “buy” rating in a research report on Monday, November 11th. Royal Bank of Canada lifted their target price on shares of Q2 from $79.00 to $94.00 and gave the stock an “outperform” rating in a report on Thursday, August 8th. KeyCorp decreased their target price on shares of Q2 from $102.00 to $97.00 and set an “overweight” rating for the company in a report on Friday, November 8th. Morgan Stanley reaffirmed an “overweight” rating and issued a $90.00 target price on shares of Q2 in a report on Monday, October 28th. Finally, Compass Point initiated coverage on shares of Q2 in a report on Tuesday, August 13th. They issued a “buy” rating and a $105.00 target price for the company. Two research analysts have rated the stock with a sell rating, one has given a hold rating and eighteen have given a buy rating to the company. The stock currently has an average rating of “Buy” and an average price target of $85.46.

NYSE QTWO traded up $0.21 during trading hours on Tuesday, reaching $78.27. 2,121 shares of the company’s stock traded hands, compared to its average volume of 552,539. Q2 has a 52-week low of $43.41 and a 52-week high of $93.63. The firm has a market cap of $3.78 billion, a PE ratio of -211.32 and a beta of 1.24. The firm has a 50-day simple moving average of $73.45 and a 200 day simple moving average of $77.70. The company has a debt-to-equity ratio of 1.18, a current ratio of 5.93 and a quick ratio of 5.93.

Q2 (NYSE:QTWO) last issued its quarterly earnings results on Wednesday, November 6th. The technology company reported $0.05 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.17) by $0.22. Q2 had a negative net margin of 22.67% and a negative return on equity of 12.11%. The company had revenue of $79.70 million during the quarter, compared to analysts’ expectations of $79.26 million. During the same period last year, the company posted $0.09 EPS. Q2’s revenue was up 31.6% on a year-over-year basis. Sell-side analysts forecast that Q2 will post -0.72 EPS for the current fiscal year.

In related news, CEO Matthew P. Flake sold 25,000 shares of the business’s stock in a transaction that occurred on Thursday, October 31st. The shares were sold at an average price of $71.02, for a total transaction of $1,775,500.00. Following the completion of the sale, the chief executive officer now directly owns 323,999 shares in the company, valued at $23,010,408.98. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CTO Adam D. Blue sold 10,000 shares of the business’s stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $88.65, for a total transaction of $886,500.00. Following the sale, the chief technology officer now owns 78,866 shares of the company’s stock, valued at $6,991,470.90. The disclosure for this sale can be found here. Insiders sold 275,326 shares of company stock valued at $21,984,172 over the last quarter. Company insiders own 12.80% of the company’s stock.

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. BBVA USA Bancshares Inc. bought a new stake in Q2 during the third quarter valued at approximately $497,000. SG Americas Securities LLC boosted its position in shares of Q2 by 173.6% in the third quarter. SG Americas Securities LLC now owns 45,441 shares of the technology company’s stock worth $3,584,000 after purchasing an additional 28,835 shares during the period. Russell Investments Group Ltd. boosted its position in shares of Q2 by 213.9% in the third quarter. Russell Investments Group Ltd. now owns 5,095 shares of the technology company’s stock worth $402,000 after purchasing an additional 3,472 shares during the period. Mizuho Securities USA LLC bought a new position in shares of Q2 in the third quarter worth approximately $592,000. Finally, California Public Employees Retirement System boosted its position in shares of Q2 by 54.7% in the third quarter. California Public Employees Retirement System now owns 94,115 shares of the technology company’s stock worth $7,423,000 after purchasing an additional 33,285 shares during the period.

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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