Q2 Holdings Inc. (QTWO) Lifted to Hold at Zacks Investment Research
Q2 Holdings Inc. (NYSE:QTWO) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research note issued 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. “
Other analysts have also recently issued reports about the stock. Royal Bank Of Canada increased their price objective on shares of Q2 Holdings from $27.00 to $31.00 and gave the stock an “outperform” rating in a research note on Friday, August 5th. BTIG Research reissued a “buy” rating and issued a $32.00 price objective on shares of Q2 Holdings in a research note on Thursday, August 4th. RBC Capital Markets reissued an “outperform” rating and issued a $31.00 price objective (up from $27.00) on shares of Q2 Holdings in a research note on Friday, August 5th. Needham & Company LLC reissued a “buy” rating and issued a $34.00 price objective on shares of Q2 Holdings in a research note on Monday, August 29th. Finally, Morgan Stanley assumed coverage on shares of Q2 Holdings in a research note on Monday, July 25th. They issued an “equal weight” rating and a $29.00 price objective for the company. Two equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. The company has an average rating of “Buy” and a consensus price target of $30.50.
Shares of Q2 Holdings (NYSE:QTWO) traded down 0.31% during trading on Wednesday, reaching $29.00. 11,335 shares of the company were exchanged. Q2 Holdings has a 1-year low of $16.43 and a 1-year high of $30.73. The stock’s 50 day moving average is $28.28 and its 200 day moving average is $26.38. The company’s market capitalization is $1.15 billion.
Q2 Holdings (NYSE:QTWO) last announced its quarterly earnings data 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. The firm earned $36 million during the quarter, compared to analysts’ expectations of $35.66 million. Q2 Holdings had a negative return on equity of 22.39% and a negative net margin of 27.14%. Q2 Holdings’s revenue was up 36.9% compared to the same quarter last year. Equities analysts anticipate that Q2 Holdings will post ($0.35) earnings per share for the current year.
In other Q2 Holdings news, EVP John E. Breeden sold 5,000 shares of the stock in a transaction on Thursday, August 11th. The shares were sold at an average price of $25.76, for a total transaction of $128,800.00. Following the completion of the transaction, the executive vice president now owns 43,470 shares in the company, valued at $1,119,787.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Sherri Manning sold 10,000 shares of the stock in a transaction on Tuesday, July 26th. The shares were sold at an average price of $29.00, for a total transaction of $290,000.00. Following the transaction, the senior vice president now owns 21,700 shares of the company’s stock, valued at approximately $629,300. The disclosure for this sale can be found here. Company insiders own 38.10% of the company’s stock.
A number of institutional investors have recently added to or reduced their stakes in QTWO. Macquarie Group Ltd. raised its position in Q2 Holdings by 8.0% in the second quarter. Macquarie Group Ltd. now owns 262,017 shares of the company’s stock valued at $7,342,000 after buying an additional 19,508 shares during the period. Schwab Charles Investment Management Inc. raised its stake in Q2 Holdings by 13.3% in the second quarter. Schwab Charles Investment Management Inc. now owns 81,703 shares of the company’s stock valued at $2,290,000 after buying an additional 9,578 shares during the period. Metropolitan Life Insurance Co. NY raised its stake in Q2 Holdings by 29.9% in the second quarter. Metropolitan Life Insurance Co. NY now owns 18,471 shares of the company’s stock valued at $518,000 after buying an additional 4,249 shares during the period. Diker Management LLC purchased a new stake in Q2 Holdings during the second quarter valued at about $2,945,000. Finally, 1832 Asset Management L.P. purchased a new stake in Q2 Holdings during the second quarter valued at about $739,000. Institutional investors and hedge funds own 89.16% of the company’s stock.
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.
Receive News & Stock Ratings for Q2 Holdings Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Q2 Holdings Inc. and related stocks with our FREE daily email newsletter.