Q2 Holdings Inc (QTWO) Rating Reiterated by Needham & Company LLC
Q2 Holdings Inc (NYSE:QTWO)‘s stock had its “buy” rating reiterated by research analysts at Needham & Company LLC in a report released on Friday, May 5th. They presently have a $44.00 target price on the technology company’s stock, up from their prior target price of $42.00. Needham & Company LLC’s price objective indicates a potential upside of 15.03% from the stock’s previous close.
A number of other research firms also recently weighed in on QTWO. BTIG Research raised shares of Q2 Holdings from a “neutral” rating to a “buy” rating and set a $47.00 target price on the stock in a research report on Friday, May 5th. Craig Hallum set a $45.00 price objective on shares of Q2 Holdings and gave the company a “buy” rating in a research report on Friday, February 17th. Canaccord Genuity reissued a “buy” rating and set a $43.00 price objective on shares of Q2 Holdings in a research report on Friday, May 5th. Royal Bank of Canada restated a “buy” rating and set a $35.00 target price on shares of Q2 Holdings in a research note on Wednesday, February 15th. Finally, Zacks Investment Research cut shares of Q2 Holdings from a “hold” rating to a “sell” rating in a research note on Thursday, February 23rd. One investment analyst has rated the stock with a sell rating, one has given a hold rating and six have assigned a buy rating to the company. The stock presently has an average rating of “Buy” and a consensus price target of $39.86.
Q2 Holdings (NYSE:QTWO) traded up 2.35% during mid-day trading on Friday, reaching $39.15. 55,443 shares of the company’s stock were exchanged. Q2 Holdings has a 12 month low of $22.15 and a 12 month high of $39.70. The stock has a 50-day moving average of $37.32 and a 200-day moving average of $33.30. The firm’s market cap is $1.60 billion.
Q2 Holdings (NYSE:QTWO) last issued its quarterly earnings data on Wednesday, May 3rd. The technology company reported ($0.13) earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($0.16) by $0.03. The business had revenue of $44.50 million for the quarter, compared to the consensus estimate of $44.37 million. Q2 Holdings had a negative net margin of 26.91% and a negative return on equity of 24.27%. The company’s quarterly revenue was up 31.7% compared to the same quarter last year. During the same period in the previous year, the firm earned ($271.00) EPS. Analysts anticipate that Q2 Holdings will post ($0.11) earnings per share for the current year.
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In related news, insider Adam D. Anderson sold 25,000 shares of the firm’s stock in a transaction on Thursday, March 2nd. The stock was sold at an average price of $35.69, for a total value of $892,250.00. Following the completion of the sale, the insider now directly owns 53,305 shares in the company, valued at $1,902,455.45. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Adam D. Anderson sold 43,952 shares of Q2 Holdings stock in a transaction on Tuesday, May 2nd. The stock was sold at an average price of $38.38, for a total value of $1,686,877.76. Following the sale, the insider now owns 65,805 shares of the company’s stock, valued at $2,525,595.90. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 951,612 shares of company stock valued at $33,660,920. 38.10% of the stock is owned by corporate insiders.
Institutional investors have recently bought and sold shares of the stock. Wells Fargo & Company MN raised its position in Q2 Holdings by 85.0% in the third quarter. Wells Fargo & Company MN now owns 3,258,617 shares of the technology company’s stock valued at $93,392,000 after buying an additional 1,497,182 shares during the period. Gilder Gagnon Howe & Co. LLC raised its stake in shares of Q2 Holdings by 91.0% in the third quarter. Gilder Gagnon Howe & Co. LLC now owns 1,537,661 shares of the technology company’s stock worth $44,069,000 after buying an additional 732,413 shares during the last quarter. Columbia Wanger Asset Management LLC raised its stake in shares of Q2 Holdings by 241.4% in the first quarter. Columbia Wanger Asset Management LLC now owns 1,005,436 shares of the technology company’s stock worth $35,039,000 after buying an additional 710,954 shares during the last quarter. OppenheimerFunds Inc. acquired a new stake in shares of Q2 Holdings during the first quarter worth $21,406,000. Finally, Franklin Resources Inc. raised its stake in shares of Q2 Holdings by 180.9% in the fourth quarter. Franklin Resources Inc. now owns 800,686 shares of the technology company’s stock worth $23,100,000 after buying an additional 515,629 shares during the last quarter. Institutional investors own 93.68% of the company’s stock.
About Q2 Holdings
Q2 Holdings, Inc is a provider of cloud-based digital banking solutions. The Company enables regional and community financial institutions (RCFIs), to deliver a suite of integrated digital banking services. The Company’s solutions all operate on a common platform that supports the delivery of unified digital banking services across online, mobile and voice channels.
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