BTIG Research Reaffirms “Buy” Rating for Q2 Holdings, Inc. (QTWO)
BTIG Research reissued their buy rating on shares of Q2 Holdings, Inc. (NYSE:QTWO) in a research note released on Sunday morning. They currently have a $47.00 target price on the technology company’s stock.
QTWO has been the topic of a number of other reports. SunTrust Banks, Inc. reaffirmed a buy rating on shares of Q2 Holdings in a research note on Friday, November 3rd. Needham & Company LLC restated a buy rating and set a $48.00 price objective on shares of Q2 Holdings in a report on Friday, November 3rd. Morgan Stanley boosted their price objective on Q2 Holdings from $40.00 to $44.00 and gave the company an equal weight rating in a report on Friday, November 3rd. Royal Bank Of Canada restated an outperform rating and set a $48.00 price objective (up previously from $43.00) on shares of Q2 Holdings in a report on Friday, November 3rd. Finally, Loop Capital boosted their price objective on Q2 Holdings from $42.00 to $49.00 and gave the company a positive rating in a report on Friday, November 3rd. Six analysts have rated the stock with a hold rating and six have given a buy rating to the stock. The stock currently has a consensus rating of Buy and an average price target of $45.67.
Shares of Q2 Holdings (NYSE QTWO) opened at $42.00 on Friday. Q2 Holdings has a 52 week low of $27.80 and a 52 week high of $43.65.
Q2 Holdings (NYSE:QTWO) last posted its earnings results on Wednesday, November 1st. The technology company reported $0.03 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.02) by $0.05. The business had revenue of $50.10 million during the quarter, compared to analysts’ expectations of $50.05 million. Q2 Holdings had a negative return on equity of 20.50% and a negative net margin of 15.27%. Q2 Holdings’s revenue for the quarter was up 30.8% compared to the same quarter last year. During the same period in the prior year, the business earned ($0.24) EPS. research analysts forecast that Q2 Holdings will post -0.54 earnings per share for the current fiscal year.
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In related news, EVP John E. Breeden sold 10,000 shares of Q2 Holdings stock in a transaction on Wednesday, August 23rd. The stock was sold at an average price of $39.42, for a total transaction of $394,200.00. Following the transaction, the executive vice president now directly owns 64,694 shares in the company, valued at $2,550,237.48. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Barry G. Benton sold 1,500 shares of the business’s stock in a transaction dated Monday, August 14th. The shares were sold at an average price of $38.19, for a total value of $57,285.00. Following the completion of the transaction, the senior vice president now owns 23,487 shares in the company, valued at $896,968.53. The disclosure for this sale can be found here. Insiders sold 227,825 shares of company stock valued at $9,237,255 in the last ninety days. 24.50% of the stock is currently owned by corporate insiders.
Several large investors have recently bought and sold shares of QTWO. Franklin Resources Inc. increased its stake in Q2 Holdings by 55.6% during the second quarter. Franklin Resources Inc. now owns 1,502,687 shares of the technology company’s stock worth $55,523,000 after acquiring an additional 536,772 shares during the last quarter. Emerald Advisers Inc. PA bought a new stake in Q2 Holdings during the third quarter worth approximately $15,520,000. Penn Capital Management Co. Inc. increased its stake in Q2 Holdings by 3,059.9% during the second quarter. Penn Capital Management Co. Inc. now owns 303,822 shares of the technology company’s stock worth $11,243,000 after acquiring an additional 294,207 shares during the last quarter. Emerald Mutual Fund Advisers Trust increased its stake in Q2 Holdings by 371.8% during the third quarter. Emerald Mutual Fund Advisers Trust now owns 305,361 shares of the technology company’s stock worth $12,718,000 after acquiring an additional 240,645 shares during the last quarter. Finally, JPMorgan Chase & Co. increased its stake in Q2 Holdings by 6.9% during the second quarter. JPMorgan Chase & Co. now owns 2,943,396 shares of the technology company’s stock worth $108,759,000 after acquiring an additional 190,171 shares during the last quarter. Institutional investors own 94.11% of the company’s stock.
Q2 Holdings Company Profile
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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