Analysts at Wells Fargo & Co initiated coverage on shares of Q2 (NYSE:QTWO) in a report released on Thursday, February 8th, Marketbeat reports. The firm set an “outperform” rating and a $50.00 price target on the technology company’s stock. Wells Fargo & Co’s price target points to a potential upside of 11.61% from the company’s previous close.

A number of other brokerages have also weighed in on QTWO. DA Davidson assumed coverage on shares of Q2 in a report on Thursday, November 16th. They set a “neutral” rating and a $38.00 price objective for the company. BidaskClub upgraded shares of Q2 from a “hold” rating to a “buy” rating in a report on Tuesday, November 14th. BTIG Research reiterated a “buy” rating and set a $47.00 price objective on shares of Q2 in a report on Sunday, November 5th. SunTrust Banks restated a “buy” rating on shares of Q2 in a report on Friday, November 3rd. Finally, Needham & Company LLC restated a “buy” rating and issued a $48.00 price target on shares of Q2 in a report on Friday, November 3rd. Seven equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. The stock presently has an average rating of “Buy” and an average price target of $45.75.

Shares of Q2 (NYSE QTWO) traded up $1.05 on Thursday, reaching $44.80. 958,195 shares of the company were exchanged, compared to its average volume of 259,993. Q2 has a one year low of $31.92 and a one year high of $44.85.

Q2 (NYSE:QTWO) last announced its quarterly earnings data on Tuesday, February 13th. The technology company reported $0.05 earnings per share for the quarter, beating analysts’ consensus estimates of $0.01 by $0.04. Q2 had a negative net margin of 15.27% and a negative return on equity of 20.50%. The company had revenue of $51.70 million during the quarter, compared to analyst estimates of $51.70 million. During the same quarter last year, the business posted ($0.03) EPS. The firm’s revenue for the quarter was up 22.5% on a year-over-year basis. equities analysts forecast that Q2 will post -0.48 earnings per share for the current fiscal year.

In other news, CFO Jennifer Noel Harris sold 10,000 shares of Q2 stock in a transaction that occurred on Friday, December 1st. The shares were sold at an average price of $40.49, for a total value of $404,900.00. Following the transaction, the chief financial officer now owns 74,575 shares of the company’s stock, valued at approximately $3,019,541.75. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider William M. Furrer sold 8,000 shares of Q2 stock in a transaction that occurred on Tuesday, January 2nd. The stock was sold at an average price of $37.69, for a total transaction of $301,520.00. Following the completion of the transaction, the insider now directly owns 43,614 shares in the company, valued at approximately $1,643,811.66. The disclosure for this sale can be found here. In the last ninety days, insiders sold 120,011 shares of company stock worth $4,697,005. Insiders own 24.50% of the company’s stock.

Several institutional investors have recently modified their holdings of the company. Ameritas Investment Partners Inc. grew its position in Q2 by 38.1% during the 2nd quarter. Ameritas Investment Partners Inc. now owns 2,751 shares of the technology company’s stock worth $102,000 after purchasing an additional 759 shares during the last quarter. Los Angeles Capital Management & Equity Research Inc. purchased a new stake in Q2 during the 3rd quarter worth approximately $217,000. Jefferies Group LLC purchased a new stake in Q2 during the 4th quarter worth approximately $201,000. Virtu Financial LLC purchased a new stake in Q2 during the 4th quarter worth approximately $205,000. Finally, GSA Capital Partners LLP purchased a new stake in Q2 during the 2nd quarter worth approximately $207,000. 90.75% of the stock is currently owned by hedge funds and other institutional investors.

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About Q2

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.

Analyst Recommendations for Q2 (NYSE:QTWO)

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