Q2 Holdings Inc. (QTWO) Upgraded by Zacks Investment Research to “Hold”
Q2 Holdings Inc. (NYSE:QTWO) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a report 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. “
Several other analysts also recently weighed in on QTWO. BTIG Research restated a “buy” rating and set a $32.00 target price on shares of Q2 Holdings in a research note on Thursday, August 4th. Needham & Company LLC restated a “buy” rating and set a $34.00 target price on shares of Q2 Holdings in a research note on Monday, August 29th. Morgan Stanley assumed coverage on Q2 Holdings in a research note on Monday, July 25th. They set an “equal weight” rating and a $29.00 target price for the company. Royal Bank Of Canada raised their target price on Q2 Holdings from $27.00 to $31.00 and gave the company an “outperform” rating in a research note on Friday, August 5th. Finally, RBC Capital Markets restated an “outperform” rating and set a $31.00 target price (up from $27.00) on shares of Q2 Holdings in a research note on Friday, August 5th. Two equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. The company presently has an average rating of “Buy” and an average price target of $30.50.
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Q2 Holdings (NYSE:QTWO) traded down 0.32% during mid-day trading on Wednesday, hitting $28.37. The stock had a trading volume of 120,532 shares. The company has a 50-day moving average of $28.44 and a 200-day moving average of $26.46. The firm’s market cap is $1.13 billion. Q2 Holdings has a 12-month low of $16.43 and a 12-month high of $30.73.
Q2 Holdings (NYSE:QTWO) last released its quarterly earnings data on Wednesday, August 3rd. The company reported ($0.25) EPS for the quarter, missing analysts’ consensus estimates of ($0.12) by $0.13. The firm had revenue of $36 million for the quarter, compared to analyst estimates of $35.66 million. Q2 Holdings had a negative return on equity of 22.39% and a negative net margin of 27.14%. The business’s revenue for the quarter was up 36.9% on a year-over-year basis. Analysts expect that Q2 Holdings will post ($0.35) earnings per share for the current year.
In other Q2 Holdings news, Director R. H. Seale sold 82,000 shares of the firm’s stock in a transaction that occurred on Friday, October 7th. The shares were sold at an average price of $28.50, for a total value of $2,337,000.00. Following the sale, the director now owns 379,798 shares in the company, valued at $10,824,243. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP John E. Breeden sold 5,000 shares of the firm’s stock in a transaction that occurred 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 sale, the executive vice president now owns 43,470 shares in the company, valued at approximately $1,119,787.20. The disclosure for this sale can be found here. 38.10% of the stock is currently owned by company insiders.
Several large investors have recently made changes to their positions 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 worth $7,342,000 after buying an additional 19,508 shares in the last quarter. Schwab Charles Investment Management Inc. raised its position 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 worth $2,290,000 after buying an additional 9,578 shares in the last quarter. Metropolitan Life Insurance Co. NY raised its position 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 worth $518,000 after buying an additional 4,249 shares in the last quarter. Diker Management LLC bought a new position in Q2 Holdings during the second quarter worth approximately $2,945,000. Finally, 1832 Asset Management L.P. bought a new position in Q2 Holdings during the second quarter worth approximately $739,000. Institutional investors 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.
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