Needham & Company LLC Reaffirms Buy Rating for Q2 Holdings, Inc. (QTWO)
Q2 Holdings, Inc. (NYSE:QTWO)‘s stock had its “buy” rating reaffirmed by equities researchers at Needham & Company LLC in a research note issued on Friday. They presently have a $48.00 price target on the technology company’s stock. Needham & Company LLC’s target price would indicate a potential upside of 12.28% from the company’s previous close.
QTWO has been the subject of a number of other reports. Loop Capital upped their price objective on shares of Q2 Holdings from $42.00 to $49.00 and gave the company a “positive” rating in a research note on Friday. Zacks Investment Research raised shares of Q2 Holdings from a “hold” rating to a “buy” rating and set a $42.00 price target for the company in a research report on Wednesday, August 9th. Canaccord Genuity reissued a “hold” rating and issued a $43.00 price target on shares of Q2 Holdings in a research report on Monday. Royal Bank Of Canada reissued an “outperform” rating and issued a $48.00 price target (up from $43.00) on shares of Q2 Holdings in a research report on Friday. Finally, BidaskClub lowered shares of Q2 Holdings from a “buy” rating to a “hold” rating in a research report on Monday, October 9th. Six analysts have rated the stock with a hold rating and six have given a buy rating to the company. Q2 Holdings has a consensus rating of “Buy” and a consensus price target of $45.67.
Q2 Holdings (NYSE:QTWO) traded up $0.85 during trading on Friday, hitting $42.75. 441,176 shares of the stock traded hands, compared to its average volume of 171,407.
Q2 Holdings (NYSE:QTWO) last posted its quarterly earnings data on Wednesday, November 1st. The technology company reported $0.03 EPS for the quarter, beating analysts’ consensus estimates of ($0.02) by $0.05. Q2 Holdings had a negative net margin of 15.27% and a negative return on equity of 20.62%. The company had revenue of $50.10 million during the quarter, compared to analyst estimates of $50.05 million. During the same period in the prior year, the firm earned ($0.24) earnings per share. The business’s quarterly revenue was up 30.8% on a year-over-year basis. equities analysts predict that Q2 Holdings will post -0.54 earnings per share for the current fiscal year.
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In related news, Director R. H. Seale sold 25,000 shares of the firm’s stock in a transaction that occurred on Tuesday, October 3rd. The shares were sold at an average price of $41.27, for a total transaction of $1,031,750.00. Following the transaction, the director now owns 383,828 shares of the company’s stock, valued at $15,840,581.56. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director R. H. Seale sold 45,000 shares of the firm’s stock in a transaction that occurred on Monday, October 2nd. The shares were sold at an average price of $41.95, for a total transaction of $1,887,750.00. Following the transaction, the director now directly owns 383,828 shares in the company, valued at approximately $16,101,584.60. The disclosure for this sale can be found here. Insiders sold 231,908 shares of company stock valued at $9,390,327 over the last three months. 24.50% of the stock is owned by insiders.
Institutional investors and hedge funds have recently modified their holdings of the stock. Dubuque Bank & Trust Co. bought a new position in Q2 Holdings during the second quarter valued at approximately $102,000. Ameritas Investment Partners Inc. raised its position in Q2 Holdings by 38.1% during the second quarter. Ameritas Investment Partners Inc. now owns 2,751 shares of the technology company’s stock valued at $102,000 after acquiring an additional 759 shares in the last quarter. SG Americas Securities LLC bought a new position in Q2 Holdings during the first quarter valued at approximately $109,000. Oppenheimer Asset Management Inc. raised its position in Q2 Holdings by 16,455.6% during the second quarter. Oppenheimer Asset Management Inc. now owns 2,980 shares of the technology company’s stock valued at $110,000 after acquiring an additional 2,962 shares in the last quarter. Finally, Pacad Investment Ltd. bought a new position in Q2 Holdings during the second quarter valued at approximately $111,000. 92.64% of the stock is currently owned by hedge funds and other institutional investors.
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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