Q2 Holdings, Inc. (QTWO) Receives Outperform Rating from Royal Bank Of Canada
Q2 Holdings, Inc. (NYSE:QTWO)‘s stock had its “outperform” rating restated by stock analysts at Royal Bank Of Canada in a research note issued to investors on Friday. They presently have a $48.00 target price on the technology company’s stock, up from their prior target price of $43.00. Royal Bank Of Canada’s price objective points to a potential upside of 14.97% from the company’s current price.
Several other equities research analysts have also weighed in on the stock. Loop Capital increased their target price on shares of Q2 Holdings to $49.00 and gave the stock a “positive” rating in a report on Friday. Canaccord Genuity lowered shares of Q2 Holdings from a “buy” rating to a “hold” rating in a report on Thursday. BidaskClub downgraded shares of Q2 Holdings from a “buy” rating to a “hold” rating in a research report on Monday, October 23rd. Zacks Investment Research raised shares of Q2 Holdings from a “sell” rating to a “hold” rating in a research report on Tuesday, October 10th. Finally, KeyCorp reissued a “hold” rating on shares of Q2 Holdings in a research report on Wednesday, September 13th. Five analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. The stock currently has an average rating of “Buy” and a consensus price target of $45.38.
Q2 Holdings (NYSE:QTWO) last posted its earnings results on Wednesday, November 1st. The technology company reported $0.03 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.02) by $0.05. The company had revenue of $50.10 million for the quarter, compared to analyst estimates of $50.05 million. Q2 Holdings had a negative net margin of 15.27% and a negative return on equity of 20.62%. The business’s revenue for the quarter was up 30.8% compared to the same quarter last year. During the same period last year, the business posted ($0.24) earnings per share.
In related news, SVP Barry G. Benton sold 1,500 shares of the firm’s stock in a transaction on 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 of the company’s stock, valued at $896,968.53. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, insider Adam D. Blue sold 35,000 shares of Q2 Holdings stock in a transaction dated Friday, September 1st. The shares were sold at an average price of $39.67, for a total transaction of $1,388,450.00. Following the completion of the transaction, the insider now directly owns 75,805 shares of the company’s stock, valued at approximately $3,007,184.35. The disclosure for this sale can be found here. Insiders have sold 231,908 shares of company stock valued at $9,390,327 in the last three months. 24.50% of the stock is owned by insiders.
Several institutional investors and hedge funds have recently made changes to their positions in the company. Emerald Mutual Fund Advisers Trust grew its position in shares of Q2 Holdings by 371.8% in the 3rd quarter. Emerald Mutual Fund Advisers Trust now owns 305,361 shares of the technology company’s stock valued at $12,718,000 after acquiring an additional 240,645 shares during the period. Emerald Advisers Inc. PA bought a new position in shares of Q2 Holdings in the 3rd quarter valued at about $15,520,000. Robeco Institutional Asset Management B.V. grew its position in shares of Q2 Holdings by 25.0% in the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 75,000 shares of the technology company’s stock valued at $3,124,000 after acquiring an additional 15,000 shares during the period. Mutual of America Capital Management LLC bought a new position in shares of Q2 Holdings in the 3rd quarter valued at about $2,439,000. Finally, Dynamic Technology Lab Private Ltd bought a new position in shares of Q2 Holdings in the 2nd quarter valued at about $542,000. 92.64% of the stock is owned by institutional investors.
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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