Q2 (NYSE:QTWO) Lifted to “Buy” at Canaccord Genuity

Q2 (NYSE:QTWO) was upgraded by investment analysts at Canaccord Genuity from a “hold” rating to a “buy” rating in a report issued on Thursday, Briefing.com Automated Import reports.

Several other brokerages have also recently weighed in on QTWO. Compass Point began coverage on Q2 in a research report on Tuesday, August 13th. They set a “buy” rating and a $105.00 price target on the stock. SunTrust Banks upped their price objective on shares of Q2 from $84.00 to $100.00 and gave the stock a “buy” rating in a research report on Friday, August 9th. Royal Bank of Canada upped their price objective on shares of Q2 from $79.00 to $94.00 and gave the stock an “outperform” rating in a research report on Thursday, August 8th. Stifel Nicolaus increased their price target on shares of Q2 from $74.00 to $82.00 and gave the company a “buy” rating in a research report on Thursday, August 8th. Finally, JPMorgan Chase & Co. increased their price target on shares of Q2 from $78.00 to $90.00 and gave the company an “overweight” rating in a research report on Thursday, August 8th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and thirteen have assigned a buy rating to the stock. Q2 currently has a consensus rating of “Buy” and a consensus target price of $79.98.

Shares of QTWO opened at $80.20 on Thursday. The business’s 50-day moving average price is $85.51 and its 200-day moving average price is $75.76. Q2 has a twelve month low of $43.41 and a twelve month high of $93.63. The stock has a market cap of $3.89 billion, a PE ratio of -216.76 and a beta of 1.31. The company has a quick ratio of 6.72, a current ratio of 6.72 and a debt-to-equity ratio of 1.14.

Q2 (NYSE:QTWO) last announced its quarterly earnings results on Wednesday, August 7th. The technology company reported ($0.20) earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.21) by $0.01. Q2 had a negative return on equity of 13.40% and a negative net margin of 20.73%. The firm had revenue of $77.60 million for the quarter, compared to analysts’ expectations of $76.10 million. During the same period in the prior year, the business posted $0.01 earnings per share. The company’s revenue was up 32.0% on a year-over-year basis. Analysts expect that Q2 will post -0.66 earnings per share for the current fiscal year.

In other news, EVP Odus Edward Wittenburg, Jr. sold 21,250 shares of the stock in a transaction that occurred on Friday, August 23rd. The stock was sold at an average price of $90.10, for a total transaction of $1,914,625.00. Following the completion of the sale, the executive vice president now owns 84,923 shares of the company’s stock, valued at $7,651,562.30. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, EVP John E. Breeden sold 5,000 shares of the stock in a transaction that occurred on Friday, June 14th. The shares were sold at an average price of $75.50, for a total value of $377,500.00. Following the sale, the executive vice president now directly owns 65,838 shares of the company’s stock, valued at approximately $4,970,769. The disclosure for this sale can be found here. Insiders have sold 377,487 shares of company stock worth $30,215,403 over the last quarter. Company insiders own 12.80% of the company’s stock.

Several large investors have recently added to or reduced their stakes in QTWO. Brown Capital Management LLC boosted its stake in shares of Q2 by 26.2% during the second quarter. Brown Capital Management LLC now owns 4,003,706 shares of the technology company’s stock valued at $305,723,000 after purchasing an additional 832,296 shares during the period. Vanguard Group Inc. boosted its stake in shares of Q2 by 10.2% during the second quarter. Vanguard Group Inc. now owns 3,943,505 shares of the technology company’s stock valued at $301,125,000 after purchasing an additional 363,780 shares during the period. Waddell & Reed Financial Inc. boosted its stake in shares of Q2 by 27.4% during the second quarter. Waddell & Reed Financial Inc. now owns 1,376,062 shares of the technology company’s stock valued at $105,076,000 after purchasing an additional 295,811 shares during the period. Wasatch Advisors Inc. boosted its stake in shares of Q2 by 39.2% during the first quarter. Wasatch Advisors Inc. now owns 1,043,133 shares of the technology company’s stock valued at $72,247,000 after purchasing an additional 293,892 shares during the period. Finally, First Trust Advisors LP boosted its stake in shares of Q2 by 480.8% during the second quarter. First Trust Advisors LP now owns 306,783 shares of the technology company’s stock valued at $23,426,000 after purchasing an additional 253,966 shares during the period.

Q2 Company Profile

Q2 Holdings, Inc provides cloud-based digital banking solutions to regional and community financial institutions (RCFIs) in the United States. It offers Q2 Digital Banking and Transactions, a browser-based digital banking solution that delivers RCFI-branded digital banking capabilities; Q2mobility App, a mobile and tablet digital banking solution; Q2mobile Remote Deposit Capture, a partnered solution that allows remote check deposit capture; and Q2 Person-to-Person Payments, a partnered secure and integrated person-to-person payments solution.

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Analyst Recommendations for Q2 (NYSE:QTWO)

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