Q2 (NYSE:QTWO) Upgraded to “Hold” by Zacks Investment Research

Zacks Investment Research upgraded shares of Q2 (NYSE:QTWO) from a sell rating to a hold rating in a report issued on Saturday morning, Zacks.com reports.

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. “

Other equities analysts have also issued reports about the company. Stifel Nicolaus increased their price objective on Q2 from $74.00 to $82.00 and gave the stock a buy rating in a report on Thursday. SunTrust Banks increased their price objective on Q2 from $84.00 to $100.00 and gave the stock a buy rating in a report on Friday. Royal Bank of Canada increased their price objective on Q2 from $79.00 to $94.00 and gave the stock an outperform rating in a report on Thursday. KeyCorp increased their price objective on Q2 from $83.00 to $98.00 and gave the stock an overweight rating in a report on Friday. Finally, JPMorgan Chase & Co. increased their price objective on Q2 from $78.00 to $90.00 and gave the stock an overweight rating in a report on Thursday. One research analyst has rated the stock with a sell rating, four have given a hold rating and eleven have assigned a buy rating to the company’s stock. Q2 has an average rating of Buy and a consensus price target of $78.17.

QTWO stock traded up $1.05 on Friday, reaching $87.06. The company’s stock had a trading volume of 707,828 shares, compared to its average volume of 416,049. Q2 has a 52 week low of $43.41 and a 52 week high of $89.39. The company has a market capitalization of $3.80 billion, a P/E ratio of -235.30 and a beta of 1.38. The business has a fifty day simple moving average of $78.66. The company has a debt-to-equity ratio of 1.40, a current ratio of 2.08 and a quick ratio of 2.08.

Q2 (NYSE:QTWO) last issued its quarterly earnings data on Wednesday, August 7th. The technology company reported ($0.20) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.21) by $0.01. Q2 had a negative return on equity of 18.28% and a negative net margin of 20.73%. The business had revenue of $77.60 million during the quarter, compared to analyst estimates of $76.10 million. During the same period in the prior year, the company posted $0.01 EPS. The business’s revenue for the quarter was up 32.0% compared to the same quarter last year. Research analysts anticipate that Q2 will post -0.65 earnings per share for the current fiscal year.

In other news, Director James Offerdahl sold 2,000 shares of the firm’s stock in a transaction on Wednesday, May 22nd. The stock was sold at an average price of $73.40, for a total transaction of $146,800.00. Following the completion of the sale, the director now directly owns 6,433 shares of the company’s stock, valued at approximately $472,182.20. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, insider Matthew P. Flake sold 25,000 shares of the firm’s stock in a transaction on Wednesday, July 31st. The stock was sold at an average price of $80.52, for a total value of $2,013,000.00. Following the sale, the insider now directly owns 323,999 shares of the company’s stock, valued at $26,088,399.48. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 480,537 shares of company stock valued at $35,941,718. 12.80% of the stock is currently owned by corporate insiders.

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Charles Schwab Investment Management Inc. raised its holdings in shares of Q2 by 21.6% during the second quarter. Charles Schwab Investment Management Inc. now owns 258,270 shares of the technology company’s stock worth $19,722,000 after acquiring an additional 45,802 shares in the last quarter. Prescott Group Capital Management L.L.C. raised its holdings in shares of Q2 by 3.1% during the second quarter. Prescott Group Capital Management L.L.C. now owns 4,125 shares of the technology company’s stock worth $315,000 after acquiring an additional 125 shares in the last quarter. Atria Investments LLC purchased a new stake in shares of Q2 during the second quarter worth $398,000. Bank of Montreal Can raised its holdings in shares of Q2 by 37.6% during the second quarter. Bank of Montreal Can now owns 112,391 shares of the technology company’s stock worth $8,582,000 after acquiring an additional 30,707 shares in the last quarter. Finally, Carillon Tower Advisers Inc. purchased a new stake in shares of Q2 during the second quarter worth $13,363,000. 98.83% of the stock is owned by institutional investors and hedge funds.

About Q2

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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