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

Canaccord Genuity upgraded shares of Q2 (NYSE:QTWO) from a hold rating to a buy rating in a research report report published on Thursday morning, BenzingaRatingsTable reports. They currently have $97.00 price objective on the technology company’s stock, up from their prior price objective of $70.00.

A number of other research analysts also recently weighed in on the company. Stifel Nicolaus increased their target price on Q2 from $74.00 to $82.00 and gave the company a buy rating in a report on Thursday, August 8th. SunTrust Banks increased their target price on Q2 from $84.00 to $100.00 and gave the company a buy rating in a report on Friday, August 9th. JPMorgan Chase & Co. increased their target price on Q2 from $78.00 to $90.00 and gave the company an overweight rating in a report on Thursday, August 8th. Compass Point assumed coverage on Q2 in a report on Tuesday, August 13th. They issued a buy rating and a $105.00 target price on the stock. Finally, BTIG Research reissued a hold rating on shares of Q2 in a report on Sunday, August 11th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and thirteen have assigned a buy rating to the stock. The stock presently has a consensus rating of Buy and a consensus target price of $80.93.

Shares of NYSE:QTWO opened at $79.94 on Thursday. The company has a market cap of $3.88 billion, a P/E ratio of -216.05 and a beta of 1.31. The company has a debt-to-equity ratio of 1.14, a current ratio of 6.72 and a quick ratio of 6.72. Q2 has a 1 year low of $43.41 and a 1 year high of $93.63. The stock’s fifty day moving average price is $85.52 and its 200-day moving average price is $75.82.

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

In other Q2 news, CTO Adam D. Blue sold 10,000 shares of the firm’s stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $88.65, for a total transaction of $886,500.00. Following the completion of the transaction, the chief technology officer now owns 78,866 shares in the company, valued at approximately $6,991,470.90. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Jennifer Noel Harris sold 15,000 shares of the firm’s stock in a transaction that occurred on Tuesday, September 10th. The shares were sold at an average price of $80.92, for a total value of $1,213,800.00. Following the transaction, the chief financial officer now owns 129,865 shares of the company’s stock, valued at approximately $10,508,675.80. The disclosure for this sale can be found here. Insiders have sold 362,487 shares of company stock valued at $29,069,103 in the last quarter. 12.80% of the stock is currently owned by company insiders.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in QTWO. Brown Capital Management LLC grew its holdings in Q2 by 26.2% during the 2nd quarter. Brown Capital Management LLC now owns 4,003,706 shares of the technology company’s stock valued at $305,723,000 after buying an additional 832,296 shares in the last quarter. Vanguard Group Inc. grew its holdings in Q2 by 10.2% during the 2nd quarter. Vanguard Group Inc. now owns 3,943,505 shares of the technology company’s stock valued at $301,125,000 after buying an additional 363,780 shares in the last quarter. Waddell & Reed Financial Inc. grew its holdings in Q2 by 27.4% during the 2nd quarter. Waddell & Reed Financial Inc. now owns 1,376,062 shares of the technology company’s stock valued at $105,076,000 after buying an additional 295,811 shares in the last quarter. Wasatch Advisors Inc. grew its holdings in Q2 by 39.2% during the 1st quarter. Wasatch Advisors Inc. now owns 1,043,133 shares of the technology company’s stock valued at $72,247,000 after buying an additional 293,892 shares in the last quarter. Finally, First Trust Advisors LP grew its holdings in Q2 by 480.8% during the 2nd quarter. First Trust Advisors LP now owns 306,783 shares of the technology company’s stock valued at $23,426,000 after buying an additional 253,966 shares in the last quarter.

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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