Q2 (NYSE:QTWO) Upgraded to Hold at Zacks Investment Research

Zacks Investment Research upgraded shares of Q2 (NYSE:QTWO) from a sell rating to a hold rating in a research report sent to investors on Tuesday, 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. “

Several other equities research analysts also recently issued reports on the company. Compass Point began coverage on Q2 in a report on Tuesday, August 13th. They issued a buy rating and a $105.00 price target for the company. Needham & Company LLC reiterated a buy rating and issued a $100.00 price objective on shares of Q2 in a research report on Wednesday, October 2nd. SunTrust Banks raised their target price on shares of Q2 from $84.00 to $100.00 and gave the stock a buy rating in a report on Friday, August 9th. ValuEngine lowered shares of Q2 from a buy rating to a hold rating in a research note on Tuesday. Finally, Morgan Stanley reissued an overweight rating and issued a $90.00 target price on shares of Q2 in a research report on Monday, October 28th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and seventeen have given a buy rating to the stock. Q2 presently has an average rating of Buy and a consensus price target of $85.46.

Q2 stock opened at $82.75 on Tuesday. The company has a market cap of $4.07 billion, a PE ratio of -223.65 and a beta of 1.24. The company has a current ratio of 5.93, a quick ratio of 5.93 and a debt-to-equity ratio of 1.18. Q2 has a 1 year low of $43.41 and a 1 year high of $93.63. The company’s 50-day moving average is $75.70 and its two-hundred day moving average is $78.49.

Q2 (NYSE:QTWO) last released its earnings results on Wednesday, November 6th. The technology company reported $0.05 EPS for the quarter, topping analysts’ consensus estimates of ($0.17) by $0.22. The firm had revenue of $79.70 million during the quarter, compared to analyst estimates of $79.26 million. Q2 had a negative net margin of 22.67% and a negative return on equity of 12.11%. The business’s quarterly revenue was up 31.6% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.09 EPS. Research analysts forecast that Q2 will post -0.72 EPS for the current year.

In related news, Director R. H. Seale sold 124,076 shares of the business’s stock in a transaction that occurred on Tuesday, October 1st. The stock was sold at an average price of $76.14, for a total value of $9,447,146.64. Following the completion of the sale, the director now directly owns 384,817 shares in the company, valued at $29,299,966.38. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CTO Adam D. Blue sold 10,000 shares of the business’s stock in a transaction that occurred on Monday, December 2nd. The shares were sold at an average price of $83.13, for a total value of $831,300.00. Following the completion of the sale, the chief technology officer now owns 78,866 shares of the company’s stock, valued at $6,556,130.58. The disclosure for this sale can be found here. Insiders have sold 254,556 shares of company stock valued at $19,805,325 in the last three months. Insiders own 12.80% of the company’s stock.

A number of hedge funds have recently bought and sold shares of the stock. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. acquired a new stake in Q2 during the second quarter worth about $42,000. Steelhead Partners LLC bought a new position in Q2 in the 2nd quarter valued at about $137,000. Zurcher Kantonalbank Zurich Cantonalbank raised its position in shares of Q2 by 11.8% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,515 shares of the technology company’s stock valued at $198,000 after buying an additional 265 shares in the last quarter. Ladenburg Thalmann Financial Services Inc. raised its position in shares of Q2 by 6.5% in the 2nd quarter. Ladenburg Thalmann Financial Services Inc. now owns 2,817 shares of the technology company’s stock valued at $217,000 after buying an additional 173 shares in the last quarter. Finally, Essex Investment Management Co. LLC bought a new stake in shares of Q2 during the 3rd quarter worth approximately $228,000.

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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