Canaccord Genuity upgraded shares of Q2 (NYSE:QTWO) from a hold rating to a buy rating in a research report released on Thursday morning, BenzingaRatingsTable reports. They currently have $97.00 target price on the technology company’s stock, up from their prior target price of $70.00.
QTWO has been the subject of a number of other reports. BTIG Research restated a hold rating on shares of Q2 in a research report on Sunday, August 11th. Compass Point began coverage on shares of Q2 in a research report on Tuesday, August 13th. They set a buy rating and a $105.00 target price for the company. Stifel Nicolaus boosted their target price 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. SunTrust Banks boosted their target price on shares of Q2 from $84.00 to $100.00 and gave the company a buy rating in a research report on Friday, August 9th. Finally, Zacks Investment Research upgraded shares of Q2 from a sell rating to a hold rating in a research report on Saturday, August 10th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and thirteen have given a buy rating to the company’s stock. Q2 currently has a consensus rating of Buy and a consensus target price of $80.93.
Shares of QTWO traded down $1.55 during trading hours on Thursday, reaching $79.93. 11,834 shares of the company traded hands, compared to its average volume of 332,691. The stock has a market capitalization of $3.84 billion, a P/E ratio of -214.96 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 has a 12-month low of $43.41 and a 12-month high of $93.63. The business has a fifty day moving average price of $85.51 and a 200-day moving average price of $75.76.
Q2 (NYSE:QTWO) last posted its 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 company had revenue of $77.60 million during the quarter, compared to the consensus estimate of $76.10 million. Q2 had a negative net margin of 20.73% and a negative return on equity of 13.40%. The firm’s quarterly revenue was up 32.0% on a year-over-year basis. During the same period in the previous year, the firm posted $0.01 earnings per share. As a group, research analysts predict that Q2 will post -0.66 EPS for the current fiscal year.
In other news, insider William M. Furrer sold 13,301 shares of the company’s stock in a transaction that occurred on Monday, July 1st. The shares were sold at an average price of $76.18, for a total value of $1,013,270.18. Following the transaction, the insider now directly owns 81,643 shares in the company, valued at approximately $6,219,563.74. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Rekha Garapati sold 2,967 shares of the company’s stock in a transaction that occurred on Monday, July 8th. The stock was sold at an average price of $76.73, for a total transaction of $227,657.91. Following the completion of the transaction, the executive vice president now owns 50,318 shares in the company, valued at $3,860,900.14. The disclosure for this sale can be found here. In the last three months, insiders sold 372,487 shares of company stock valued at $29,837,903. Corporate insiders own 12.80% of the company’s stock.
Several institutional investors have recently added to or reduced their stakes in the company. Valeo Financial Advisors LLC lifted its position in Q2 by 67.4% in the second quarter. Valeo Financial Advisors LLC now owns 385 shares of the technology company’s stock valued at $29,000 after acquiring an additional 155 shares during the last quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. purchased a new stake in Q2 in the second quarter valued at $42,000. Tortoise Index Solutions LLC acquired a new position in Q2 in the first quarter valued at $39,000. Marshall Wace North America L.P. increased its stake in Q2 by 82.2% in the first quarter. Marshall Wace North America L.P. now owns 1,800 shares of the technology company’s stock valued at $125,000 after purchasing an additional 812 shares during the period. Finally, Steelhead Partners LLC acquired a new position in Q2 in the second quarter valued at $137,000.
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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