Q2 (QTWO) Downgraded by J P Morgan Chase & Co

J P Morgan Chase & Co lowered shares of Q2 (NYSE:QTWO) from an overweight rating to a neutral rating in a report published on Tuesday morning, MarketBeat.com reports. The brokerage currently has $50.00 price objective on the technology company’s stock.

Several other research firms have also commented on QTWO. KeyCorp reiterated a hold rating on shares of Q2 in a research report on Wednesday, September 13th. BidaskClub upgraded shares of Q2 from a hold rating to a buy rating in a research report on Tuesday, October 3rd. Zacks Investment Research lowered shares of Q2 from a hold rating to a sell rating in a research report on Wednesday, October 4th. BTIG Research reiterated a buy rating and issued a $47.00 price objective on shares of Q2 in a research report on Sunday, November 5th. Finally, SunTrust Banks reiterated a buy rating on shares of Q2 in a research report on Friday, November 3rd. Seven analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. The company has an average rating of Buy and a consensus price target of $45.36.

Q2 (NYSE:QTWO) traded down $0.75 during trading hours on Tuesday, hitting $37.30. 170,200 shares of the stock were exchanged, compared to its average volume of 220,117. Q2 has a fifty-two week low of $28.30 and a fifty-two week high of $44.35.

Q2 (NYSE:QTWO) last posted its quarterly earnings results on Wednesday, November 1st. The technology company reported $0.03 earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.02) by $0.05. Q2 had a negative net margin of 15.27% and a negative return on equity of 20.50%. The business had revenue of $50.10 million for the quarter, compared to analysts’ expectations of $50.05 million. During the same period in the prior year, the company posted ($0.24) EPS. The business’s revenue for the quarter was up 30.8% on a year-over-year basis. research analysts predict that Q2 will post -0.48 earnings per share for the current year.

In other Q2 news, Director Jeffrey T. Diehl sold 800,000 shares of the company’s stock in a transaction dated Tuesday, November 14th. The shares were sold at an average price of $41.50, for a total value of $33,200,000.00. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Carl James Schaper sold 20,000 shares of the company’s stock in a transaction dated Monday, September 25th. The shares were sold at an average price of $39.41, for a total transaction of $788,200.00. Following the completion of the transaction, the director now owns 44,172 shares in the company, valued at $1,740,818.52. The disclosure for this sale can be found here. Insiders sold a total of 1,012,086 shares of company stock worth $41,948,730 over the last quarter. Insiders own 24.50% of the company’s stock.

A number of large investors have recently added to or reduced their stakes in QTWO. Franklin Resources Inc. lifted its holdings in Q2 by 55.6% in the 2nd quarter. Franklin Resources Inc. now owns 1,502,687 shares of the technology company’s stock valued at $55,523,000 after purchasing an additional 536,772 shares in the last quarter. Emerald Advisers Inc. PA purchased a new position in Q2 in the 3rd quarter valued at about $15,520,000. Penn Capital Management Co. Inc. lifted its holdings in Q2 by 3,059.9% in the 2nd quarter. Penn Capital Management Co. Inc. now owns 303,822 shares of the technology company’s stock valued at $11,243,000 after purchasing an additional 294,207 shares in the last quarter. Emerald Mutual Fund Advisers Trust lifted its holdings in Q2 by 371.8% in the 3rd quarter. Emerald Mutual Fund Advisers Trust now owns 305,361 shares of the technology company’s stock valued at $12,718,000 after purchasing an additional 240,645 shares in the last quarter. Finally, JPMorgan Chase & Co. lifted its holdings in Q2 by 6.9% in the 2nd quarter. JPMorgan Chase & Co. now owns 2,943,396 shares of the technology company’s stock valued at $108,759,000 after purchasing an additional 190,171 shares in the last quarter. Institutional investors own 91.41% of the company’s stock.

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About Q2

Q2 Holdings, Inc is a provider of cloud-based digital banking solutions. The Company enables regional and community financial institutions (RCFIs), to deliver a suite of integrated digital banking services. The Company’s solutions all operate on a common platform that supports the delivery of unified digital banking services across online, mobile and voice channels.

Analyst Recommendations for Q2 (NYSE:QTWO)

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