Q2 (NYSE:QTWO) had its target price hoisted by Needham & Company LLC from $48.00 to $50.00 in a report published on Friday morning, MarketBeat Ratings reports. The brokerage currently has a buy rating on the technology company’s stock.
Several other equities research analysts have also weighed in on QTWO. Stifel Nicolaus reiterated a buy rating and issued a $50.00 price objective on shares of Q2 in a research note on Friday. Wells Fargo & Co assumed coverage on Q2 in a research note on Thursday, February 8th. They issued an outperform rating and a $50.00 price objective on the stock. BidaskClub lowered Q2 from a buy rating to a hold rating in a research note on Monday, October 23rd. Loop Capital upped their price objective on Q2 from $42.00 to $49.00 and gave the company a positive rating in a research note on Friday, November 3rd. Finally, SunTrust Banks reiterated a buy rating on shares of Q2 in a research note on Friday, November 3rd. Seven investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. The stock currently has an average rating of Buy and an average price target of $46.58.
Q2 (QTWO) opened at $45.70 on Friday. The company has a market capitalization of $1,904.46, a P/E ratio of -72.54 and a beta of 1.59. Q2 has a twelve month low of $31.95 and a twelve month high of $46.10.
Q2 (NYSE:QTWO) last released its quarterly earnings data on Wednesday, February 14th. The technology company reported $0.05 earnings per share for the quarter, beating the consensus estimate of $0.01 by $0.04. Q2 had a negative return on equity of 19.61% and a negative net margin of 13.49%. The company had revenue of $51.70 million for the quarter, compared to analyst estimates of $51.70 million. During the same period in the prior year, the company posted ($0.03) EPS. The company’s revenue was up 22.5% compared to the same quarter last year. equities research analysts predict that Q2 will post -0.38 earnings per share for the current year.
In related news, insider William M. Furrer sold 8,000 shares of the stock in a transaction that occurred on Tuesday, January 2nd. The stock was sold at an average price of $37.69, for a total transaction of $301,520.00. Following the sale, the insider now directly owns 43,614 shares in the company, valued at approximately $1,643,811.66. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, SVP Barry G. Benton sold 1,425 shares of the stock in a transaction that occurred on Wednesday, January 31st. The stock was sold at an average price of $42.00, for a total value of $59,850.00. Following the sale, the senior vice president now owns 21,356 shares in the company, valued at $896,952. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 110,011 shares of company stock worth $4,265,605. 24.50% of the stock is owned by corporate insiders.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in QTWO. Artisan Partners Limited Partnership boosted its position in Q2 by 4.9% in the 3rd quarter. Artisan Partners Limited Partnership now owns 1,648,424 shares of the technology company’s stock valued at $68,657,000 after buying an additional 77,433 shares during the last quarter. Cubist Systematic Strategies LLC bought a new position in Q2 in the 2nd quarter valued at $515,000. Teachers Advisors LLC boosted its position in Q2 by 21.5% in the 2nd quarter. Teachers Advisors LLC now owns 56,318 shares of the technology company’s stock valued at $2,081,000 after buying an additional 9,966 shares during the last quarter. Parametric Portfolio Associates LLC boosted its position in Q2 by 29.2% in the 2nd quarter. Parametric Portfolio Associates LLC now owns 136,076 shares of the technology company’s stock valued at $5,028,000 after buying an additional 30,729 shares during the last quarter. Finally, Bank of New York Mellon Corp boosted its position in Q2 by 2.6% in the 3rd quarter. Bank of New York Mellon Corp now owns 150,693 shares of the technology company’s stock valued at $6,278,000 after buying an additional 3,859 shares during the last quarter. Institutional investors and hedge funds own 90.75% of the company’s stock.
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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.
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