Q2 (NYSE:QTWO) Stock Rating Upgraded by Zacks Investment Research

Zacks Investment Research upgraded shares of Q2 (NYSE:QTWOGet Rating) from a sell rating to a hold rating in a report issued 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 brokerages have also recently weighed in on QTWO. StockNews.com cut shares of Q2 from a hold rating to a sell rating in a research report on Tuesday, May 3rd. Needham & Company LLC decreased their price objective on shares of Q2 from $105.00 to $87.00 and set a buy rating for the company in a report on Thursday, February 17th. Canaccord Genuity Group decreased their price objective on shares of Q2 from $135.00 to $100.00 in a report on Thursday, February 17th. Robert W. Baird decreased their price objective on shares of Q2 from $92.00 to $77.00 in a report on Wednesday, May 4th. Finally, Stifel Nicolaus decreased their price objective on shares of Q2 from $100.00 to $90.00 and set a buy rating for the company in a report on Monday, March 21st. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of Buy and a consensus price target of $85.25.

Shares of QTWO opened at $44.20 on Tuesday. The stock has a market capitalization of $2.53 billion, a P/E ratio of -22.67 and a beta of 1.45. The company has a quick ratio of 2.98, a current ratio of 2.98 and a debt-to-equity ratio of 1.47. The firm has a fifty day simple moving average of $55.73 and a two-hundred day simple moving average of $67.42. Q2 has a twelve month low of $38.90 and a twelve month high of $108.89.

Q2 (NYSE:QTWOGet Rating) last announced its quarterly earnings results on Monday, May 2nd. The technology company reported $0.03 earnings per share for the quarter, missing the consensus estimate of $0.06 by ($0.03). Q2 had a negative net margin of 21.43% and a negative return on equity of 7.59%. During the same quarter in the previous year, the firm posted ($0.14) EPS. Sell-side analysts expect that Q2 will post -0.68 EPS for the current fiscal year.

In related news, CEO Matthew P. Flake sold 53,502 shares of the stock in a transaction dated Friday, March 4th. The shares were sold at an average price of $59.24, for a total value of $3,169,458.48. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Barry G. Benton sold 5,835 shares of the stock in a transaction dated Friday, March 4th. The stock was sold at an average price of $58.76, for a total transaction of $342,864.60. The disclosure for this sale can be found here. Over the last quarter, insiders sold 81,954 shares of company stock valued at $4,840,915. 4.50% of the stock is owned by company insiders.

A number of hedge funds have recently made changes to their positions in the stock. Wasatch Advisors Inc. grew its position in Q2 by 37.5% during the 4th quarter. Wasatch Advisors Inc. now owns 4,112,578 shares of the technology company’s stock valued at $326,703,000 after purchasing an additional 1,120,845 shares during the last quarter. Wellington Management Group LLP grew its position in Q2 by 6.2% during the 3rd quarter. Wellington Management Group LLP now owns 3,388,567 shares of the technology company’s stock valued at $271,560,000 after purchasing an additional 198,041 shares during the last quarter. Macquarie Group Ltd. grew its position in Q2 by 8.0% during the 3rd quarter. Macquarie Group Ltd. now owns 2,644,251 shares of the technology company’s stock valued at $211,910,000 after purchasing an additional 196,729 shares during the last quarter. Champlain Investment Partners LLC grew its position in Q2 by 10.3% during the 1st quarter. Champlain Investment Partners LLC now owns 2,367,225 shares of the technology company’s stock valued at $145,939,000 after purchasing an additional 221,085 shares during the last quarter. Finally, Conestoga Capital Advisors LLC grew its position in Q2 by 36.8% during the 1st quarter. Conestoga Capital Advisors LLC now owns 2,316,267 shares of the technology company’s stock valued at $142,798,000 after purchasing an additional 623,364 shares during the last quarter.

About Q2 (Get Rating)

Q2 Holdings, Inc provides cloud-based digital banking solutions to regional and community financial institutions (RCFIs) in the United States. The company offers Q2 Consumer Banking, a browser-based digital banking solution and comprehensive financial institution branded digital banking capabilities; Q2 Small Business and Commercial, a mobile and tablet digital banking solution; Q2mobile Remote Deposit Capture, a partnered solution that allows remote check deposit capture.

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