Royal Bank Of Canada Reaffirms “Outperform” Rating for Q2 Holdings, Inc. (QTWO)

Royal Bank Of Canada reissued their outperform rating on shares of Q2 Holdings, Inc. (NYSE:QTWO) in a research note published on Friday morning, MarketBeat.com reports. The firm currently has a $48.00 price target on the technology company’s stock, up from their previous price target of $43.00.

QTWO has been the topic of a number of other research reports. Loop Capital increased their price objective on shares of Q2 Holdings from $42.00 to $49.00 and gave the stock a positive rating in a report on Friday. Zacks Investment Research raised shares of Q2 Holdings from a hold rating to a buy rating and set a $42.00 price objective on the stock in a report on Wednesday, August 9th. Canaccord Genuity reissued a hold rating and set a $43.00 price objective on shares of Q2 Holdings in a report on Monday, October 30th. Finally, BidaskClub lowered shares of Q2 Holdings from a buy rating to a hold rating in a report on Monday, October 9th. Six investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. The stock presently has an average rating of Buy and an average target price of $45.67.

Shares of Q2 Holdings (NYSE:QTWO) traded down $0.70 during trading on Friday, hitting $42.05. 50,728 shares of the company were exchanged, compared to its average volume of 188,234. Q2 Holdings has a 1-year low of $27.10 and a 1-year high of $43.65.

Q2 Holdings (NYSE:QTWO) last announced its earnings results on Wednesday, November 1st. The technology company reported $0.03 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.02) by $0.05. The business had revenue of $50.10 million during the quarter, compared to analysts’ expectations of $50.05 million. Q2 Holdings had a negative net margin of 15.27% and a negative return on equity of 20.50%. The firm’s revenue for the quarter was up 30.8% on a year-over-year basis. During the same quarter last year, the company posted ($0.24) EPS. analysts expect that Q2 Holdings will post -0.54 earnings per share for the current fiscal year.

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In other news, insider Adam D. Blue sold 35,000 shares of the firm’s stock in a transaction dated Friday, September 1st. The shares were sold at an average price of $39.67, for a total value of $1,388,450.00. Following the transaction, the insider now owns 75,805 shares of the company’s stock, valued at approximately $3,007,184.35. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Barry G. Benton sold 1,500 shares of the firm’s stock in a transaction dated Monday, August 14th. The shares were sold at an average price of $38.19, for a total transaction of $57,285.00. Following the completion of the transaction, the senior vice president now directly owns 23,487 shares in the company, valued at approximately $896,968.53. The disclosure for this sale can be found here. Insiders sold a total of 227,825 shares of company stock worth $9,237,255 in the last ninety days. Insiders own 24.50% of the company’s stock.

A number of institutional investors have recently added to or reduced their stakes in the stock. Adams Street Partners LLC boosted its stake in Q2 Holdings by 0.4% during the 2nd quarter. Adams Street Partners LLC now owns 3,443,275 shares of the technology company’s stock worth $127,060,000 after acquiring an additional 14,808 shares during the last quarter. JPMorgan Chase & Co. boosted its stake in Q2 Holdings by 6.9% during the 2nd quarter. JPMorgan Chase & Co. now owns 2,943,396 shares of the technology company’s stock worth $108,759,000 after acquiring an additional 190,171 shares during the last quarter. Franklin Resources Inc. boosted its stake in Q2 Holdings by 55.6% during the 2nd quarter. Franklin Resources Inc. now owns 1,502,687 shares of the technology company’s stock worth $55,523,000 after acquiring an additional 536,772 shares during the last quarter. Gilder Gagnon Howe & Co. LLC boosted its stake in Q2 Holdings by 7.8% during the 2nd quarter. Gilder Gagnon Howe & Co. LLC now owns 1,410,134 shares of the technology company’s stock worth $52,104,000 after acquiring an additional 101,616 shares during the last quarter. Finally, Vanguard Group Inc. boosted its stake in Q2 Holdings by 10.4% during the 2nd quarter. Vanguard Group Inc. now owns 1,360,214 shares of the technology company’s stock worth $50,261,000 after acquiring an additional 128,054 shares during the last quarter. 94.11% of the stock is currently owned by institutional investors and hedge funds.

Q2 Holdings Company Profile

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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