Q2’s (QTWO) Buy Rating Reiterated at Canaccord Genuity

Q2 (NYSE:QTWO)‘s stock had its “buy” rating restated by equities research analysts at Canaccord Genuity in a note issued to investors on Friday, AnalystRatings.com reports. They presently have a $116.00 price objective on the technology company’s stock. Canaccord Genuity’s price objective points to a potential upside of 30.16% from the stock’s current price.

Several other brokerages also recently commented on QTWO. ValuEngine downgraded Q2 from a “buy” rating to a “hold” rating in a research note on Tuesday, December 3rd. Stephens upgraded Q2 from an “equal weight” rating to an “overweight” rating in a research note on Friday, January 3rd. Needham & Company LLC restated a “buy” rating and issued a $100.00 price target on shares of Q2 in a research note on Tuesday, December 17th. Roth Capital upgraded Q2 from a “neutral” rating to a “buy” rating in a research note on Monday, November 11th. Finally, Morgan Stanley restated an “overweight” rating and issued a $90.00 price target on shares of Q2 in a research note on Monday, October 28th. Two equities research analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company’s stock. Q2 has a consensus rating of “Buy” and a consensus price target of $93.51.

Shares of QTWO opened at $89.12 on Friday. The business’s fifty day simple moving average is $86.45 and its two-hundred day simple moving average is $81.75. The company has a current ratio of 5.93, a quick ratio of 5.93 and a debt-to-equity ratio of 1.18. Q2 has a 12 month low of $64.10 and a 12 month high of $93.90. The company has a market cap of $4.23 billion, a price-to-earnings ratio of -57.87 and a beta of 1.19.

Q2 (NYSE:QTWO) last issued its earnings results on Wednesday, February 19th. The technology company reported $0.38 EPS for the quarter, beating the consensus estimate of ($0.12) by $0.50. Q2 had a negative return on equity of 6.33% and a negative net margin of 22.47%. The business had revenue of $86.80 million for the quarter, compared to the consensus estimate of $88.90 million. During the same period last year, the business posted $0.08 EPS. The company’s revenue was up 29.2% compared to the same quarter last year. As a group, research analysts forecast that Q2 will post -0.85 EPS for the current year.

In related news, CFO Jennifer Noel Harris sold 7,275 shares of the firm’s stock in a transaction on Tuesday, February 18th. The stock was sold at an average price of $87.01, for a total value of $632,997.75. Following the transaction, the chief financial officer now directly owns 107,590 shares of the company’s stock, valued at approximately $9,361,405.90. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CMO William M. Furrer sold 3,450 shares of the firm’s stock in a transaction on Tuesday, February 18th. The stock was sold at an average price of $87.00, for a total value of $300,150.00. Following the completion of the transaction, the chief marketing officer now directly owns 81,753 shares in the company, valued at $7,112,511. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 113,475 shares of company stock worth $9,646,029. Company insiders own 12.80% of the company’s stock.

Institutional investors have recently made changes to their positions in the stock. BlackRock Inc. increased its holdings in shares of Q2 by 0.6% in the second quarter. BlackRock Inc. now owns 2,953,984 shares of the technology company’s stock worth $225,566,000 after purchasing an additional 17,568 shares during the last quarter. Envestnet Asset Management Inc. grew its position in Q2 by 11.1% in the third quarter. Envestnet Asset Management Inc. now owns 10,246 shares of the technology company’s stock worth $808,000 after acquiring an additional 1,021 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank grew its position in Q2 by 11.8% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,515 shares of the technology company’s stock worth $198,000 after acquiring an additional 265 shares in the last quarter. Strs Ohio grew its position in Q2 by 29.7% in the third quarter. Strs Ohio now owns 4,800 shares of the technology company’s stock worth $378,000 after acquiring an additional 1,100 shares in the last quarter. Finally, Essex Investment Management Co. LLC purchased a new position in Q2 in the third quarter worth about $228,000.

Q2 Company Profile

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.

See Also: Most Active Stocks

Analyst Recommendations for Q2 (NYSE:QTWO)

Receive News & Ratings for Q2 Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Q2 and related companies with MarketBeat.com's FREE daily email newsletter.



Comments


share news on Facebook
tweet this investment news
share on linkedin
share on StockTwits
share on reddit