Q2 (NYSE:QTWO) Cut to Hold at ValuEngine

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Q2 (NYSE:QTWO) was downgraded by equities research analysts at ValuEngine from a “buy” rating to a “hold” rating in a research report issued on Tuesday, ValuEngine reports.

A number of other analysts have also recently weighed in on QTWO. Canaccord Genuity raised Q2 from a “hold” rating to a “buy” rating and increased their price objective for the stock from $70.00 to $97.00 in a research report on Thursday, September 12th. Zacks Investment Research cut Q2 from a “hold” rating to a “sell” rating in a research report on Tuesday, November 26th. JPMorgan Chase & Co. increased their price objective on Q2 from $78.00 to $90.00 and gave the stock an “overweight” rating in a research report on Thursday, August 8th. Royal Bank of Canada increased their price objective on Q2 from $79.00 to $94.00 and gave the stock an “outperform” rating in a research report on Thursday, August 8th. Finally, Citigroup initiated coverage on Q2 in a research report on Monday, October 14th. They set a “buy” rating and a $88.00 price objective for the company. Two research analysts have rated the stock with a sell rating, two have assigned a hold rating and seventeen have given a buy rating to the company’s stock. Q2 has a consensus rating of “Buy” and an average price target of $85.46.

Shares of NYSE QTWO opened at $83.50 on Tuesday. The stock has a market cap of $4.07 billion, a PE ratio of -225.68 and a beta of 1.24. The company has a quick ratio of 5.93, a current ratio of 5.93 and a debt-to-equity ratio of 1.18. Q2 has a 52-week low of $43.41 and a 52-week high of $93.63. The business has a 50-day moving average price of $75.58 and a 200 day moving average price of $78.44.

Q2 (NYSE:QTWO) last announced its earnings results on Wednesday, November 6th. The technology company reported $0.05 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.17) by $0.22. The firm had revenue of $79.70 million during the quarter, compared to analysts’ expectations of $79.26 million. Q2 had a negative return on equity of 12.11% and a negative net margin of 22.67%. The business’s revenue was up 31.6% on a year-over-year basis. During the same period in the prior year, the firm earned $0.09 EPS. Sell-side analysts anticipate that Q2 will post -0.72 earnings per share for the current year.

In other news, Director R. H. Seale sold 124,076 shares of the stock in a transaction that occurred on Tuesday, October 1st. The stock was sold at an average price of $76.14, for a total transaction of $9,447,146.64. Following the completion of the transaction, the director now directly owns 384,817 shares of the company’s stock, valued at approximately $29,299,966.38. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, CEO Matthew P. Flake sold 25,000 shares of the stock in a transaction that occurred on Thursday, October 31st. The stock was sold at an average price of $71.02, for a total value of $1,775,500.00. Following the transaction, the chief executive officer now directly owns 323,999 shares of the company’s stock, valued at $23,010,408.98. The disclosure for this sale can be found here. Over the last three months, insiders have sold 239,556 shares of company stock valued at $18,638,975. Company insiders own 12.80% of the company’s stock.

Several hedge funds have recently modified their holdings of the company. Metropolitan Life Insurance Co NY raised its stake in shares of Q2 by 14.7% during the 3rd quarter. Metropolitan Life Insurance Co NY now owns 13,577 shares of the technology company’s stock worth $1,071,000 after buying an additional 1,737 shares in the last quarter. Millennium Management LLC purchased a new position in shares of Q2 during the 3rd quarter worth approximately $10,199,000. Vista Equity Partners Management LLC raised its stake in shares of Q2 by 23.5% during the 3rd quarter. Vista Equity Partners Management LLC now owns 289,205 shares of the technology company’s stock worth $22,810,000 after buying an additional 55,054 shares in the last quarter. Voloridge Investment Management LLC raised its stake in shares of Q2 by 158.1% during the 3rd quarter. Voloridge Investment Management LLC now owns 23,230 shares of the technology company’s stock worth $1,832,000 after buying an additional 14,230 shares in the last quarter. Finally, California State Teachers Retirement System raised its stake in shares of Q2 by 9.1% during the 3rd quarter. California State Teachers Retirement System now owns 67,302 shares of the technology company’s stock worth $5,308,000 after buying an additional 5,606 shares in the last quarter.

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.

Further Reading: What is the LIBOR?

To view ValuEngine’s full report, visit ValuEngine’s official website.

Analyst Recommendations for Q2 (NYSE:QTWO)

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