Q2 Holdings, Inc. (QTWO) Receives Buy Rating from Needham & Company LLC

Needham & Company LLC reissued their buy rating on shares of Q2 Holdings, Inc. (NYSE:QTWO) in a research note published on Friday, November 3rd. They currently have a $48.00 price objective on the technology company’s stock.

Other analysts also recently issued research reports about the company. BidaskClub upgraded Q2 Holdings from a hold rating to a buy rating in a research note on Sunday, October 15th. Canaccord Genuity cut Q2 Holdings from a buy rating to a hold rating in a report on Thursday, November 2nd. Morgan Stanley increased their target price on Q2 Holdings from $40.00 to $44.00 and gave the stock an equal weight rating in a report on Friday, November 3rd. Zacks Investment Research raised Q2 Holdings from a sell rating to a hold rating in a report on Tuesday, October 10th. Finally, KeyCorp reiterated a hold rating on shares of Q2 Holdings in a research report on Wednesday, September 13th. Six research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. The company has a consensus rating of Buy and an average price target of $44.90.

Shares of Q2 Holdings (NYSE:QTWO) traded up $0.25 during trading on Friday, hitting $42.40. The stock had a trading volume of 154,234 shares, compared to its average volume of 222,313. Q2 Holdings has a twelve month low of $27.80 and a twelve month high of $44.35.

Q2 Holdings (NYSE:QTWO) last posted its quarterly earnings results on Wednesday, November 1st. The technology company reported $0.03 earnings per share for the quarter, beating the consensus estimate of ($0.02) by $0.05. Q2 Holdings had a negative return on equity of 20.50% and a negative net margin of 15.27%. The firm had revenue of $50.10 million for the quarter, compared to analyst estimates of $50.05 million. During the same period in the previous year, the firm earned ($0.24) earnings per share. Q2 Holdings’s quarterly revenue was up 30.8% on a year-over-year basis. analysts forecast that Q2 Holdings will post -0.48 EPS for the current year.

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In other Q2 Holdings news, SVP Barry G. Benton sold 1,500 shares of the stock in a transaction dated Monday, November 13th. The shares were sold at an average price of $42.69, for a total value of $64,035.00. Following the completion of the sale, the senior vice president now owns 23,487 shares in the company, valued at approximately $1,002,660.03. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, Director Jeffrey T. Diehl sold 800,000 shares of the firm’s stock in a transaction that occurred on Tuesday, November 14th. The stock was sold at an average price of $41.50, for a total transaction of $33,200,000.00. The disclosure for this sale can be found here. Insiders sold 1,026,575 shares of company stock valued at $42,490,943 over the last 90 days. 24.50% of the stock is currently owned by company insiders.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Strs Ohio boosted its holdings in Q2 Holdings by 6.6% in the 2nd quarter. Strs Ohio now owns 8,100 shares of the technology company’s stock worth $299,000 after buying an additional 500 shares during the period. Goldman Sachs Group Inc. lifted its holdings in shares of Q2 Holdings by 1.1% during the 2nd quarter. Goldman Sachs Group Inc. now owns 67,332 shares of the technology company’s stock worth $2,487,000 after acquiring an additional 701 shares during the last quarter. Ameritas Investment Partners Inc. lifted its holdings in shares of Q2 Holdings by 38.1% during the 2nd quarter. Ameritas Investment Partners Inc. now owns 2,751 shares of the technology company’s stock worth $102,000 after acquiring an additional 759 shares during the last quarter. Sei Investments Co. lifted its holdings in shares of Q2 Holdings by 36.9% during the 2nd quarter. Sei Investments Co. now owns 3,557 shares of the technology company’s stock worth $131,000 after acquiring an additional 959 shares during the last quarter. Finally, American International Group Inc. lifted its holdings in shares of Q2 Holdings by 7.1% during the 1st quarter. American International Group Inc. now owns 15,740 shares of the technology company’s stock worth $549,000 after acquiring an additional 1,038 shares during the last quarter. 91.07% of the stock is owned by institutional investors.

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.

Analyst Recommendations for Q2 Holdings (NYSE:QTWO)

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