Q2 (NYSE:QTWO) Coverage Initiated at Compass Point

Compass Point assumed coverage on shares of Q2 (NYSE:QTWO) in a research report sent to investors on Tuesday, BenzingaRatingsTable reports. The brokerage issued a buy rating and a $105.00 target price on the technology company’s stock.

QTWO has been the topic of a number of other research reports. Wells Fargo & Co upped their target price on Q2 from $75.00 to $80.00 and gave the company an outperform rating in a research note on Thursday, May 9th. JPMorgan Chase & Co. upped their target price on Q2 from $78.00 to $90.00 and gave the company an overweight rating in a research note on Thursday, August 8th. Zacks Investment Research raised Q2 from a sell rating to a hold rating in a research note on Saturday, August 10th. Royal Bank of Canada upped their target price on Q2 from $79.00 to $94.00 and gave the company an outperform rating in a research note on Thursday, August 8th. Finally, SunTrust Banks upped their target price on Q2 from $84.00 to $100.00 and gave the company a buy rating in a research note on Friday, August 9th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and twelve have assigned a buy rating to the stock. The company currently has a consensus rating of Buy and an average price target of $79.75.

QTWO stock opened at $92.44 on Tuesday. Q2 has a 1 year low of $43.41 and a 1 year high of $92.66. The company has a quick ratio of 2.08, a current ratio of 6.72 and a debt-to-equity ratio of 1.14. The stock’s 50 day moving average price is $80.40 and its 200 day moving average price is $72.64.

Q2 (NYSE:QTWO) last posted its earnings results on Wednesday, August 7th. The technology company reported ($0.20) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.21) by $0.01. Q2 had a negative return on equity of 13.40% and a negative net margin of 20.73%. The firm had revenue of $77.60 million for the quarter, compared to analyst estimates of $76.10 million. During the same quarter in the prior year, the company earned $0.01 EPS. Q2’s revenue was up 32.0% on a year-over-year basis. On average, research analysts expect that Q2 will post -0.66 earnings per share for the current fiscal year.

In other Q2 news, Director James Offerdahl sold 2,000 shares of the stock in a transaction on Wednesday, May 22nd. The stock was sold at an average price of $73.40, for a total transaction of $146,800.00. Following the transaction, the director now owns 6,433 shares of the company’s stock, valued at approximately $472,182.20. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Matthew P. Flake sold 120,000 shares of the stock in a transaction on Monday, June 10th. The stock was sold at an average price of $69.50, for a total value of $8,340,000.00. Following the transaction, the insider now directly owns 298,999 shares in the company, valued at approximately $20,780,430.50. The disclosure for this sale can be found here. In the last three months, insiders have sold 480,537 shares of company stock worth $35,941,718. Corporate insiders own 12.80% of the company’s stock.

Several institutional investors and hedge funds have recently modified their holdings of the stock. OZ Management LP purchased a new position in shares of Q2 in the 2nd quarter worth $947,000. United Services Automobile Association raised its position in shares of Q2 by 32.9% in the 2nd quarter. United Services Automobile Association now owns 7,067 shares of the technology company’s stock worth $540,000 after buying an additional 1,748 shares during the period. Vista Equity Partners Management LLC raised its position in shares of Q2 by 22.5% in the 2nd quarter. Vista Equity Partners Management LLC now owns 234,151 shares of the technology company’s stock worth $17,880,000 after buying an additional 43,052 shares during the period. Waddell & Reed Financial Inc. raised its position in shares of Q2 by 27.4% in the 2nd quarter. Waddell & Reed Financial Inc. now owns 1,376,062 shares of the technology company’s stock worth $105,076,000 after buying an additional 295,811 shares during the period. Finally, Nuveen Asset Management LLC purchased a new position in shares of Q2 in the 2nd quarter worth $13,776,000. 99.30% of the stock is currently owned by institutional investors and hedge funds.

About Q2

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.

Featured Story: Why do corrections happen?

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.