Q2 (QTWO) Price Target Raised to $67.00 at Loop Capital

Q2 (NYSE:QTWO) had its target price hoisted by equities research analysts at Loop Capital to $67.00 in a research note issued to investors on Thursday, August 9th, The Fly reports. The brokerage currently has an “in-line” rating on the technology company’s stock. Loop Capital’s target price points to a potential upside of 7.54% from the stock’s current price.

Several other brokerages have also recently issued reports on QTWO. Zacks Investment Research cut Q2 from a “buy” rating to a “hold” rating in a report on Tuesday, May 8th. DA Davidson upped their price target on Q2 from $38.00 to $47.00 and gave the stock a “neutral” rating in a report on Friday, May 4th. Royal Bank of Canada reaffirmed a “buy” rating and issued a $65.00 price target on shares of Q2 in a report on Thursday, August 9th. BTIG Research cut Q2 from a “buy” rating to a “neutral” rating in a report on Thursday, May 10th. They noted that the move was a valuation call. Finally, ValuEngine raised Q2 from a “buy” rating to a “strong-buy” rating in a report on Tuesday, June 12th. Nine research analysts have rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the stock. The company has a consensus rating of “Buy” and a consensus target price of $58.38.

QTWO traded down $0.25 on Thursday, reaching $62.30. 254,600 shares of the stock were exchanged, compared to its average volume of 334,186. Q2 has a fifty-two week low of $36.25 and a fifty-two week high of $64.25. The company has a debt-to-equity ratio of 1.12, a quick ratio of 6.00 and a current ratio of 6.00. The stock has a market cap of $2.68 billion, a P/E ratio of -129.79 and a beta of 1.42.

Q2 (NYSE:QTWO) last issued its quarterly earnings results on Tuesday, August 7th. The technology company reported $0.01 EPS for the quarter, topping the Zacks’ consensus estimate of ($0.14) by $0.15. The company had revenue of $58.57 million during the quarter, compared to analysts’ expectations of $58.34 million. Q2 had a negative return on equity of 14.66% and a negative net margin of 12.07%. analysts predict that Q2 will post -0.53 EPS for the current fiscal year.

In other news, Director R. H. Seale sold 118,000 shares of the company’s stock in a transaction that occurred on Wednesday, August 29th. The stock was sold at an average price of $62.92, for a total value of $7,424,560.00. Following the completion of the sale, the director now directly owns 381,962 shares in the company, valued at $24,033,049.04. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director R. H. Seale sold 34,899 shares of the company’s stock in a transaction that occurred on Monday, August 27th. The shares were sold at an average price of $63.51, for a total value of $2,216,435.49. Following the completion of the transaction, the director now owns 381,962 shares in the company, valued at $24,258,406.62. The disclosure for this sale can be found here. Insiders sold 1,294,740 shares of company stock valued at $76,289,503 over the last 90 days. Company insiders own 17.90% of the company’s stock.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in QTWO. Vista Equity Partners Management LLC acquired a new position in Q2 during the first quarter worth $4,621,000. Renaissance Technologies LLC lifted its stake in Q2 by 33.1% during the fourth quarter. Renaissance Technologies LLC now owns 47,900 shares of the technology company’s stock worth $1,765,000 after purchasing an additional 11,900 shares in the last quarter. Federated Investors Inc. PA lifted its stake in Q2 by 3.0% during the first quarter. Federated Investors Inc. PA now owns 871,735 shares of the technology company’s stock worth $39,708,000 after purchasing an additional 25,790 shares in the last quarter. Amalgamated Bank acquired a new position in Q2 during the second quarter worth $319,000. Finally, MetLife Investment Advisors LLC acquired a new position in Q2 during the fourth quarter worth $546,000. Hedge funds and other institutional investors own 93.59% of the company’s stock.

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 Q2online, a browser-based digital banking solution that delivers RCFI-branded digital banking capabilities; Q2 Sentinel, a security analytics solution; Q2 Corporate to support RCFIs to attract and retain larger commercial accounts; and Q2 SMART, a targeting and messaging platform.

Further Reading: Book Value Per Share – BVPS

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