Q2 (QTWO) Lifted to “Overweight” at JPMorgan Chase & Co.

JPMorgan Chase & Co. upgraded shares of Q2 (NYSE:QTWO) from a neutral rating to an overweight rating in a report issued on Thursday, MarketBeat.com reports. The brokerage currently has $49.92 price objective on the technology company’s stock.

Several other equities research analysts have also recently commented on QTWO. Raymond James raised their target price on shares of Q2 from $65.00 to $72.00 and gave the stock an outperform rating in a research report on Monday, September 10th. Stephens initiated coverage on shares of Q2 in a research report on Thursday, September 27th. They issued an equal weight rating and a $70.00 target price for the company. Zacks Investment Research cut shares of Q2 from a hold rating to a sell rating in a research report on Friday, November 2nd. Finally, Morgan Stanley set a $60.00 target price on shares of Q2 and gave the stock a hold rating in a research report on Thursday, November 8th. Eight investment analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the stock. The company has an average rating of Buy and an average price target of $61.92.

Shares of QTWO opened at $49.17 on Thursday. The firm has a market cap of $2.13 billion, a price-to-earnings ratio of -102.44 and a beta of 1.48. The company has a debt-to-equity ratio of 1.13, a current ratio of 5.62 and a quick ratio of 5.62. Q2 has a twelve month low of $36.25 and a twelve month high of $67.10.

Q2 (NYSE:QTWO) last announced its quarterly earnings results on Tuesday, November 6th. The technology company reported ($0.08) earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.16) by $0.08. The business had revenue of $60.50 million during the quarter, compared to analysts’ expectations of $60.18 million. Q2 had a negative net margin of 12.88% and a negative return on equity of 12.61%. The firm’s revenue for the quarter was up 20.8% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.03 EPS. As a group, equities research analysts forecast that Q2 will post -0.5 EPS for the current fiscal year.

In related news, CEO Matthew P. Flake sold 43,952 shares of Q2 stock in a transaction dated Monday, December 3rd. The shares were sold at an average price of $52.20, for a total transaction of $2,294,294.40. Following the completion of the transaction, the chief executive officer now directly owns 280,008 shares of the company’s stock, valued at approximately $14,616,417.60. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CEO Matthew P. Flake sold 20,000 shares of Q2 stock in a transaction dated Monday, October 1st. The shares were sold at an average price of $59.28, for a total transaction of $1,185,600.00. Following the transaction, the chief executive officer now directly owns 280,008 shares of the company’s stock, valued at $16,598,874.24. The disclosure for this sale can be found here. Over the last three months, insiders have sold 293,808 shares of company stock valued at $16,176,666. 17.90% of the stock is currently owned by corporate insiders.

Hedge funds and other institutional investors have recently modified their holdings of the stock. SG Americas Securities LLC purchased a new position in Q2 during the 2nd quarter valued at about $132,000. Dynamic Technology Lab Private Ltd bought a new stake in Q2 during the 2nd quarter valued at about $200,000. Virtu Financial LLC bought a new stake in Q2 during the 3rd quarter valued at about $253,000. Trexquant Investment LP bought a new stake in Q2 during the 2nd quarter valued at about $267,000. Finally, Public Employees Retirement Association of Colorado bought a new stake in Q2 during the 3rd quarter valued at about $285,000. 95.20% of the stock is owned by institutional investors.

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.

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