Q2 Holdings Inc (QTWO) is Resumed by Needham to Buy, Price Target at $34

Q2 Holdings Inc (QTWO) was Resumed by Needham to “Buy” and the brokerage firm has set the Price Target at $34. Needham advised their investors in a research report released on Jun 21, 2016.

On the company’s financial health, Q2 Holdings Inc reported $-271 EPS for the quarter, beating the analyst consensus estimate by $ 0.02 according to the earnings call on May 9, 2016. Analyst had a consensus of $-271.02. The company had revenue of $33.80 million for the quarter, compared to analysts expectations of $33.10 million. The company’s revenue was up 39.7% compared to the same quarter last year.

Q2 Holdings Inc opened for trading at $27.56 and hit $28.25 on the upside on Monday, eventually ending the session at $27.86, with a gain of 1.75% or 0.48 points. The heightened volatility saw the trading volume jump to 1,60,500 shares. Company has a market cap of $1,093 M.

In a different news, on Jun 8, 2016, Jennifer Noel Harris (Chief Financial Officer) sold 10,000 shares at $28.00 per share price. According to the SEC, on Jun 8, 2016, James Offerdahl (director) sold 1,000 shares at $28.00 per share price. On Jun 2, 2016, John E Breeden (EVP, Operations) sold 7,500 shares at $26.00 per share price, according to the Form-4 filing with the securities and exchange commission.

Q2 Holdings Inc. (Q2) is a provider of secure cloud-based virtual banking solutions. The Company enables regional and community financial institutions (RCFIs) to deliver a range of virtual banking services. It delivers virtual banking experience across online mobile voice and tablet channels. Its software-as-a-service (SaaS) delivery model is designed to scale with its customers as they add account holders on its solutions. RCFIs can configure the Company’s solutions to function in a manner that is consistent with their specific workflows processes and controls and personalize the experiences they deliver to their account holders by extending the services and local character of their branches across digital channels. It sells subscriptions to its cloud-based solutions through its direct sales organization. The Company’s solutions include Q2online Q2 Risk & Fraud Analytics Q2 Treasury Q2mobility App Q2mobile Remote Deposit Capture Q2text Q2voice Q2themes and Q2clarity.

Q2 Holdings Inc

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