Q2 Holdings (QTWO) Gets a Buy Rating from Canaccord Genuity

By Ryan Adsit

Canaccord Genuity analyst Joseph Vafi maintained a Buy rating on Q2 Holdings (QTWOResearch Report) yesterday and set a price target of $116.00. The company’s shares closed last Monday at $89.12, close to its 52-week high of $93.90.

According to TipRanks.com, Vafi is a 5-star analyst with an average return of 26.3% and a 79.5% success rate. Vafi covers the Technology sector, focusing on stocks such as Fidelity National Info, Paypal Holdings, and ACI Worldwide.

The word on The Street in general, suggests a Strong Buy analyst consensus rating for Q2 Holdings with a $111.14 average price target, representing a 29.2% upside. In a report issued on February 19, Robert W. Baird also initiated coverage with a Buy rating on the stock with a $143.00 price target.

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Based on Q2 Holdings’ latest earnings release for the quarter ending December 31, the company reported a quarterly GAAP net loss of $15.67 million. In comparison, last year the company had a GAAP net loss of $11.86 million.

Based on the recent corporate insider activity of 106 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of QTWO in relation to earlier this year.

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Q2 Holdings, Inc. engages in the provision of digital banking solutions. Its services offers security, advisory, web services, custom services and end user marketing solutions. The company was founded by Robert H. Seale III on March 31, 2005 and is headquartered in Austin, TX.