Fintel reports that on July 12, 2023, Goldman Sachs initiated coverage of Q2 Holdings (NYSE:QTWO) with a Buy recommendation.

Analyst Price Forecast Suggests 3.61% Downside

As of July 6, 2023, the average one-year price target for Q2 Holdings is 30.84. The forecasts range from a low of 24.24 to a high of $37.80. The average price target represents a decrease of 3.61% from its latest reported closing price of 31.99.

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The projected annual revenue for Q2 Holdings is 659MM, an increase of 12.80%. The projected annual non-GAAP EPS is 0.53.

What is the Fund Sentiment?

There are 474 funds or institutions reporting positions in Q2 Holdings. This is a decrease of 4 owner(s) or 0.84% in the last quarter. Average portfolio weight of all funds dedicated to QTWO is 0.19%, a decrease of 9.72%. Total shares owned by institutions decreased in the last three months by 5.15% to 72,545K shares. The put/call ratio of QTWO is 0.37, indicating a bullish outlook.

What are Other Shareholders Doing?

Wasatch Advisors holds 3,641K shares representing 6.26% ownership of the company. In it's prior filing, the firm reported owning 2,795K shares, representing an increase of 23.24%. The firm increased its portfolio allocation in QTWO by 10.40% over the last quarter.

Brown Capital Management holds 3,315K shares representing 5.70% ownership of the company. In it's prior filing, the firm reported owning 3,148K shares, representing an increase of 5.04%. The firm decreased its portfolio allocation in QTWO by 12.81% over the last quarter.

Jpmorgan Chase holds 2,481K shares representing 4.26% ownership of the company. In it's prior filing, the firm reported owning 2,760K shares, representing a decrease of 11.24%. The firm decreased its portfolio allocation in QTWO by 23.89% over the last quarter.

Wellington Management Group Llp holds 2,287K shares representing 3.93% ownership of the company. In it's prior filing, the firm reported owning 2,816K shares, representing a decrease of 23.11%. The firm decreased its portfolio allocation in QTWO by 89.62% over the last quarter.

Conestoga Capital Advisors holds 2,218K shares representing 3.81% ownership of the company. In it's prior filing, the firm reported owning 2,184K shares, representing an increase of 1.57%. The firm increased its portfolio allocation in QTWO by 83,208.45% over the last quarter.

Q2 Holdings Background Information
(This description is provided by the company.)

Q2 is a financial experience company dedicated to providing digital banking and lending solutions to banks, credit unions, alternative finance, and fintech companies in the U.S. and internationally. With comprehensive end-to-end solution sets, Q2 enables its partners to provide cohesive, secure, data-driven experiences to every account holder - from consumer to small business and corporate. Headquartered in Austin, Texas, Q2 has offices throughout the world.

Additional reading:

• Q2 HOLDINGS, INC. 2023 EQUITY INCENTIVE PLAN Q2 Holdings, Inc. 2023 Equity Incentive Plan
• Q2 Holdings, Inc. Announces First Quarter 2023 Financial Results
• AMENDED AND RESTATED EXECUTIVE EMPLOYMENT AGREEMENT
• Q2 Announces Promotion of Kirk Coleman to President Coleman to Lead Day-to-Day Business Operations
• Q2 HOLDINGS, INC. NOTICE OF GRANT OF PSUS PERFORMANCE STOCK UNITS AGREEMENT