Cloud banking software firm Q2 turns in strong IPO

|About: Q2 Holdings, Inc. (QTWO)|By:, SA News Editor

After pricing its IPO at $13 (the high end of an $11-$13 range), Q2 (QTWO) opened at $16.50 and is now at $16.71, up 28.5%.

The provider of cloud-based software for regional/community banks sold 7.8M shares (6.25M new shares, and 1.51M on behalf of existing holders), and currently has a market cap of $533M.

Q2 had 2013 revenue of $56.9M (+38% Y/Y), and a net loss of $17.9M. Shares currently go for 9.3x trailing sales.

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