Digital banking and lending solutions company Q2 Holdings (QTWO) and Bitcoin technology company NYDIG have announced a collaboration to help 18.3 million registered users of the Q2 platform buy, sell and hold Bitcoin.
The move will help Q2 take advantage of NYDIG’s secure, regulated Bitcoin platform and offer a seamless Bitcoin transaction experience to its institutional clients.
EVP of Emerging Business, Corporate and Business Development at Q2, Jonathan Price, said, “According to a December 2020 study by Cornerstone Advisors, 15% of U.S. consumers own Bitcoin or some other form of cryptocurrency. The consumer survey also revealed that the majority of these crypto owners would use their banks to invest in cryptocurrency if they had the choice to do so. We are excited to work with NYDIG to enable financial institutions to take advantage of this market opportunity and meet the demands of their account holders.” (See Q2 stock chart on TipRanks)
Last month, D.A. Davidson analyst Peter Heckmann upgraded the stock to a Buy with a price target of $114 (6.2% upside potential).
Consensus among analysts is a Strong Buy based on 9 Buys and 2 Holds. The average Q2 analyst price target of $131.11 implies upside potential of 22.1% from current levels. Shares of the company have gained 28% over the past year.
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