Q2 (NYSE:QTWO) Given “Overweight” Rating at Piper Sandler

Q2 (NYSE:QTWO)‘s stock had its “overweight” rating reiterated by equities researchers at Piper Sandler in a research note issued on Tuesday, Benzinga reports. They currently have a $82.00 target price on the technology company’s stock. Piper Sandler’s price objective would suggest a potential upside of 45.86% from the stock’s current price.

A number of other analysts have also recently commented on the stock. Weiss Ratings raised shares of Q2 from a “hold (c-)” rating to a “hold (c)” rating in a report on Friday, July 31st. Zacks Research raised shares of Q2 from a “hold” rating to a “strong-buy” rating in a report on Thursday, July 30th. Needham & Company LLC upped their target price on shares of Q2 from $70.00 to $75.00 and gave the company a “buy” rating in a report on Thursday, July 30th. JPMorgan Chase & Co. upped their target price on shares of Q2 from $60.00 to $72.00 and gave the company an “overweight” rating in a report on Monday, August 24th. Finally, DA Davidson reaffirmed a “buy” rating and set a $82.00 target price on shares of Q2 in a report on Thursday, July 23rd. One research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat, Q2 currently has a consensus rating of “Moderate Buy” and a consensus target price of $76.17.

Q2 Price Performance

Q2 stock traded down $0.23 during midday trading on Tuesday, reaching $56.22. 503,202 shares of the company traded hands, compared to its average volume of 873,625. Q2 has a 12 month low of $40.79 and a 12 month high of $76.24. The firm has a market capitalization of $3.51 billion, a price-to-earnings ratio of 40.16 and a beta of 1.33. The business has a 50 day moving average of $61.00 and a two-hundred day moving average of $52.68.

Q2 (NYSE:QTWO) last announced its earnings results on Wednesday, July 29th. The technology company reported $0.70 EPS for the quarter, beating analysts’ consensus estimates of $0.68 by $0.02. Q2 had a net margin of 10.87% and a return on equity of 17.04%. The business had revenue of $219.77 million during the quarter, compared to analysts’ expectations of $216.86 million. During the same period in the prior year, the company earned $0.18 earnings per share. The firm’s revenue was up 12.6% on a year-over-year basis. As a group, equities analysts forecast that Q2 will post 1.8 EPS for the current year.

Insider Transactions at Q2

In other news, insider Kimberly Rutledge sold 10,000 shares of the stock in a transaction on Monday, August 10th. The shares were sold at an average price of $63.07, for a total value of $630,700.00. Following the completion of the sale, the insider directly owned 113,913 shares of the company’s stock, valued at $7,184,492.91. This represents a 8.07% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Jonathan Price sold 77,180 shares of the stock in a transaction on Thursday, August 13th. The stock was sold at an average price of $65.71, for a total transaction of $5,071,497.80. Following the completion of the sale, the chief financial officer directly owned 207,633 shares of the company’s stock, valued at approximately $13,643,564.43. This trade represents a 27.10% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 87,816 shares of company stock valued at $5,740,968 over the last three months. Corporate insiders own 0.88% of the company’s stock.

Hedge Funds Weigh In On Q2

A number of hedge funds and other institutional investors have recently modified their holdings of QTWO. Tidal Investments LLC boosted its position in shares of Q2 by 22.4% during the second quarter. Tidal Investments LLC now owns 251,079 shares of the technology company’s stock worth $12,077,000 after acquiring an additional 45,927 shares during the last quarter. WINTON GROUP Ltd bought a new position in shares of Q2 during the second quarter worth $413,000. Integrated Wealth Concepts LLC bought a new position in shares of Q2 during the second quarter worth $71,000. Allworth Financial LP boosted its position in shares of Q2 by 48.1% during the second quarter. Allworth Financial LP now owns 1,120 shares of the technology company’s stock worth $54,000 after acquiring an additional 364 shares during the last quarter. Finally, Nykredit A S bought a new position in shares of Q2 during the second quarter worth $110,000.

Q2 Company Profile

Q2 Holdings, Inc provides digital transformation solutions for banks, credit unions, fintech companies and other financial institutions. Its cloud-based technology is designed to help these organizations deliver digital banking experiences across online and mobile channels while supporting customer engagement, account opening and financial product access.

The company’s offerings include digital banking software, lending and loan-origination technology, financial data and analytics tools, and solutions for payment, fraud and financial crime management.