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

Q2 (NYSE:QTWO)‘s stock had its “overweight” rating reissued by investment analysts at Piper Sandler in a report released on Tuesday, September 22nd, Benzinga reports. They currently have a $82.00 price target on the technology company’s stock. Piper Sandler’s price target indicates a potential upside of 48.69% from the stock’s previous close.

A number of other equities analysts have also recently issued reports on the stock. DA Davidson reiterated a “buy” rating and set a $82.00 price objective on shares of Q2 in a research report on Thursday, July 23rd. Wall Street Zen cut shares of Q2 from a “buy” rating to a “hold” rating in a research report on Saturday, August 29th. Stifel Nicolaus upped their price target on shares of Q2 from $70.00 to $75.00 and gave the company a “buy” rating in a research report on Thursday, July 30th. Royal Bank Of Canada upped their price target on shares of Q2 from $67.00 to $73.00 and gave the company a “sector perform” rating in a research report on Monday, August 31st. Finally, Zacks Research upgraded shares of Q2 from a “hold” rating to a “strong-buy” rating in a research report on Thursday, July 30th. One equities research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and three have given a Hold rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $76.17.

Q2 Price Performance

QTWO stock traded up $0.05 during trading on Tuesday, reaching $55.15. 550,758 shares of the company were exchanged, compared to its average volume of 870,028. The company has a 50-day moving average of $61.01 and a two-hundred day moving average of $52.73. The company has a market capitalization of $3.44 billion, a price-to-earnings ratio of 39.39 and a beta of 1.33. Q2 has a twelve month low of $40.79 and a twelve month high of $76.24.

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

Insider Transactions at Q2

In other news, General Counsel Michael Kerr sold 636 shares of the stock in a transaction on Friday, September 11th. The shares were sold at an average price of $60.96, for a total transaction of $38,770.56. Following the completion of the sale, the general counsel directly owned 80,739 shares in the company, valued at $4,921,849.44. This represents a 0.78% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. 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 sale, the chief financial officer 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. The SEC filing for this sale provides additional information. Insiders sold a total of 87,816 shares of company stock worth $5,740,968 over the last three months. 0.88% of the stock is owned by company insiders.

Institutional Investors Weigh In On Q2

Several large investors have recently modified their holdings of QTWO. Tidal Investments LLC increased 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 buying an additional 45,927 shares during the period. WINTON GROUP Ltd bought a new position in Q2 during the second quarter worth $413,000. Integrated Wealth Concepts LLC bought a new position in Q2 during the second quarter worth $71,000. Allworth Financial LP boosted its stake in 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 in the last quarter. Finally, Nykredit A S bought a new position in 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.