Q2 (NYSE:QTWO) Receives “Overweight” Rating from Piper Sandler

Q2 (NYSE:QTWO)‘s stock had its “overweight” rating reiterated by Piper Sandler in a note issued to investors on Tuesday, Benzinga reports. They currently have a $82.00 price objective on the technology company’s stock. Piper Sandler’s price target suggests a potential upside of 45.04% from the stock’s current price.

A number of other analysts have also recently weighed in on QTWO. Wall Street Zen cut shares of Q2 from a “buy” rating to a “hold” rating in a report on Saturday, August 29th. Stifel Nicolaus increased their target price on shares of Q2 from $70.00 to $75.00 and gave the stock a “buy” rating in a report on Thursday, July 30th. UBS Group set a $68.00 target price on shares of Q2 in a report on Friday, July 31st. Needham & Company LLC increased their target price on shares of Q2 from $70.00 to $75.00 and gave the stock a “buy” rating in a report on Thursday, July 30th. Finally, Royal Bank Of Canada increased their price objective on shares of Q2 from $67.00 to $73.00 and gave the stock a “sector perform” rating in a report on Monday, August 31st. One 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 stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $76.17.

Q2 Price Performance

NYSE QTWO opened at $56.54 on Tuesday. Q2 has a 12 month low of $40.79 and a 12 month high of $76.24. The company has a market capitalization of $3.53 billion, a price-to-earnings ratio of 40.38 and a beta of 1.33. The company’s fifty day moving average price is $61.00 and its two-hundred day moving average price is $52.68.

Q2 (NYSE:QTWO) last posted its quarterly earnings data 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 firm had revenue of $219.77 million for the quarter, compared to the consensus estimate of $216.86 million. During the same period in the prior year, the firm posted $0.18 EPS. The firm’s revenue was up 12.6% compared to the same quarter last year. As a group, analysts anticipate that Q2 will post 1.8 EPS for the current year.

Insider Activity at Q2

In related news, CFO Jonathan Price sold 77,180 shares of the business’s stock in a transaction that occurred 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 $13,643,564.43. The trade was a 27.10% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, 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 transaction, the insider directly owned 113,913 shares of the company’s stock, valued at approximately $7,184,492.91. The trade was a 8.07% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 87,816 shares of company stock worth $5,740,968 over the last quarter. 0.88% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the business. Capital Research Global Investors increased its position in shares of Q2 by 86.2% in the fourth quarter. Capital Research Global Investors now owns 3,141,044 shares of the technology company’s stock worth $226,658,000 after acquiring an additional 1,454,076 shares in the last quarter. Assenagon Asset Management S.A. grew its position in Q2 by 119.0% during the first quarter. Assenagon Asset Management S.A. now owns 1,210,419 shares of the technology company’s stock valued at $57,253,000 after purchasing an additional 657,707 shares in the last quarter. Norges Bank purchased a new position in Q2 during the fourth quarter valued at approximately $44,960,000. Bank of New York Mellon Corp purchased a new position in Q2 during the second quarter valued at approximately $19,639,000. Finally, Arrowstreet Capital Limited Partnership grew its position in Q2 by 139.1% during the first quarter. Arrowstreet Capital Limited Partnership now owns 516,246 shares of the technology company’s stock valued at $24,418,000 after purchasing an additional 300,375 shares in the last quarter.

About Q2

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.