Q2 (NYSE:QTWO) Raised to “Buy” at Wall Street Zen

Q2 (NYSE:QTWO) was upgraded by equities research analysts at Wall Street Zen from a “hold” rating to a “buy” rating in a note issued to investors on Saturday, Wall Street Zen reports.

QTWO has been the topic of several other reports. Stifel Nicolaus increased their target price on Q2 from $70.00 to $75.00 and gave the stock a “buy” rating in a research report on Thursday, July 30th. UBS Group set a $68.00 price target on Q2 in a research note on Friday, July 31st. Royal Bank Of Canada lifted their price target on Q2 from $67.00 to $73.00 and gave the company a “sector perform” rating in a report on Monday, August 31st. Piper Sandler reaffirmed an “overweight” rating and set a $82.00 price objective on shares of Q2 in a research note on Tuesday, September 22nd. Finally, Morgan Stanley upped their price objective on shares of Q2 from $63.00 to $68.00 and gave the company an “equal weight” rating in a research note on Friday, July 31st. Nine investment analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $76.17.

Q2 Stock Performance

Shares of QTWO opened at $58.64 on Friday. The stock has a fifty day moving average of $61.04 and a two-hundred day moving average of $53.25. The company has a market capitalization of $3.66 billion, a PE ratio of 41.88 and a beta of 1.34. Q2 has a fifty-two week low of $40.79 and a fifty-two week high of $76.24.

Q2 (NYSE:QTWO) last issued its quarterly earnings results on Wednesday, July 29th. The technology company reported $0.70 earnings per share for the quarter, topping analysts’ consensus estimates of $0.68 by $0.02. Q2 had a return on equity of 17.04% and a net margin of 10.87%. The company had revenue of $219.77 million for the quarter, compared to analyst estimates of $216.86 million. During the same quarter in the prior year, the company posted $0.18 EPS. The business’s revenue for the quarter was up 12.6% compared to the same quarter last year. As a group, equities research analysts forecast that Q2 will post 1.80 earnings per share for the current fiscal year.

Insider Buying and Selling at Q2

In other news, General Counsel Michael Kerr sold 636 shares of the business’s 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 of the company’s stock, valued at $4,921,849.44. The trade was a 0.78% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 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 business’s stock in a transaction on Thursday, August 13th. The shares were sold at an average price of $65.71, for a total transaction of $5,071,497.80. Following the sale, the chief financial officer directly owned 207,633 shares of the company’s stock, valued at $13,643,564.43. This represents a 27.10% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 87,816 shares of company stock worth $5,740,968 in the last quarter. 0.88% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in QTWO. Allworth Financial LP increased 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 during the last quarter. Versant Capital Management Inc raised its holdings in shares of Q2 by 45.2% in the 2nd quarter. Versant Capital Management Inc now owns 1,570 shares of the technology company’s stock worth $76,000 after purchasing an additional 489 shares during the period. Pacer Advisors Inc. lifted its stake in shares of Q2 by 42.6% in the 1st quarter. Pacer Advisors Inc. now owns 1,656 shares of the technology company’s stock valued at $78,000 after purchasing an additional 495 shares in the last quarter. Root Financial Partners LLC acquired a new position in shares of Q2 in the 1st quarter valued at about $25,000. Finally, Swiss National Bank grew its holdings in shares of Q2 by 0.5% during the 1st quarter. Swiss National Bank now owns 123,700 shares of the technology company’s stock worth $5,851,000 after purchasing an additional 600 shares during the period.

About Q2

Q2 Holdings, Inc is a financial technology company that provides cloud-based digital banking and lending solutions. Its software is designed primarily for banks, credit unions and other financial institutions seeking to deliver online and mobile banking services, automate financial workflows and improve engagement with consumers and businesses.

The company’s offerings include the Q2 Digital Banking Platform, which supports digital account access and financial services, as well as tools for lending, relationship pricing, profitability management and embedded finance.