Q2 Holdings, Inc. (NYSE:QTWO) Given Average Recommendation of “Moderate Buy” by Brokerages

Q2 Holdings, Inc. (NYSE:QTWO) has been assigned an average rating of “Moderate Buy” from the thirteen brokerages that are covering the company, Marketbeat Ratings reports. Three investment analysts have rated the stock with a hold recommendation, eight have given a buy recommendation and two have issued a strong buy recommendation on the company. The average 12 month price target among brokers that have covered the stock in the last year is $76.1667.

A number of research analysts recently weighed in on the stock. Royal Bank Of Canada raised their price target on shares of Q2 from $67.00 to $73.00 and gave the company a “sector perform” rating in a research note on Monday, August 31st. DA Davidson reiterated a “buy” rating and set a $82.00 price objective on shares of Q2 in a research note on Thursday, July 23rd. Stifel Nicolaus increased their target price on Q2 from $70.00 to $75.00 and gave the company a “buy” rating in a report on Thursday, July 30th. Weiss Ratings upgraded Q2 from a “hold (c-)” rating to a “hold (c)” rating in a research report on Friday, July 31st. Finally, Piper Sandler started coverage on Q2 in a research note on Thursday, September 10th. They issued an “overweight” rating and a $82.00 price target on the stock.

Q2 Price Performance

Shares of QTWO stock opened at $58.59 on Friday. Q2 has a 1-year low of $40.79 and a 1-year high of $84.70. The company has a market cap of $3.65 billion, a price-to-earnings ratio of 41.85 and a beta of 1.33. The stock has a 50 day simple moving average of $60.72 and a 200-day simple moving average of $52.51.

Q2 (NYSE:QTWO) last issued its quarterly earnings results on Wednesday, July 29th. The technology company reported $0.70 EPS for the quarter, topping the consensus estimate of $0.68 by $0.02. The company had revenue of $219.77 million during the quarter, compared to analyst estimates of $216.86 million. Q2 had a net margin of 10.87% and a return on equity of 17.04%. The firm’s revenue was up 12.6% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.18 EPS. Analysts anticipate that Q2 will post 1.8 earnings per share for the current fiscal year.

Insider Activity at Q2

In other Q2 news, General Counsel Michael Kerr sold 636 shares of the firm’s stock in a transaction on Friday, September 11th. The stock was sold at an average price of $60.96, for a total value of $38,770.56. Following the transaction, the general counsel owned 80,739 shares in the company, valued at approximately $4,921,849.44. This trade represents a 0.78% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible 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 Q2 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 directly owned 207,633 shares in the company, valued at approximately $13,643,564.43. This trade represents a 27.10% decrease in their position. The SEC filing for this sale provides additional information. In the last ninety days, insiders sold 87,816 shares of company stock valued at $5,740,968. 0.88% of the stock is owned by insiders.

Institutional Trading of Q2

Several large investors have recently bought and sold shares of the business. Root Financial Partners LLC purchased a new position in Q2 in the 1st quarter worth approximately $25,000. Optiver Holding B.V. increased its holdings in shares of Q2 by 1,578.9% in the first quarter. Optiver Holding B.V. now owns 638 shares of the technology company’s stock valued at $30,000 after purchasing an additional 600 shares during the last quarter. Allworth Financial LP lifted its position 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 buying an additional 364 shares in the last quarter. Harbor Investment Advisory LLC purchased a new position in Q2 during the second quarter worth approximately $61,000. Finally, Global Retirement Partners LLC boosted its stake in Q2 by 2,831.9% during the fourth quarter. Global Retirement Partners LLC now owns 1,378 shares of the technology company’s stock worth $99,000 after buying an additional 1,331 shares during the last quarter.

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.