Q2 (NYSE:QTWO) Stock Moved Up to Buy by Wall Street Zen

by · The Cerbat Gem

Wall Street Zen upgraded shares of Q2 (NYSE:QTWO – Free Report) from a hold rating to a buy rating in a report issued on Saturday morning,Wall Street Zen reports.

QTWO has been the subject of several other research reports. Weiss Ratings upgraded shares of Q2 from a “hold (c-)” rating to a “hold (c)” rating in a report on Friday, July 31st. Stifel Nicolaus boosted their price target on shares of Q2 from $70.00 to $75.00 and gave the stock a “buy” rating in a report on Thursday, July 30th. DA Davidson reaffirmed a “buy” rating and issued a $82.00 price objective on shares of Q2 in a research report on Thursday, July 23rd. Morgan Stanley increased 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. Finally, Piper Sandler reiterated an “overweight” rating and issued a $82.00 price objective on shares of Q2 in a research note on Tuesday, September 22nd. Nine equities research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $76.17.

Check Out Our Latest Analysis on QTWO

Q2 Stock Down 0.1%

Shares of Q2 stock opened at $58.64 on Friday. The company has a market cap of $3.66 billion, a PE ratio of 41.88 and a beta of 1.34. Q2 has a 52 week low of $40.79 and a 52 week high of $76.24. The business has a 50 day moving average price of $61.04 and a 200-day moving average price of $53.21.

Q2 (NYSE:QTWO – Get Free Report) last posted its earnings results on Wednesday, July 29th. The technology company reported $0.70 earnings per share for the quarter, beating 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 last year, the company earned $0.18 earnings per share. The company’s revenue for the quarter was up 12.6% on a year-over-year basis. As a group, research analysts anticipate that Q2 will post 1.80 EPS for the current year.

Insider Activity

In related news, CFO Jonathan Price sold 77,180 shares of the business’s 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. The trade was a 27.10% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Kimberly Rutledge sold 10,000 shares of the stock in a transaction dated Monday, August 10th. The stock was sold at an average price of $63.07, for a total value of $630,700.00. Following the sale, the insider directly owned 113,913 shares in the company, valued at $7,184,492.91. This trade represents a 8.07% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last three months, insiders sold 87,816 shares of company stock worth $5,740,968. 0.88% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Q2

Several hedge funds and other institutional investors have recently modified their holdings of QTWO. Cim Investment Management Inc. lifted its holdings in shares of Q2 by 7.4% in the second quarter. Cim Investment Management Inc. now owns 9,050 shares of the technology company’s stock worth $435,000 after buying an additional 625 shares in the last quarter. Tidal Investments LLC increased its holdings in Q2 by 22.4% during the 2nd 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 period. WINTON GROUP Ltd bought a new stake in Q2 during the 2nd quarter worth approximately $413,000. Integrated Wealth Concepts LLC bought a new stake in Q2 during the 2nd quarter worth approximately $71,000. Finally, Allworth Financial LP lifted its stake in Q2 by 48.1% in the 2nd quarter. Allworth Financial LP now owns 1,120 shares of the technology company’s stock worth $54,000 after purchasing an additional 364 shares in the last quarter.

Q2 Company Profile

(Get Free Report)

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.

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