Q2 (NYSE:QTWO) Upgraded at DA Davidson

DA Davidson upgraded shares of Q2 (NYSE:QTWO) from a neutral rating to a buy rating in a research note published on Tuesday morning, Marketbeat.com reports. They currently have $82.00 target price on the technology company’s stock.

Several other brokerages also recently weighed in on QTWO. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Q2 in a report on Thursday, January 22nd. Stephens set a $90.00 price objective on Q2 in a research report on Friday, January 16th. Royal Bank Of Canada dropped their price objective on Q2 from $102.00 to $86.00 and set a “sector perform” rating for the company in a research note on Thursday, November 6th. Cantor Fitzgerald cut their target price on Q2 from $110.00 to $90.00 and set an “overweight” rating for the company in a research report on Wednesday, October 29th. Finally, UBS Group set a $90.00 price target on Q2 in a report on Thursday, November 6th. Nine research analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company. According to data from MarketBeat, Q2 presently has a consensus rating of “Moderate Buy” and an average target price of $92.27.

Q2 Trading Down 4.3%

Q2 stock opened at $55.13 on Tuesday. The firm has a 50 day moving average of $69.71 and a 200 day moving average of $72.22. The firm has a market capitalization of $3.45 billion, a price-to-earnings ratio of 114.85 and a beta of 1.36. Q2 has a 12-month low of $54.63 and a 12-month high of $102.07.

Q2 (NYSE:QTWO) last issued its quarterly earnings results on Wednesday, November 5th. The technology company reported $0.23 earnings per share for the quarter, missing the consensus estimate of $0.55 by ($0.32). The firm had revenue of $201.70 million for the quarter, compared to analysts’ expectations of $197.87 million. Q2 had a net margin of 4.12% and a return on equity of 10.92%. Q2’s revenue for the quarter was up 15.2% compared to the same quarter last year. During the same period in the prior year, the firm earned ($0.20) EPS. On average, analysts predict that Q2 will post 0.67 EPS for the current year.

Insider Buying and Selling

In related news, insider Kirk L. Coleman sold 8,559 shares of the stock in a transaction that occurred on Wednesday, December 10th. The stock was sold at an average price of $73.68, for a total transaction of $630,627.12. Following the completion of the transaction, the insider directly owned 269,128 shares of the company’s stock, valued at approximately $19,829,351.04. This represents a 3.08% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CRO Michael A. Volanoski sold 5,123 shares of Q2 stock in a transaction that occurred on Friday, December 12th. The stock was sold at an average price of $75.46, for a total value of $386,581.58. Following the completion of the sale, the executive directly owned 166,512 shares in the company, valued at approximately $12,564,995.52. The trade was a 2.98% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders have sold 20,883 shares of company stock worth $1,547,778. Corporate insiders own 0.31% of the company’s stock.

Hedge Funds Weigh In On Q2

Large investors have recently modified their holdings of the stock. Headlands Technologies LLC bought a new stake in Q2 in the second quarter worth $26,000. Measured Wealth Private Client Group LLC purchased a new stake in shares of Q2 in the third quarter valued at $26,000. Cullen Frost Bankers Inc. bought a new stake in shares of Q2 in the 3rd quarter worth about $27,000. Salomon & Ludwin LLC purchased a new position in shares of Q2 during the 3rd quarter worth about $30,000. Finally, First Horizon Corp bought a new position in Q2 during the 3rd quarter valued at about $37,000.

About Q2

Q2 Holdings, Inc develops and delivers cloud-based digital banking solutions that enable banks and credit unions to enhance customer and member experiences. The company’s core offerings include the Q2 Platform, a comprehensive suite of online and mobile banking applications for retail and commercial customers, as well as digital onboarding, payments, and fraud prevention tools. Q2’s platform also provides analytics and reporting capabilities designed to help financial institutions tailor products, optimize workflows, and drive engagement.

Founded in 2004 and headquartered in Austin, Texas, Q2 serves hundreds of financial institutions across the United States and Canada.