Q2 (NYSE:QTWO – Get Free Report) had its price objective increased by equities research analysts at JPMorgan Chase & Co. from $60.00 to $72.00 in a report issued on Monday,Benzinga reports. The firm currently has an “overweight” rating on the technology company’s stock. JPMorgan Chase & Co.‘s price target suggests a potential upside of 12.97% from the company’s previous close.
QTWO has been the topic of a number of other research reports. Stifel Nicolaus raised 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. Wall Street Zen upgraded Q2 from a “hold” rating to a “buy” rating in a report on Saturday, August 1st. Needham & Company LLC lifted their price objective on shares of Q2 from $70.00 to $75.00 and gave the stock a “buy” rating in a report on Thursday, July 30th. Morgan Stanley upped their target price on shares of Q2 from $63.00 to $68.00 and gave the stock an “equal weight” rating in a research note on Friday, July 31st. Finally, Weiss Ratings upgraded shares of Q2 from a “hold (c-)” rating to a “hold (c)” rating in a research note on Friday, July 31st. One analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $75.09.
Check Out Our Latest Report on Q2
Q2 Stock Performance
Q2 (NYSE:QTWO – Get Free Report) last issued its earnings results 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 return on equity of 17.04% and a net margin of 10.87%.The business had revenue of $219.77 million during the quarter, compared to analyst estimates of $216.86 million. During the same period in the previous year, the company posted $0.18 EPS. The firm’s revenue was up 12.6% compared to the same quarter last year. As a group, sell-side analysts expect that Q2 will post 1.84 EPS for the current fiscal year.
Insider Buying and Selling at Q2
In other Q2 news, insider Kimberly Anne Rutledge sold 10,000 shares of the stock in a transaction that occurred 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 sale, the insider directly owned 113,913 shares in the company, valued at $7,184,492.91. This represents a 8.07% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Jonathan Price sold 77,180 shares of Q2 stock in a transaction on Thursday, August 13th. The shares were sold at an average price of $65.71, for a total value 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 position. The disclosure for this sale is available in the SEC filing. Corporate insiders own 0.88% of the company’s stock.
Institutional Trading of Q2
Several institutional investors and hedge funds have recently modified their holdings of the business. California State Teachers Retirement System raised its holdings in Q2 by 0.3% during the second quarter. California State Teachers Retirement System now owns 55,842 shares of the technology company’s stock worth $5,226,000 after purchasing an additional 194 shares during the last quarter. Maryland State Retirement & Pension System increased its position in shares of Q2 by 2.2% in the fourth quarter. Maryland State Retirement & Pension System now owns 9,174 shares of the technology company’s stock valued at $662,000 after buying an additional 197 shares in the last quarter. Oregon Public Employees Retirement Fund raised its stake in shares of Q2 by 1.4% during the 4th quarter. Oregon Public Employees Retirement Fund now owns 14,300 shares of the technology company’s stock worth $1,032,000 after buying an additional 200 shares during the last quarter. Advisors Asset Management Inc. boosted its position in shares of Q2 by 35.0% in the 1st quarter. Advisors Asset Management Inc. now owns 849 shares of the technology company’s stock worth $68,000 after buying an additional 220 shares in the last quarter. Finally, Headlands Technologies LLC acquired a new stake in Q2 in the 2nd quarter valued at about $26,000.
Q2 Company Profile
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.
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