Zacks Research downgraded shares of Q2 (NYSE:QTWO – Free Report) from a strong-buy rating to a hold rating in a research report sent to investors on Monday morning,Zacks reports.
A number of other research firms also recently issued reports on QTWO. Weiss Ratings upgraded shares of Q2 from a “hold (c-)” rating to a “hold (c)” rating in a report on Friday, July 31st. Morgan Stanley raised their target price on shares of Q2 from $63.00 to $68.00 and gave the company an “equal weight” rating in a research report on Friday, July 31st. Needham & Company LLC lifted their price target on shares of Q2 from $70.00 to $75.00 and gave the company a “buy” rating in a research note on Thursday, July 30th. DA Davidson reissued a “buy” rating and set a $82.00 price target on shares of Q2 in a research report on Thursday, July 23rd. Finally, Stifel Nicolaus raised their price objective on Q2 from $70.00 to $75.00 and gave the company a “buy” rating in a report on Thursday, July 30th. Nine investment analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $76.17.
Check Out Our Latest Research Report on QTWO
Q2 Price Performance
Q2 (NYSE:QTWO – Get Free Report) last posted its quarterly earnings data on Wednesday, July 29th. The technology company reported $0.70 earnings per share (EPS) 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 business had revenue of $219.77 million during the quarter, compared to the consensus estimate of $216.86 million. During the same period last year, the company earned $0.18 earnings per share. Q2’s quarterly revenue was up 12.6% on a year-over-year basis. On average, equities analysts expect that Q2 will post 1.8 EPS for the current year.
Insider Buying and Selling
In other Q2 news, CFO Jonathan Price sold 77,180 shares of the company’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 approximately $13,643,564.43. This represents a 27.10% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, General Counsel Michael Kerr sold 636 shares of the 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 owned 80,739 shares of the company’s stock, valued at approximately $4,921,849.44. This represents a 0.78% decrease in their position. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last three months, insiders have sold 87,816 shares of company stock worth $5,740,968. Insiders own 0.88% of the company’s stock.
Hedge Funds Weigh In On Q2
A number of institutional investors have recently bought and sold shares of the business. Cim Investment Management Inc. raised its stake in Q2 by 7.4% in the second quarter. Cim Investment Management Inc. now owns 9,050 shares of the technology company’s stock valued at $435,000 after buying an additional 625 shares during the period. Tidal Investments LLC lifted 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 valued at $12,077,000 after purchasing an additional 45,927 shares during the last quarter. WINTON GROUP Ltd acquired a new stake in Q2 during the 2nd quarter valued at $413,000. Integrated Wealth Concepts LLC bought a new position in Q2 during the second quarter worth $71,000. Finally, Allworth Financial LP boosted 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 purchasing an additional 364 shares during the period.
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.
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