Q2 (NYSE:QTWO – Get Free Report) was downgraded by research analysts at Zacks Research from a “strong-buy” rating to a “hold” rating in a report issued on Monday, Zacks reports.
Several other equities research analysts also recently issued reports on QTWO. UBS Group set a $68.00 price objective on Q2 in a report on Friday, July 31st. Piper Sandler reaffirmed an “overweight” rating and issued a $82.00 target price on shares of Q2 in a research report on Tuesday, September 22nd. 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 research note on Thursday, July 30th. Wall Street Zen lowered shares of Q2 from a “buy” rating to a “hold” rating in a research note on Saturday, August 29th. Finally, DA Davidson reiterated a “buy” rating and issued a $82.00 target price on shares of Q2 in a report on Thursday, July 23rd. Nine 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.com, Q2 presently has a consensus rating of “Moderate Buy” and a consensus target price of $76.17.
Check Out Our Latest Stock Report on QTWO
Q2 Price Performance
Q2 (NYSE:QTWO – Get Free Report) last announced its earnings results on Wednesday, July 29th. The technology company reported $0.70 earnings per share (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 company had revenue of $219.77 million for the quarter, compared to analyst estimates of $216.86 million. During the same quarter in the previous year, the company earned $0.18 earnings per share. The firm’s quarterly revenue was up 12.6% compared to the same quarter last year. As a group, analysts anticipate that Q2 will post 1.8 EPS for the current year.
Insider Activity at Q2
In related news, insider Kimberly Rutledge sold 10,000 shares of the stock in a transaction on Monday, August 10th. The shares were sold at an average price of $63.07, for a total transaction of $630,700.00. Following the completion of the sale, the insider owned 113,913 shares in the company, valued at $7,184,492.91. This represents a 8.07% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, 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 transaction of $38,770.56. Following the transaction, the general counsel directly owned 80,739 shares in the company, valued at $4,921,849.44. The trade was a 0.78% decrease in their ownership of the stock. 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. Insiders sold a total of 87,816 shares of company stock worth $5,740,968 in the last 90 days. 0.88% of the stock is owned by insiders.
Hedge Funds Weigh In On Q2
Several institutional investors have recently added to or reduced their stakes in the stock. Allworth Financial LP raised its position in Q2 by 48.1% during the 2nd quarter. Allworth Financial LP now owns 1,120 shares of the technology company’s stock worth $54,000 after buying an additional 364 shares during the last quarter. Versant Capital Management Inc boosted its holdings in shares of Q2 by 45.2% in the second quarter. Versant Capital Management Inc now owns 1,570 shares of the technology company’s stock valued at $76,000 after acquiring an additional 489 shares in the last quarter. Pacer Advisors Inc. boosted its holdings in shares of Q2 by 42.6% in the first quarter. Pacer Advisors Inc. now owns 1,656 shares of the technology company’s stock valued at $78,000 after acquiring an additional 495 shares in the last quarter. Root Financial Partners LLC acquired a new position in shares of Q2 during the first quarter worth about $25,000. Finally, Swiss National Bank increased its stake in shares of Q2 by 0.5% during the first quarter. Swiss National Bank now owns 123,700 shares of the technology company’s stock worth $5,851,000 after acquiring an additional 600 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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