Wall Street Zen upgraded shares of Q2 (NYSE:QTWO – Free Report) from a hold rating to a buy rating in a research report sent to investors on Saturday,Wall Street Zen reports.
QTWO has been the topic of several other research reports. Stifel Nicolaus raised their target price 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. JPMorgan Chase & Co. boosted their price target on shares of Q2 from $60.00 to $72.00 and gave the stock an “overweight” rating in a research note on Monday, August 24th. 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 report on Friday, July 31st. Weiss Ratings upgraded shares of Q2 from a “hold (c-)” rating to a “hold (c)” rating in a report on Friday, July 31st. Finally, DA Davidson reaffirmed a “buy” rating and issued a $82.00 price objective on shares of Q2 in a research note on Thursday, July 23rd. Nine equities research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $76.17.
Read Our Latest Stock Analysis on Q2
Q2 Stock Up 1.3%
Q2 (NYSE:QTWO – Get Free Report) last announced its quarterly earnings data on Wednesday, July 29th. The technology company reported $0.70 EPS for the quarter, topping analysts’ consensus estimates of $0.68 by $0.02. The firm had revenue of $219.77 million during the quarter, compared to analyst estimates of $216.86 million. Q2 had a return on equity of 17.04% and a net margin of 10.87%. The company’s revenue was up 12.6% on a year-over-year basis. During the same period last year, the company earned $0.18 earnings per share. Analysts anticipate that Q2 will post 1.80 EPS for the current year.
Insiders Place Their Bets
In other Q2 news, General Counsel Michael Kerr sold 636 shares of the business’s stock in a transaction dated Friday, September 11th. The stock was sold at an average price of $60.96, for a total value of $38,770.56. Following the completion of the transaction, the general counsel directly owned 80,739 shares of the company’s stock, valued at approximately $4,921,849.44. The trade was a 0.78% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. 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 completion of the sale, the insider owned 113,913 shares of the company’s stock, valued at $7,184,492.91. This trade represents a 8.07% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last ninety days, insiders have sold 87,816 shares of company stock worth $5,740,968. Corporate insiders own 0.88% of the company’s stock.
Hedge Funds Weigh In On Q2
Several institutional investors and hedge funds have recently modified their holdings of the business. Cim Investment Management Inc. increased its stake in Q2 by 7.4% during the 2nd quarter. Cim Investment Management Inc. now owns 9,050 shares of the technology company’s stock worth $435,000 after purchasing an additional 625 shares in the last quarter. Tidal Investments LLC raised 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 buying an additional 45,927 shares during the period. WINTON GROUP Ltd bought a new position in Q2 in the second quarter valued at approximately $413,000. Integrated Wealth Concepts LLC bought a new position in Q2 in the second quarter valued at approximately $71,000. Finally, Allworth Financial LP lifted its stake in Q2 by 48.1% in the second quarter. Allworth Financial LP now owns 1,120 shares of the technology company’s stock valued at $54,000 after buying an additional 364 shares in the last quarter.
About Q2
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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