Q2 (NYSE:QTWO) Given Buy Rating at DA Davidson

Q2 (NYSE:QTWO)‘s stock had its “buy” rating reiterated by equities research analysts at DA Davidson in a note issued to investors on Monday,Benzinga reports. They currently have a $82.00 target price on the technology company’s stock. DA Davidson’s price target suggests a potential upside of 56.28% from the stock’s current price.

Several other brokerages also recently issued reports on QTWO. Cantor Fitzgerald cut their price objective on Q2 from $90.00 to $80.00 and set an “overweight” rating for the company in a research report on Thursday, February 12th. Royal Bank Of Canada dropped their target price on Q2 from $86.00 to $67.00 and set a “sector perform” rating for the company in a research report on Thursday, February 12th. Wall Street Zen downgraded Q2 from a “buy” rating to a “hold” rating in a research report on Saturday. UBS Group set a $77.00 target price on Q2 in a research report on Thursday. Finally, Stifel Nicolaus set a $70.00 target price on Q2 in a research report on Thursday. Eight equities research analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $77.75.

Q2 Stock Up 2.4%

QTWO traded up $1.24 during trading on Monday, hitting $52.47. The company’s stock had a trading volume of 374,904 shares, compared to its average volume of 974,328. The firm’s 50 day moving average price is $49.10 and its two-hundred day moving average price is $60.61. Q2 has a 12 month low of $44.65 and a 12 month high of $96.68. The stock has a market capitalization of $3.28 billion, a price-to-earnings ratio of 46.84 and a beta of 1.39.

Q2 (NYSE:QTWO) last issued its quarterly earnings data on Wednesday, April 29th. The technology company reported $0.63 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.71 by ($0.08). Q2 had a net margin of 8.99% and a return on equity of 14.68%. The business had revenue of $216.51 million during the quarter, compared to the consensus estimate of $214.40 million. During the same quarter in the previous year, the firm posted $0.07 EPS. The company’s revenue for the quarter was up 14.1% compared to the same quarter last year. On average, sell-side analysts forecast that Q2 will post 1.64 earnings per share for the current year.

Insider Activity at Q2

In other news, insider John E. Breeden sold 6,076 shares of the business’s stock in a transaction on Monday, March 9th. The stock was sold at an average price of $51.35, for a total transaction of $312,002.60. Following the completion of the sale, the insider owned 84,236 shares in the company, valued at $4,325,518.60. The trade was a 6.73% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Kimberly Anne Rutledge sold 3,187 shares of the company’s stock in a transaction dated Wednesday, March 11th. The shares were sold at an average price of $50.37, for a total value of $160,529.19. Following the completion of the sale, the insider owned 80,551 shares of the company’s stock, valued at $4,057,353.87. This represents a 3.81% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 411,087 shares of company stock valued at $20,702,472 over the last quarter. 3.00% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Q2

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Root Financial Partners LLC bought a new stake in Q2 in the first quarter valued at about $25,000. Headlands Technologies LLC bought a new stake in Q2 in the second quarter valued at about $26,000. Measured Wealth Private Client Group LLC bought a new stake in Q2 in the third quarter valued at about $26,000. Cullen Frost Bankers Inc. bought a new stake in Q2 in the third quarter valued at about $27,000. Finally, Caitong International Asset Management Co. Ltd bought a new stake in Q2 in the fourth quarter valued at about $27,000.

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.