Q2 (NYSE:QTWO) Rating Lowered to “Hold” at Wall Street Zen

Q2 (NYSE:QTWO) was downgraded by investment analysts at Wall Street Zen from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Saturday.

QTWO has been the topic of several other reports. Needham & Company LLC upped their target price on Q2 from $70.00 to $75.00 and gave the stock a “buy” rating in a research report on Thursday, July 30th. Stifel Nicolaus lifted their price target on Q2 from $70.00 to $75.00 and gave the company a “buy” rating in a report on Thursday, July 30th. Zacks Research upgraded Q2 from a “hold” rating to a “strong-buy” rating in a report on Thursday, July 30th. DA Davidson reissued a “buy” rating and issued a $82.00 price target on shares of Q2 in a research note on Thursday, July 23rd. Finally, Weiss Ratings upgraded Q2 from a “hold (c-)” rating to a “hold (c)” rating in a report on Friday, July 31st. One investment 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’s stock. According to MarketBeat.com, Q2 presently has a consensus rating of “Moderate Buy” and an average price target of $75.09.

Q2 Stock Down 0.2%

Shares of NYSE:QTWO opened at $64.97 on Friday. The firm has a fifty day moving average of $57.03 and a two-hundred day moving average of $51.46. Q2 has a 12-month low of $40.79 and a 12-month high of $85.19. The firm has a market capitalization of $4.05 billion, a P/E ratio of 46.41 and a beta of 1.30.

Q2 (NYSE:QTWO) last posted its quarterly earnings results on Wednesday, July 29th. The technology company reported $0.70 earnings per share for the quarter, topping analysts’ consensus estimates of $0.68 by $0.02. Q2 had a net margin of 10.87% and a return on equity of 17.04%. The business had revenue of $219.77 million for the quarter, compared to the consensus estimate of $216.86 million. During the same period in the prior year, the business posted $0.18 earnings per share. Q2’s revenue for the quarter was up 12.6% compared to the same quarter last year. Equities research analysts expect that Q2 will post 1.84 earnings per share for the current fiscal year.

Insider Activity

In related news, insider Kimberly Anne Rutledge sold 10,000 shares of the business’s stock in a transaction that occurred on 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 directly owned 113,913 shares in the company, valued at approximately $7,184,492.91. The trade was a 8.07% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Jonathan Price sold 77,180 shares of the company’s stock in a transaction that occurred on Thursday, August 13th. The stock was 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. The trade was a 27.10% decrease in their position. The SEC filing for this sale provides additional information. Corporate insiders own 0.88% of the company’s stock.

Institutional Trading of Q2

A number of institutional investors and hedge funds have recently modified their holdings of QTWO. Root Financial Partners LLC acquired a new position in Q2 in the 1st quarter valued at $25,000. Headlands Technologies LLC acquired a new position in Q2 during the 2nd quarter worth $26,000. Measured Wealth Private Client Group LLC acquired a new position in Q2 during the 3rd quarter worth $26,000. Caitong International Asset Management Co. Ltd acquired a new position in Q2 during the 4th quarter worth $27,000. Finally, Optiver Holding B.V. boosted its holdings in Q2 by 1,578.9% during the first quarter. Optiver Holding B.V. now owns 638 shares of the technology company’s stock valued at $30,000 after acquiring an additional 600 shares during the period.

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.