DA Davidson Reaffirms “Buy” Rating for Q2 (NYSE:QTWO)

Q2 (NYSE:QTWO)‘s stock had its “buy” rating reissued by research analysts at DA Davidson in a note issued to investors on Monday,Benzinga reports. They presently have a $82.00 price objective on the technology company’s stock. DA Davidson’s price objective suggests a potential upside of 58.21% from the stock’s previous close.

Other analysts have also recently issued reports about the stock. Truist Financial lowered their price objective on shares of Q2 from $110.00 to $75.00 and set a “buy” rating for the company in a research note on Thursday, February 12th. UBS Group set a $77.00 price objective on shares of Q2 in a research note on Thursday, April 30th. Royal Bank Of Canada lowered their price objective on shares of Q2 from $86.00 to $67.00 and set a “sector perform” rating for the company in a research note on Thursday, February 12th. Zacks Research cut shares of Q2 from a “strong-buy” rating to a “hold” rating in a research note on Monday, March 16th. Finally, Weiss Ratings reissued a “hold (c-)” rating on shares of Q2 in a research note on Tuesday, April 21st. Seven analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. Based on data from MarketBeat.com, Q2 currently has a consensus rating of “Moderate Buy” and a consensus price target of $75.27.

Q2 Trading Up 9.5%

Shares of NYSE QTWO traded up $4.48 during midday trading on Monday, reaching $51.83. 770,638 shares of the stock were exchanged, compared to its average volume of 947,875. Q2 has a 52-week low of $44.46 and a 52-week high of $96.68. The stock has a 50 day moving average price of $48.11 and a 200-day moving average price of $58.50. The company has a market capitalization of $3.24 billion, a P/E ratio of 46.28 and a beta of 1.34.

Q2 (NYSE:QTWO) last posted its quarterly earnings results on Wednesday, April 29th. The technology company reported $0.63 earnings per share for the quarter, missing analysts’ consensus estimates of $0.71 by ($0.08). The company had revenue of $216.51 million for the quarter, compared to analysts’ expectations of $214.40 million. Q2 had a return on equity of 14.68% and a net margin of 8.99%.The business’s revenue for the quarter was up 14.1% on a year-over-year basis. During the same period in the prior year, the business earned $0.07 EPS. On average, analysts forecast that Q2 will post 1.57 earnings per share for the current year.

Insider Buying and Selling at Q2

In other news, CFO Jonathan Price sold 32,156 shares of the business’s stock in a transaction on Wednesday, March 4th. The shares were sold at an average price of $49.75, for a total transaction of $1,599,761.00. Following the transaction, the chief financial officer directly owned 197,135 shares of the company’s stock, valued at approximately $9,807,466.25. The trade was a 14.02% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Matthew P. Flake sold 91,590 shares of the business’s stock in a transaction on Wednesday, March 4th. The stock was sold at an average price of $49.75, for a total transaction of $4,556,602.50. Following the transaction, the chief executive officer directly owned 503,815 shares in the company, valued at approximately $25,064,796.25. The trade was a 15.38% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last quarter, insiders sold 411,484 shares of company stock valued at $20,720,329. 0.88% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the company. Root Financial Partners LLC acquired a new position in shares of Q2 during the first quarter worth $25,000. Headlands Technologies LLC acquired a new position in shares of Q2 during the second quarter worth $26,000. Measured Wealth Private Client Group LLC acquired a new stake in Q2 in the third quarter valued at $26,000. Caitong International Asset Management Co. Ltd acquired a new stake in Q2 in the fourth quarter valued at $27,000. Finally, Quarry LP raised its holdings in Q2 by 92.5% in the third quarter. Quarry LP now owns 697 shares of the technology company’s stock valued at $50,000 after acquiring an additional 335 shares in the last quarter.

About Q2

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.