Q2 (NYSE:QTWO) Raised to “Strong-Buy” at Piper Sandler

Q2 (NYSE:QTWO) was upgraded by equities researchers at Piper Sandler to a “strong-buy” rating in a research report issued on Thursday, Zacks reports.

Several other equities research analysts have also commented on the stock. JPMorgan Chase & Co. lifted 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. Weiss Ratings upgraded shares of Q2 from a “hold (c-)” rating to a “hold (c)” rating in a research note on Friday, July 31st. DA Davidson reiterated a “buy” rating and set a $82.00 target price on shares of Q2 in a research report on Thursday, July 23rd. Zacks Research upgraded Q2 from a “hold” rating to a “strong-buy” rating in a research note on Thursday, July 30th. Finally, Needham & Company LLC lifted their price target on Q2 from $70.00 to $75.00 and gave the stock a “buy” rating in a research report on Thursday, July 30th. Two analysts have rated the stock with a Strong Buy rating, eight have issued a Buy rating and three have issued a Hold rating to the company’s stock. According to MarketBeat, Q2 has a consensus rating of “Moderate Buy” and an average price target of $76.17.

Q2 Stock Up 1.0%

Shares of Q2 stock opened at $60.91 on Thursday. Q2 has a 52 week low of $40.79 and a 52 week high of $85.13. The firm’s 50 day moving average is $60.02 and its two-hundred day moving average is $52.09. The firm has a market capitalization of $3.80 billion, a P/E ratio of 43.51 and a beta of 1.33.

Q2 (NYSE:QTWO) last issued its quarterly earnings data on Wednesday, July 29th. The technology company reported $0.70 earnings per share for the quarter, topping the consensus estimate 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 during the quarter, compared to the consensus estimate of $216.86 million. During the same quarter in the previous year, the firm earned $0.18 EPS. The company’s revenue was up 12.6% compared to the same quarter last year. As a group, research analysts expect that Q2 will post 1.84 earnings per share for the current fiscal year.

Insider Buying and Selling at Q2

In other Q2 news, insider Kimberly Rutledge sold 10,000 shares of Q2 stock in a transaction on Monday, August 10th. The shares were sold at an average price of $63.07, for a total value of $630,700.00. Following the transaction, 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 ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 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 dated Thursday, August 13th. The shares were sold at an average price of $65.71, for a total transaction of $5,071,497.80. Following the completion of 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 ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders have sold 87,816 shares of company stock worth $5,740,968. 0.88% of the stock is owned by company insiders.

Institutional Trading of Q2

A number of hedge funds have recently added to or reduced their stakes in the stock. Advisors Asset Management Inc. raised its stake in shares of Q2 by 35.0% during the first quarter. Advisors Asset Management Inc. now owns 849 shares of the technology company’s stock worth $68,000 after purchasing an additional 220 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in shares of Q2 by 4.6% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 35,033 shares of the technology company’s stock worth $2,803,000 after acquiring an additional 1,525 shares during the period. Goldman Sachs Group Inc. lifted its stake in shares of Q2 by 21.6% in the 1st quarter. Goldman Sachs Group Inc. now owns 537,717 shares of the technology company’s stock worth $43,023,000 after acquiring an additional 95,440 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its holdings in shares of Q2 by 3.9% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 186,318 shares of the technology company’s stock valued at $14,907,000 after acquiring an additional 6,909 shares in the last quarter. Finally, Northwestern Mutual Wealth Management Co. boosted its holdings in shares of Q2 by 592.3% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 630 shares of the technology company’s stock valued at $59,000 after acquiring an additional 539 shares in the last quarter.

About Q2

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.