Q2 (NYSE:QTWO) Price Target Raised to $68.00

Q2 (NYSE:QTWO) had its target price increased by research analysts at Morgan Stanley from $63.00 to $68.00 in a note issued to investors on Friday,Benzinga reports. The firm currently has an “equal weight” rating on the technology company’s stock. Morgan Stanley’s price objective indicates a potential upside of 10.87% from the stock’s previous close.

Other equities analysts have also issued reports about the company. UBS Group set a $68.00 target price on Q2 in a research report on Friday. Stifel Nicolaus raised their price objective on shares of Q2 from $70.00 to $75.00 and gave the company a “buy” rating in a research note on Thursday. Wall Street Zen cut shares of Q2 from a “buy” rating to a “hold” rating in a report on Saturday, May 2nd. DA Davidson reissued a “buy” rating and set a $82.00 target price on shares of Q2 in a research report on Thursday, July 23rd. Finally, Robert W. Baird set a $74.00 target price on shares of Q2 in a report on Thursday, April 30th. Eight investment analysts have rated the stock with a Buy rating and four have given a Hold rating to the company’s stock. According to data from MarketBeat.com, Q2 presently has an average rating of “Moderate Buy” and a consensus price target of $74.00.

Q2 Stock Up 3.8%

NYSE:QTWO traded up $2.26 during trading hours on Friday, reaching $61.33. The company had a trading volume of 592,805 shares, compared to its average volume of 922,169. Q2 has a twelve month low of $40.79 and a twelve month high of $90.08. The firm has a market cap of $3.84 billion, a price-to-earnings ratio of 43.81 and a beta of 1.33. The business’s 50-day simple moving average is $49.27 and its two-hundred day simple moving average is $51.43.

Q2 (NYSE:QTWO) last released its quarterly earnings data on Wednesday, July 29th. The technology company reported $0.70 earnings per share (EPS) 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 17.12%. The company had revenue of $219.77 million for the quarter, compared to analysts’ expectations of $216.86 million. During the same quarter in the prior year, the firm earned $0.18 EPS. The business’s revenue was up 12.6% on a year-over-year basis. As a group, equities analysts predict that Q2 will post 1.64 earnings per share for the current year.

Hedge Funds Weigh In On Q2

Large investors have recently bought and sold shares of the stock. Capital Research Global Investors boosted its holdings in Q2 by 86.2% during the 4th quarter. Capital Research Global Investors now owns 3,141,044 shares of the technology company’s stock worth $226,658,000 after acquiring an additional 1,454,076 shares during the last quarter. UBS Group AG lifted its position in shares of Q2 by 343.5% during the third quarter. UBS Group AG now owns 1,009,946 shares of the technology company’s stock valued at $73,110,000 after purchasing an additional 782,220 shares in the last quarter. Assenagon Asset Management S.A. boosted its holdings in Q2 by 119.0% during the first quarter. Assenagon Asset Management S.A. now owns 1,210,419 shares of the technology company’s stock worth $57,253,000 after purchasing an additional 657,707 shares during the last quarter. Norges Bank purchased a new position in Q2 during the fourth quarter worth about $44,960,000. Finally, William Blair Investment Management LLC grew its position in Q2 by 25.9% in the 4th quarter. William Blair Investment Management LLC now owns 2,694,718 shares of the technology company’s stock worth $194,451,000 after purchasing an additional 553,713 shares in the last quarter.

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.