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

Q2 (NYSE:QTWO) had its price target hoisted by Morgan Stanley from $63.00 to $68.00 in a research note published on Friday,Benzinga reports. They currently have an equal weight rating on the technology company’s stock.

A number of other research firms have also recently commented on QTWO. JPMorgan Chase & Co. cut their price objective on Q2 from $80.00 to $60.00 and set an “overweight” rating for the company in a research report on Monday, June 22nd. 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. Needham & Company LLC lifted their price target 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 lowered shares of Q2 from a “buy” rating to a “hold” rating in a report on Saturday, May 2nd. Finally, UBS Group set a $68.00 price objective on shares of Q2 in a research report on Friday. Eight investment analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $74.00.

Q2 Stock Up 3.3%

QTWO stock opened at $61.00 on Friday. Q2 has a 52-week low of $40.79 and a 52-week high of $90.08. The firm has a market cap of $3.80 billion, a P/E ratio of 43.57 and a beta of 1.33. The company’s 50-day simple moving average is $49.57 and its 200-day simple moving average is $51.50.

Q2 (NYSE:QTWO) last announced its quarterly earnings results on Wednesday, July 29th. The technology company reported $0.70 earnings per share for the quarter, beating the consensus estimate of $0.68 by $0.02. The firm had revenue of $219.77 million during the quarter, compared to analyst estimates of $216.86 million. Q2 had a return on equity of 17.04% and a net margin of 10.87%.Q2’s revenue for the quarter was up 12.6% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.18 EPS. On average, analysts anticipate that Q2 will post 1.73 earnings per share for the current fiscal year.

Institutional Trading of Q2

Large investors have recently made changes to their positions in the company. California State Teachers Retirement System lifted its holdings in Q2 by 0.3% in the 2nd quarter. California State Teachers Retirement System now owns 55,842 shares of the technology company’s stock valued at $5,226,000 after purchasing an additional 194 shares in the last quarter. Maryland State Retirement & Pension System grew its holdings in shares of Q2 by 2.2% during the fourth quarter. Maryland State Retirement & Pension System now owns 9,174 shares of the technology company’s stock worth $662,000 after buying an additional 197 shares in the last quarter. Oregon Public Employees Retirement Fund grew its holdings in shares of Q2 by 1.4% during the fourth quarter. Oregon Public Employees Retirement Fund now owns 14,300 shares of the technology company’s stock worth $1,032,000 after buying an additional 200 shares in the last quarter. Advisors Asset Management Inc. raised its position in shares of Q2 by 35.0% in the first quarter. Advisors Asset Management Inc. now owns 849 shares of the technology company’s stock valued at $68,000 after buying an additional 220 shares during the last quarter. Finally, Headlands Technologies LLC purchased a new position in shares of Q2 in the second quarter worth about $26,000.

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.