Q2 (NYSE:QTWO) Earns Buy Rating from DA Davidson

Q2 (NYSE:QTWO)‘s stock had its “buy” rating reaffirmed by equities research analysts at DA Davidson in a note issued to investors on Thursday,Benzinga reports. They presently have a $82.00 price objective on the technology company’s stock. DA Davidson’s price target would suggest a potential upside of 52.33% from the stock’s previous close.

Several other research firms have also weighed in on QTWO. Morgan Stanley set a $63.00 price objective on shares of Q2 in a research note on Thursday, April 30th. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Q2 in a report on Friday, July 17th. Wall Street Zen cut Q2 from a “buy” rating to a “hold” rating in a research report on Saturday, May 2nd. Robert W. Baird set a $74.00 price target on Q2 in a report on Thursday, April 30th. Finally, Stifel Nicolaus set a $70.00 price objective on Q2 in a research report on Thursday, April 30th. Seven equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. According to MarketBeat, Q2 presently has a consensus rating of “Moderate Buy” and a consensus target price of $73.45.

Q2 Trading Up 1.8%

Q2 stock traded up $0.97 during mid-day trading on Thursday, reaching $53.83. The company’s stock had a trading volume of 279,712 shares, compared to its average volume of 903,143. The firm has a market cap of $3.37 billion, a price-to-earnings ratio of 47.97 and a beta of 1.33. The business has a 50 day moving average price of $47.94 and a 200-day moving average price of $51.98. Q2 has a twelve month low of $40.79 and a twelve month high of $92.66.

Q2 (NYSE:QTWO) last issued its 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). Q2 had a return on equity of 14.68% and a net margin of 8.99%.The business had revenue of $216.51 million for the quarter, compared to analyst estimates of $214.40 million. During the same period last year, the company posted $0.07 earnings per share. The firm’s revenue for the quarter was up 14.1% on a year-over-year basis. On average, equities analysts expect that Q2 will post 1.64 EPS for the current fiscal year.

Hedge Funds Weigh In On Q2

A number of institutional investors and hedge funds have recently added to or reduced their stakes in QTWO. California State Teachers Retirement System increased its stake in shares of Q2 by 0.3% in the second quarter. California State Teachers Retirement System now owns 55,842 shares of the technology company’s stock worth $5,226,000 after purchasing an additional 194 shares during the period. Maryland State Retirement & Pension System grew its holdings in Q2 by 2.2% in the 4th quarter. Maryland State Retirement & Pension System now owns 9,174 shares of the technology company’s stock valued at $662,000 after buying an additional 197 shares during the last quarter. Oregon Public Employees Retirement Fund grew its holdings in Q2 by 1.4% in the 4th quarter. Oregon Public Employees Retirement Fund now owns 14,300 shares of the technology company’s stock valued at $1,032,000 after buying an additional 200 shares during the last quarter. Advisors Asset Management Inc. increased its position in Q2 by 35.0% in the 1st quarter. Advisors Asset Management Inc. now owns 849 shares of the technology company’s stock worth $68,000 after buying an additional 220 shares during the period. Finally, Headlands Technologies LLC acquired a new position in shares of Q2 during the second quarter worth approximately $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.