Q2 (NYSE:QTWO) Issues Earnings Results

Q2 (NYSE:QTWO) issued its earnings results on Wednesday. The technology company reported $0.70 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.68 by $0.02, FiscalAI reports. Q2 had a net margin of 8.99% and a return on equity of 14.68%. The company had revenue of $219.77 million during the quarter, compared to analyst estimates of $216.86 million.

Q2 Trading Up 1.7%

Q2 stock traded up $0.98 during trading hours on Wednesday, reaching $60.22. 1,742,361 shares of the company were exchanged, compared to its average volume of 917,057. Q2 has a 12 month low of $40.79 and a 12 month high of $92.04. The stock has a 50-day moving average of $48.75 and a 200 day moving average of $51.58. The firm has a market cap of $3.77 billion, a price-to-earnings ratio of 53.77 and a beta of 1.33.

Analyst Ratings Changes

Several equities research analysts recently commented on the company. DA Davidson reissued a “buy” rating and issued a $82.00 price target on shares of Q2 in a research note on Thursday, July 23rd. Robert W. Baird set a $74.00 price objective on shares of Q2 in a research report on Thursday, April 30th. Wall Street Zen cut shares of Q2 from a “buy” rating to a “hold” rating in a research note on Saturday, May 2nd. JPMorgan Chase & Co. decreased their target price on shares of Q2 from $80.00 to $60.00 and set an “overweight” rating for the company in a research report on Monday, June 22nd. Finally, UBS Group set a $77.00 price target on shares of Q2 in a research note on Thursday, April 30th. Seven analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat, Q2 presently has a consensus rating of “Moderate Buy” and a consensus price target of $73.45.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of QTWO. Captrust Financial Advisors acquired a new stake in shares of Q2 in the second quarter valued at about $222,000. Freestone Grove Partners LP acquired a new position in shares of Q2 during the 3rd quarter worth about $202,000. Entropy Technologies LP bought a new stake in Q2 during the 4th quarter valued at approximately $201,000. Caxton Associates LLP acquired a new stake in Q2 in the 2nd quarter valued at approximately $201,000. Finally, Advisory Services Network LLC acquired a new stake in Q2 in the 3rd quarter valued at approximately $120,000.

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.