Q2 (NYSE:QTWO) Upgraded by Piper Sandler to “Strong-Buy” Rating

Piper Sandler upgraded shares of Q2 (NYSE:QTWO) to a strong-buy rating in a report issued on Thursday morning,Zacks reports.

A number of other research firms also recently commented on QTWO. Wall Street Zen downgraded Q2 from a “buy” rating to a “hold” rating in a research report on Saturday, August 29th. Royal Bank Of Canada increased their price objective on shares of Q2 from $67.00 to $73.00 and gave the company a “sector perform” rating in a research report on Monday, August 31st. DA Davidson restated a “buy” rating and issued a $82.00 target price on shares of Q2 in a report on Thursday, July 23rd. Weiss Ratings upgraded Q2 from a “hold (c-)” rating to a “hold (c)” rating in a research report on Friday, July 31st. Finally, Stifel Nicolaus raised their price objective on Q2 from $70.00 to $75.00 and gave the company a “buy” rating in a research note on Thursday, July 30th. Two investment analysts have rated the stock with a Strong Buy rating, eight have issued a Buy rating and three have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, Q2 presently has a consensus rating of “Moderate Buy” and a consensus price target of $76.17.

Q2 Stock Up 1.0%

Shares of Q2 stock opened at $60.91 on Thursday. Q2 has a twelve month low of $40.79 and a twelve month high of $85.13. The business has a 50-day moving average price of $60.02 and a 200-day moving average price of $52.09. The firm has a market cap of $3.80 billion, a price-to-earnings ratio of 43.51 and a beta of 1.33.

Q2 (NYSE:QTWO) last posted its earnings results on Wednesday, July 29th. The technology company reported $0.70 EPS for the quarter, topping analysts’ consensus estimates of $0.68 by $0.02. The company had revenue of $219.77 million for the quarter, compared to the consensus estimate of $216.86 million. Q2 had a return on equity of 17.04% and a net margin of 10.87%.The firm’s revenue for the quarter was up 12.6% on a year-over-year basis. During the same period in the previous year, the business earned $0.18 earnings per share. On average, equities analysts expect that Q2 will post 1.84 EPS for the current fiscal year.

Insider Activity at Q2

In related news, CFO Jonathan Price sold 77,180 shares of the stock in a transaction dated Thursday, August 13th. The shares were sold at an average price of $65.71, for a total value of $5,071,497.80. Following the sale, the chief financial officer directly owned 207,633 shares of the company’s stock, valued at $13,643,564.43. This represents a 27.10% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, General Counsel Michael Kerr sold 636 shares of the business’s stock in a transaction that occurred on Friday, September 11th. The shares were sold at an average price of $60.96, for a total value of $38,770.56. Following the transaction, the general counsel owned 80,739 shares of the company’s stock, valued at $4,921,849.44. This trade represents a 0.78% decrease in their position. The disclosure for this sale is available in the SEC filing. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last ninety days, insiders have sold 87,816 shares of company stock worth $5,740,968. Insiders own 0.88% of the company’s stock.

Institutional Trading of Q2

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. William Blair Investment Management LLC increased its stake 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 buying an additional 553,713 shares during the period. Entropy Technologies LP boosted its position in Q2 by 864.9% in the 1st quarter. Entropy Technologies LP now owns 26,902 shares of the technology company’s stock valued at $1,272,000 after buying an additional 24,114 shares during the period. New Age Alpha Advisors LLC bought a new position in Q2 in the 4th quarter worth about $3,080,000. Smith Group Asset Management LLC bought a new position in Q2 in the 1st quarter worth about $1,422,000. Finally, BNP Paribas Financial Markets increased its position in shares of Q2 by 207.2% during the fourth quarter. BNP Paribas Financial Markets now owns 136,871 shares of the technology company’s stock worth $9,877,000 after acquiring an additional 92,318 shares during the period.

Q2 Company Profile

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.