Q2 (NYSE:QTWO) Issues Quarterly Earnings Results, Beats Estimates By $0.02 EPS

Q2 (NYSE:QTWO) issued its quarterly earnings results on Wednesday. The technology company reported $0.70 earnings per share (EPS) for the quarter, topping the consensus estimate 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 business had revenue of $219.77 million for the quarter, compared to the consensus estimate of $216.86 million.

Q2 Trading Up 1.7%

Shares of NYSE:QTWO traded up $0.98 during trading on Wednesday, hitting $60.22. 1,742,359 shares of the company’s stock were exchanged, compared to its average volume of 917,055. Q2 has a 1-year low of $40.79 and a 1-year high of $92.04. The firm has a 50-day moving average price of $48.75 and a two-hundred day moving average price of $51.58. The firm has a market cap of $3.77 billion, a P/E ratio of 53.77 and a beta of 1.33.

Hedge Funds Weigh In On Q2

Large investors have recently bought and sold shares of the business. Corient Private Wealth LLC acquired a new stake in shares of Q2 during the fourth quarter worth about $246,000. Invesco Ltd. grew its position in shares of Q2 by 25.6% in the 4th quarter. Invesco Ltd. now owns 232,072 shares of the technology company’s stock valued at $16,746,000 after purchasing an additional 47,274 shares during the period. Mercer Global Advisors Inc. ADV acquired a new position in shares of Q2 in the 4th quarter valued at approximately $257,000. State of Tennessee Department of Treasury increased its stake in Q2 by 1.3% during the 4th quarter. State of Tennessee Department of Treasury now owns 27,424 shares of the technology company’s stock worth $1,979,000 after purchasing an additional 352 shares in the last quarter. Finally, EP Wealth Advisors LLC acquired a new stake in Q2 during the 4th quarter worth approximately $714,000.

Analyst Ratings Changes

QTWO has been the subject of a number of research analyst reports. UBS Group set a $77.00 target price on shares of Q2 in a research note on Thursday, April 30th. JPMorgan Chase & Co. lowered their price target on shares of Q2 from $80.00 to $60.00 and set an “overweight” rating for the company in a report on Monday, June 22nd. DA Davidson restated a “buy” rating and issued a $82.00 price objective on shares of Q2 in a research report on Thursday, July 23rd. Wall Street Zen downgraded Q2 from a “buy” rating to a “hold” rating in a report on Saturday, May 2nd. Finally, Morgan Stanley set a $63.00 price objective on Q2 in a research report on Thursday, April 30th. Seven research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to MarketBeat, Q2 currently has an average rating of “Moderate Buy” and an average target price of $73.45.

About Q2

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.