Q2 (NYSE:QTWO) Stock Rating Upgraded by Zacks Research

Q2 (NYSE:QTWO) was upgraded by investment analysts at Zacks Research from a “hold” rating to a “strong-buy” rating in a research note issued to investors on Thursday,Zacks.com reports.

A number of other equities research analysts have also recently issued reports on QTWO. Weiss Ratings restated a “hold (c-)” rating on shares of Q2 in a report on Friday, July 17th. Stifel Nicolaus raised their price objective on Q2 from $70.00 to $75.00 and gave the stock a “buy” rating in a research note on Thursday. Robert W. Baird set a $74.00 price objective on shares of Q2 in a research report on Thursday, April 30th. Needham & Company LLC raised their target price on Q2 from $70.00 to $75.00 and gave the company a “buy” rating in a report on Thursday. Finally, Morgan Stanley increased their target price on shares of Q2 from $63.00 to $68.00 and gave the stock an “equal weight” rating in a report on Friday. One equities research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat.com, Q2 has an average rating of “Moderate Buy” and an average target price of $74.00.

Q2 Stock Performance

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

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

Hedge Funds Weigh In On Q2

A number of institutional investors have recently modified their holdings of the company. Headlands Technologies LLC purchased a new position in Q2 during the second quarter worth about $26,000. Measured Wealth Private Client Group LLC purchased a new stake in Q2 in the 3rd quarter valued at about $26,000. Caitong International Asset Management Co. Ltd purchased a new stake in Q2 in the 4th quarter valued at about $27,000. Root Financial Partners LLC bought a new position in shares of Q2 during the 1st quarter worth approximately $25,000. Finally, Northwestern Mutual Wealth Management Co. lifted its position in shares of Q2 by 592.3% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 630 shares of the technology company’s stock worth $59,000 after buying an additional 539 shares in the last quarter.

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.