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

Q2 (NYSE:QTWO)‘s stock had its “buy” rating reissued by equities researchers at DA Davidson in a research report issued on Thursday,Benzinga reports. They presently have a $82.00 target price on the technology company’s stock. DA Davidson’s target price would indicate a potential upside of 50.17% from the stock’s previous close.

Other equities analysts have also recently issued research reports about the stock. UBS Group set a $77.00 price objective on shares of Q2 in a research note on Thursday, April 30th. JPMorgan Chase & Co. dropped their price objective on Q2 from $80.00 to $60.00 and set an “overweight” rating for the company in a research note on Monday, June 22nd. 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. Finally, Wall Street Zen lowered Q2 from a “buy” rating to a “hold” rating in a research note on Saturday, May 2nd. Seven investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, Q2 currently has a consensus rating of “Moderate Buy” and a consensus price target of $73.45.

Q2 Trading Up 3.3%

Shares of QTWO stock opened at $54.60 on Thursday. Q2 has a 12 month low of $40.79 and a 12 month high of $92.66. The company has a market capitalization of $3.42 billion, a P/E ratio of 48.75 and a beta of 1.33. The stock has a 50 day moving average of $48.28 and a two-hundred day moving average of $51.88.

Q2 (NYSE:QTWO) last released its quarterly earnings data on Wednesday, April 29th. The technology company reported $0.63 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.71 by ($0.08). The firm had revenue of $216.51 million for the quarter, compared to the consensus estimate of $214.40 million. Q2 had a net margin of 8.99% and a return on equity of 14.68%. The business’s revenue for the quarter was up 14.1% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.07 earnings per share. Sell-side analysts predict that Q2 will post 1.64 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of the business. Handelsbanken Fonder AB increased its stake in shares of Q2 by 1.5% in the 2nd quarter. Handelsbanken Fonder AB now owns 232,860 shares of the technology company’s stock valued at $11,201,000 after acquiring an additional 3,544 shares during the last quarter. Harbor Investment Advisory LLC acquired a new stake in Q2 during the 2nd quarter worth $61,000. Central Pacific Bank Trust Division lifted its holdings in Q2 by 40.7% during the second quarter. Central Pacific Bank Trust Division now owns 4,508 shares of the technology company’s stock worth $217,000 after acquiring an additional 1,304 shares in the last quarter. Versant Capital Management Inc grew its stake in Q2 by 45.2% in the second quarter. Versant Capital Management Inc now owns 1,570 shares of the technology company’s stock valued at $76,000 after acquiring an additional 489 shares during the period. Finally, Pacer Advisors Inc. grew its stake in Q2 by 42.6% in the first quarter. Pacer Advisors Inc. now owns 1,656 shares of the technology company’s stock valued at $78,000 after acquiring an additional 495 shares during the period.

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.