Q2 (NYSE:QTWO) Upgraded to Strong-Buy at Zacks Research

Zacks Research upgraded shares of Q2 (NYSE:QTWO) from a hold rating to a strong-buy rating in a research report sent to investors on Thursday,Zacks.com reports.

Other research analysts have also issued research reports about the company. UBS Group set a $68.00 target price on Q2 in a research report on Friday. Robert W. Baird set a $74.00 price objective on Q2 in a report on Thursday, April 30th. Wall Street Zen raised Q2 from a “hold” rating to a “buy” rating in a research report on Saturday. Needham & Company LLC upped their target price on shares of Q2 from $70.00 to $75.00 and gave the stock a “buy” rating in a research report on Thursday. Finally, DA Davidson reiterated a “buy” rating and issued a $82.00 price target on shares of Q2 in a research note on Thursday, July 23rd. One equities research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and three have given a Hold rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $74.00.

Q2 Stock Up 3.3%

Q2 stock opened at $61.00 on Thursday. The stock has a market cap of $3.80 billion, a price-to-earnings ratio of 43.57 and a beta of 1.33. The business has a 50-day simple moving average of $49.57 and a 200 day simple moving average of $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 EPS for the quarter, beating analysts’ consensus estimates of $0.68 by $0.02. Q2 had a net margin of 10.87% and a return on equity of 17.04%. The business had revenue of $219.77 million for the quarter, compared to analysts’ expectations of $216.86 million. During the same period last year, the business earned $0.18 earnings per share. The business’s quarterly revenue was up 12.6% on a year-over-year basis. On average, research analysts anticipate that Q2 will post 1.73 earnings per share for the current year.

Institutional Trading of Q2

A number of institutional investors have recently bought and sold shares of QTWO. California State Teachers Retirement System boosted its holdings in Q2 by 0.3% during the 2nd quarter. California State Teachers Retirement System now owns 55,842 shares of the technology company’s stock valued at $5,226,000 after acquiring an additional 194 shares during the period. Maryland State Retirement & Pension System increased its position in shares of Q2 by 2.2% during the fourth quarter. Maryland State Retirement & Pension System now owns 9,174 shares of the technology company’s stock worth $662,000 after acquiring an additional 197 shares during the period. Oregon Public Employees Retirement Fund boosted its holdings in shares of Q2 by 1.4% in the fourth quarter. Oregon Public Employees Retirement Fund now owns 14,300 shares of the technology company’s stock valued at $1,032,000 after purchasing an additional 200 shares during the period. Advisors Asset Management Inc. lifted its holdings in shares of Q2 by 35.0% in the 1st quarter. Advisors Asset Management Inc. now owns 849 shares of the technology company’s stock worth $68,000 after buying an additional 220 shares during the period. Finally, Headlands Technologies LLC purchased a new stake in Q2 in the second quarter worth about $26,000.

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.