Q2 (NYSE:QTWO) Upgraded to Buy at Wall Street Zen

Wall Street Zen upgraded shares of Q2 (NYSE:QTWO) from a hold rating to a buy rating in a research note published on Saturday morning.

Other equities research analysts have also recently issued reports about the stock. DA Davidson restated a “buy” rating and set a $82.00 price objective on shares of Q2 in a research note on Thursday, July 23rd. Morgan Stanley increased their target price on shares of Q2 from $63.00 to $68.00 and gave the company an “equal weight” rating in a research report on Friday. UBS Group set a $68.00 target price on shares of Q2 in a research note on Friday. Robert W. Baird set a $74.00 price target on shares of Q2 in a research report on Thursday, April 30th. Finally, Stifel Nicolaus upped their price target on shares of Q2 from $70.00 to $75.00 and gave the stock a “buy” rating in a research note on Thursday. 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, Q2 presently has a consensus rating of “Moderate Buy” and an average target price of $74.00.

Q2 Price Performance

QTWO opened at $61.00 on Friday. The stock’s 50 day moving average price is $49.57 and its 200 day moving average price is $51.50. The stock has a market cap of $3.80 billion, a P/E ratio of 43.57 and a beta of 1.33. Q2 has a 12 month low of $40.79 and a 12 month high of $90.08.

Q2 (NYSE:QTWO) last announced its quarterly earnings results on Wednesday, July 29th. The technology company reported $0.70 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.68 by $0.02. Q2 had a return on equity of 17.04% and a net margin of 10.87%.The company had revenue of $219.77 million during the quarter, compared to analyst estimates of $216.86 million. During the same quarter in the previous year, the firm posted $0.18 EPS. The firm’s quarterly revenue was up 12.6% on a year-over-year basis. Equities analysts anticipate that Q2 will post 1.73 EPS for the current year.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the company. William Blair Investment Management LLC boosted its position in shares of Q2 by 25.9% during the 4th quarter. William Blair Investment Management LLC now owns 2,694,718 shares of the technology company’s stock valued at $194,451,000 after purchasing an additional 553,713 shares in the last quarter. Peregrine Capital Management LLC raised its holdings in shares of Q2 by 48.7% in the 4th quarter. Peregrine Capital Management LLC now owns 143,243 shares of the technology company’s stock worth $10,336,000 after purchasing an additional 46,903 shares in the last quarter. Vanguard Group Inc. raised its holdings in shares of Q2 by 1.0% in the 4th quarter. Vanguard Group Inc. now owns 7,995,133 shares of the technology company’s stock worth $576,929,000 after purchasing an additional 82,827 shares in the last quarter. New Age Alpha Advisors LLC acquired a new stake in Q2 during the fourth quarter valued at approximately $3,080,000. Finally, BNP Paribas Financial Markets lifted its stake in Q2 by 207.2% during the fourth quarter. BNP Paribas Financial Markets now owns 136,871 shares of the technology company’s stock valued at $9,877,000 after purchasing an additional 92,318 shares during 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.