Q2 (NYSE:QTWO) Upgraded to Buy at DA Davidson

DA Davidson upgraded shares of Q2 (NYSE:QTWO) from a neutral rating to a buy rating in a report issued on Tuesday morning, Marketbeat.com reports. DA Davidson currently has $82.00 price objective on the technology company’s stock.

Several other equities analysts have also recently weighed in on QTWO. Wall Street Zen raised shares of Q2 from a “hold” rating to a “buy” rating in a research note on Saturday, November 8th. Weiss Ratings restated a “hold (c-)” rating on shares of Q2 in a research report on Thursday, January 22nd. Zacks Research downgraded Q2 from a “strong-buy” rating to a “hold” rating in a research report on Friday, January 9th. Cantor Fitzgerald dropped their price target on Q2 from $110.00 to $90.00 and set an “overweight” rating for the company in a research note on Wednesday, October 29th. Finally, UBS Group set a $90.00 price objective on Q2 in a research note on Thursday, November 6th. Nine equities research analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $92.27.

Q2 Stock Down 5.7%

NYSE QTWO opened at $57.05 on Tuesday. Q2 has a twelve month low of $56.41 and a twelve month high of $102.07. The business has a 50-day moving average price of $70.33 and a 200-day moving average price of $72.44. The firm has a market cap of $3.57 billion, a price-to-earnings ratio of 118.85 and a beta of 1.36.

Q2 (NYSE:QTWO) last posted its quarterly earnings results on Wednesday, November 5th. The technology company reported $0.23 EPS for the quarter, missing analysts’ consensus estimates of $0.55 by ($0.32). Q2 had a return on equity of 10.92% and a net margin of 4.12%.The business had revenue of $201.70 million during the quarter, compared to analysts’ expectations of $197.87 million. During the same period in the prior year, the firm posted ($0.20) earnings per share. The firm’s revenue for the quarter was up 15.2% on a year-over-year basis. Research analysts expect that Q2 will post 0.67 EPS for the current fiscal year.

Insider Transactions at Q2

In other news, COO Himagiri K. Mukkamala sold 3,024 shares of the stock in a transaction on Wednesday, December 10th. The shares were sold at an average price of $73.68, for a total value of $222,808.32. Following the sale, the chief operating officer owned 96,046 shares of the company’s stock, valued at approximately $7,076,669.28. This represents a 3.05% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CRO Michael A. Volanoski sold 5,123 shares of the firm’s stock in a transaction dated Friday, December 12th. The stock was sold at an average price of $75.46, for a total transaction of $386,581.58. Following the completion of the sale, the executive owned 166,512 shares of the company’s stock, valued at $12,564,995.52. This trade represents a 2.98% decrease in their position. The SEC filing for this sale provides additional information. In the last 90 days, insiders sold 20,883 shares of company stock worth $1,547,778. 3.00% of the stock is currently owned by company insiders.

Institutional Trading of Q2

Institutional investors have recently added to or reduced their stakes in the company. Campbell & CO Investment Adviser LLC purchased a new stake in Q2 during the third quarter worth $1,559,000. Connor Clark & Lunn Investment Management Ltd. increased its holdings in shares of Q2 by 15.0% in the 2nd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 158,328 shares of the technology company’s stock valued at $14,818,000 after acquiring an additional 20,643 shares during the period. Castleark Management LLC bought a new position in shares of Q2 in the 2nd quarter worth $5,341,000. Louisiana State Employees Retirement System purchased a new stake in shares of Q2 during the 3rd quarter worth $2,078,000. Finally, Pembroke Management LTD lifted its stake in shares of Q2 by 23.5% during the 3rd quarter. Pembroke Management LTD now owns 308,521 shares of the technology company’s stock worth $22,334,000 after purchasing an additional 58,625 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.