Q2 (NYSE:QTWO) Rating Increased to Strong-Buy at Wall Street Zen

Q2 (NYSE:QTWO) was upgraded by analysts at Wall Street Zen from a “buy” rating to a “strong-buy” rating in a research note issued to investors on Saturday.

Several other brokerages have also commented on QTWO. DA Davidson upgraded Q2 from a “neutral” rating to a “buy” rating and set a $82.00 target price on the stock in a research report on Tuesday, February 3rd. Morgan Stanley set a $68.00 price target on Q2 in a research note on Thursday, February 12th. Stephens set a $90.00 price target on Q2 in a report on Friday, January 16th. Needham & Company LLC reduced their price objective on shares of Q2 from $90.00 to $70.00 and set a “buy” rating for the company in a research report on Thursday, February 12th. Finally, Cantor Fitzgerald dropped their target price on shares of Q2 from $90.00 to $80.00 and set an “overweight” rating on the stock in a research report on Thursday, February 12th. One analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and five have assigned a Hold rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $79.29.

Q2 Stock Down 1.8%

Shares of NYSE QTWO opened at $50.78 on Friday. The company has a market capitalization of $3.17 billion, a PE ratio of 64.28 and a beta of 1.36. Q2 has a twelve month low of $50.48 and a twelve month high of $96.68. The firm has a fifty day simple moving average of $65.44 and a 200 day simple moving average of $69.69.

Insider Buying and Selling

In other Q2 news, COO Himagiri K. Mukkamala sold 3,024 shares of the firm’s 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 transaction, the chief operating officer directly owned 96,046 shares of the company’s stock, valued at approximately $7,076,669.28. This trade represents a 3.05% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Kirk L. Coleman sold 8,559 shares of Q2 stock in a transaction dated Wednesday, December 10th. The shares were sold at an average price of $73.68, for a total transaction of $630,627.12. Following the transaction, the insider owned 269,128 shares of the company’s stock, valued at $19,829,351.04. This represents a 3.08% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 20,883 shares of company stock worth $1,547,778 in the last ninety days. Corporate insiders own 0.31% of the company’s stock.

Institutional Investors Weigh In On Q2

A number of institutional investors and hedge funds have recently made changes to their positions in QTWO. Advisors Asset Management Inc. boosted its stake in Q2 by 18.1% during the 2nd quarter. Advisors Asset Management Inc. now owns 1,003 shares of the technology company’s stock valued at $94,000 after purchasing an additional 154 shares during the last quarter. ANB Bank lifted its holdings in shares of Q2 by 7.1% in the second quarter. ANB Bank now owns 2,710 shares of the technology company’s stock valued at $254,000 after purchasing an additional 179 shares in the last quarter. Hilltop National Bank boosted its position in shares of Q2 by 9.8% during the third quarter. Hilltop National Bank now owns 2,077 shares of the technology company’s stock valued at $150,000 after buying an additional 185 shares during the last quarter. California State Teachers Retirement System boosted its position in shares of Q2 by 0.3% during the second quarter. California State Teachers Retirement System now owns 55,842 shares of the technology company’s stock valued at $5,226,000 after buying an additional 194 shares during the last quarter. Finally, Maryland State Retirement & Pension System grew its holdings in 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 buying an additional 197 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.