Wall Street Zen Downgrades Q2 (NYSE:QTWO) to Buy

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

A number of other equities analysts also recently issued reports on QTWO. Truist Financial dropped their price objective on shares of Q2 from $110.00 to $75.00 and set a “buy” rating on the stock in a research note on Thursday, February 12th. Zacks Research upgraded Q2 from a “hold” rating to a “strong-buy” rating in a report on Friday, February 13th. UBS Group set a $67.00 target price on Q2 in a research report on Thursday, February 12th. JPMorgan Chase & Co. cut their price target on Q2 from $100.00 to $75.00 and set an “overweight” rating on the stock in a report on Wednesday, February 18th. Finally, Stifel Nicolaus set a $75.00 price target on Q2 in a research report on Thursday, February 12th. One investment analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and five have issued a Hold rating to the stock. Based on data from MarketBeat.com, Q2 has an average rating of “Moderate Buy” and an average price target of $79.29.

Q2 Price Performance

Shares of Q2 stock opened at $52.86 on Friday. The stock has a market cap of $3.30 billion, a price-to-earnings ratio of 66.91 and a beta of 1.40. The firm’s 50-day moving average is $60.49 and its two-hundred day moving average is $67.80. Q2 has a 1 year low of $46.16 and a 1 year high of $96.68.

Insider Activity at Q2

In other Q2 news, COO Himagiri K. Mukkamala sold 1,793 shares of the firm’s stock in a transaction that occurred on Wednesday, March 4th. The shares were sold at an average price of $49.75, for a total value of $89,201.75. Following the completion of the sale, the chief operating officer directly owned 94,253 shares in the company, valued at $4,689,086.75. This trade represents a 1.87% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Jonathan Price sold 32,156 shares of Q2 stock in a transaction on Wednesday, March 4th. The stock was sold at an average price of $49.75, for a total transaction of $1,599,761.00. Following the completion of the transaction, the chief financial officer directly owned 197,135 shares in the company, valued at $9,807,466.25. This represents a 14.02% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 294,381 shares of company stock valued at $15,152,614 over the last three months. Company insiders own 3.00% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in QTWO. Headlands Technologies LLC purchased a new stake in Q2 in the second quarter valued at about $26,000. Measured Wealth Private Client Group LLC purchased a new stake in shares of Q2 during the third quarter worth about $26,000. Cullen Frost Bankers Inc. purchased a new stake in shares of Q2 during the third quarter worth about $27,000. Caitong International Asset Management Co. Ltd acquired a new position in shares of Q2 during the fourth quarter valued at about $27,000. Finally, Salomon & Ludwin LLC purchased a new position in shares of Q2 in the 3rd quarter valued at approximately $30,000.

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.