Q2 (NYSE:QTWO) Receives “Buy” Rating from DA Davidson

DA Davidson restated their buy rating on shares of Q2 (NYSE:QTWO) in a report published on Thursday morning,Benzinga reports. DA Davidson currently has a $82.00 target price on the technology company’s stock.

Other equities research analysts also recently issued research reports about the stock. Wall Street Zen downgraded shares of Q2 from a “buy” rating to a “hold” rating in a research report on Saturday, May 2nd. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Q2 in a report on Friday, July 17th. Morgan Stanley set a $63.00 target price on Q2 in a research report on Thursday, April 30th. Robert W. Baird set a $74.00 target price on Q2 in a research note on Thursday, April 30th. Finally, Stifel Nicolaus set a $70.00 price target on Q2 in a report on Thursday, April 30th. Seven analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, Q2 currently has an average rating of “Moderate Buy” and a consensus target price of $73.45.

Q2 Stock Performance

Shares of QTWO opened at $52.88 on Thursday. The stock has a market capitalization of $3.31 billion, a P/E ratio of 47.21 and a beta of 1.33. The company’s fifty day moving average is $48.10 and its two-hundred day moving average is $51.86. Q2 has a 1 year low of $40.79 and a 1 year high of $92.66.

Q2 (NYSE:QTWO) last announced its quarterly earnings data on Wednesday, April 29th. The technology company reported $0.63 EPS for the quarter, missing analysts’ consensus estimates of $0.71 by ($0.08). The firm had revenue of $216.51 million for the quarter, compared to analysts’ expectations of $214.40 million. Q2 had a return on equity of 14.68% and a net margin of 8.99%.The firm’s quarterly revenue was up 14.1% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.07 EPS. Sell-side analysts predict that Q2 will post 1.64 EPS for the current year.

Institutional Trading of Q2

Hedge funds and other institutional investors have recently made changes to their positions in the stock. William Blair Investment Management LLC raised its stake 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 worth $194,451,000 after buying an additional 553,713 shares during the last quarter. Peregrine Capital Management LLC grew its stake in Q2 by 48.7% in the 4th quarter. Peregrine Capital Management LLC now owns 143,243 shares of the technology company’s stock valued at $10,336,000 after acquiring an additional 46,903 shares during the last quarter. Vanguard Group Inc. increased its holdings in Q2 by 1.0% during the 4th quarter. Vanguard Group Inc. now owns 7,995,133 shares of the technology company’s stock valued at $576,929,000 after acquiring an additional 82,827 shares in the last quarter. New Age Alpha Advisors LLC purchased a new position in Q2 during the 4th quarter valued at about $3,080,000. Finally, BNP Paribas Financial Markets raised its position in Q2 by 207.2% during the fourth quarter. BNP Paribas Financial Markets now owns 136,871 shares of the technology company’s stock worth $9,877,000 after acquiring 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.