Q2 (NYSE:QTWO) Rating Increased to Strong-Buy at Zacks Research

Q2 (NYSE:QTWO) was upgraded by equities researchers at Zacks Research from a “hold” rating to a “strong-buy” rating in a research report issued to clients and investors on Thursday,Zacks.com reports.

Several other research firms also recently commented on QTWO. Wall Street Zen raised shares of Q2 from a “hold” rating to a “buy” rating in a research report on Saturday. Morgan Stanley raised their price target on shares of Q2 from $63.00 to $68.00 and gave the company an “equal weight” rating in a report on Friday. Stifel Nicolaus lifted their price objective on shares of Q2 from $70.00 to $75.00 and gave the company a “buy” rating in a research note on Thursday. Needham & Company LLC upped their price objective on shares of Q2 from $70.00 to $75.00 and gave the stock a “buy” rating in a report on Thursday. Finally, JPMorgan Chase & Co. lowered their target price on shares of Q2 from $80.00 to $60.00 and set an “overweight” rating on the stock in a research report on Monday, June 22nd. One 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’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $74.00.

Q2 Stock Performance

Shares of NYSE QTWO opened at $61.00 on Thursday. The stock has a market cap of $3.80 billion, a price-to-earnings ratio of 43.57 and a beta of 1.33. The business has a 50 day simple moving average of $49.57 and a 200 day simple moving average of $51.50. Q2 has a 52 week low of $40.79 and a 52 week high of $90.08.

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

Hedge Funds Weigh In On Q2

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. California State Teachers Retirement System raised its position in shares of Q2 by 0.3% in 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 purchasing an additional 194 shares during the period. Maryland State Retirement & Pension System boosted its holdings in shares of Q2 by 2.2% during the 4th 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 during the period. Oregon Public Employees Retirement Fund boosted its holdings in shares of Q2 by 1.4% during the 4th quarter. Oregon Public Employees Retirement Fund now owns 14,300 shares of the technology company’s stock worth $1,032,000 after buying an additional 200 shares during the period. Advisors Asset Management Inc. grew its stake in Q2 by 35.0% in the 1st quarter. Advisors Asset Management Inc. now owns 849 shares of the technology company’s stock valued at $68,000 after buying an additional 220 shares during the last quarter. Finally, Headlands Technologies LLC acquired a new position in Q2 in the 2nd quarter valued at $26,000.

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.