Q2 (NYSE:QTWO) Price Target Raised to $72.00

Q2 (NYSE:QTWO) had its price objective boosted by JPMorgan Chase & Co. from $60.00 to $72.00 in a research report report published on Monday morning,Benzinga reports. JPMorgan Chase & Co. currently has an overweight rating on the technology company’s stock.

QTWO has been the topic of a number of other reports. Needham & Company LLC raised their target price on shares of Q2 from $70.00 to $75.00 and gave the stock a “buy” rating in a research report on Thursday, July 30th. Stifel Nicolaus increased their price objective on Q2 from $70.00 to $75.00 and gave the stock a “buy” rating in a research note on Thursday, July 30th. Morgan Stanley increased their price objective on Q2 from $63.00 to $68.00 and gave the stock an “equal weight” rating in a research note on Friday, July 31st. Wall Street Zen upgraded Q2 from a “hold” rating to a “buy” rating in a report on Saturday, August 1st. Finally, UBS Group set a $68.00 target price on Q2 in a research report on Friday, July 31st. One analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and three have issued a Hold rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $75.09.

Q2 Trading Up 1.5%

NYSE QTWO opened at $64.85 on Monday. The company’s 50-day moving average price is $56.13 and its 200-day moving average price is $51.34. The stock has a market cap of $4.04 billion, a PE ratio of 46.32 and a beta of 1.30. Q2 has a 12 month low of $40.79 and a 12 month high of $85.19.

Q2 (NYSE:QTWO) last announced its quarterly earnings data on Wednesday, July 29th. The technology company reported $0.70 earnings per share for the quarter, beating analysts’ consensus estimates of $0.68 by $0.02. The company had revenue of $219.77 million during the quarter, compared to analyst estimates of $216.86 million. Q2 had a net margin of 10.87% and a return on equity of 17.04%. The firm’s revenue for the quarter was up 12.6% on a year-over-year basis. During the same quarter last year, the business posted $0.18 EPS. As a group, sell-side analysts forecast that Q2 will post 1.84 earnings per share for the current year.

Insider Activity

In other news, CFO Jonathan Price sold 77,180 shares of the company’s stock in a transaction that occurred on Thursday, August 13th. The shares were sold at an average price of $65.71, for a total value of $5,071,497.80. Following the completion of the sale, the chief financial officer owned 207,633 shares of the company’s stock, valued at approximately $13,643,564.43. This represents a 27.10% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Kimberly Anne Rutledge sold 10,000 shares of the stock in a transaction that occurred on Monday, August 10th. The shares were sold at an average price of $63.07, for a total transaction of $630,700.00. Following the transaction, the insider owned 113,913 shares in the company, valued at approximately $7,184,492.91. This represents a 8.07% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 0.88% of the company’s stock.

Institutional Trading of Q2

Hedge funds and other institutional investors have recently bought and sold shares of the stock. California State Teachers Retirement System lifted its holdings in Q2 by 0.3% in the 2nd 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 in the last quarter. Maryland State Retirement & Pension System grew its holdings in shares of 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. Oregon Public Employees Retirement Fund grew its holdings in shares of Q2 by 1.4% during the fourth 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 in the last quarter. Advisors Asset Management Inc. raised its position in shares of Q2 by 35.0% in the first 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 stake in shares of Q2 in the second quarter valued at about $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.