Q2’s (QTWO) Buy Rating Reiterated at DA Davidson

DA Davidson reissued their buy rating on shares of Q2 (NYSE:QTWO) in a research report sent to investors on Thursday morning,Benzinga reports. The firm currently has a $82.00 target price on the technology company’s stock.

A number of other research analysts also recently commented on QTWO. JPMorgan Chase & Co. lowered their price target on shares of Q2 from $80.00 to $60.00 and set an “overweight” rating for the company in a report on Monday, June 22nd. Stifel Nicolaus set a $70.00 price objective on Q2 in a research note on Thursday, April 30th. Morgan Stanley set a $63.00 price objective on Q2 in a research report on Thursday, April 30th. Robert W. Baird set a $74.00 price objective on Q2 in a research note on Thursday, April 30th. Finally, UBS Group set a $77.00 target price 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 stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $73.45.

Q2 Stock Performance

QTWO stock opened at $54.60 on Thursday. The firm has a fifty day moving average price of $48.28 and a 200 day moving average price of $51.88. Q2 has a fifty-two week low of $40.79 and a fifty-two week high of $92.66. The firm has a market cap of $3.42 billion, a PE ratio of 48.75 and a beta of 1.33.

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

Institutional Trading of Q2

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Root Financial Partners LLC bought a new stake in Q2 in the first quarter worth about $25,000. Headlands Technologies LLC bought a new position in shares of Q2 during the second quarter valued at approximately $26,000. Measured Wealth Private Client Group LLC purchased a new stake in shares of Q2 in the third quarter worth approximately $26,000. Caitong International Asset Management Co. Ltd purchased a new stake in shares of Q2 in the fourth quarter worth approximately $27,000. Finally, Optiver Holding B.V. lifted its stake in shares of Q2 by 1,578.9% during the 1st quarter. Optiver Holding B.V. now owns 638 shares of the technology company’s stock worth $30,000 after acquiring an additional 600 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.