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

Q2 (NYSE:QTWO) was upgraded by research analysts at Wall Street Zen from a “hold” rating to a “buy” rating in a research note issued to investors on Saturday.

QTWO has been the topic of several other research reports. DA Davidson reaffirmed a “buy” rating and set a $82.00 target price on shares of Q2 in a research note on Thursday, July 23rd. UBS Group set a $68.00 price target on Q2 in a research note on Friday. Robert W. Baird set a $74.00 price target on Q2 in a report on Thursday, April 30th. 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. Finally, 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. One analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and three have issued a Hold rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $74.00.

Q2 Trading Up 0.2%

QTWO opened at $61.00 on Friday. The business’s 50 day moving average is $49.57 and its 200-day moving average is $51.37. The stock has a market cap of $3.80 billion, a PE ratio of 43.57 and a beta of 1.30. Q2 has a twelve month low of $40.79 and a twelve month high of $90.08.

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

Hedge Funds Weigh In On Q2

Several hedge funds have recently modified their holdings of QTWO. Capital Research Global Investors increased its holdings in shares of Q2 by 86.2% in the fourth quarter. Capital Research Global Investors now owns 3,141,044 shares of the technology company’s stock valued at $226,658,000 after buying an additional 1,454,076 shares in the last quarter. UBS Group AG lifted its position in shares of Q2 by 343.5% during the 3rd quarter. UBS Group AG now owns 1,009,946 shares of the technology company’s stock valued at $73,110,000 after acquiring an additional 782,220 shares during the last quarter. Assenagon Asset Management S.A. boosted its stake in shares of Q2 by 119.0% during the 1st quarter. Assenagon Asset Management S.A. now owns 1,210,419 shares of the technology company’s stock worth $57,253,000 after acquiring an additional 657,707 shares in the last quarter. Norges Bank bought a new stake in shares of Q2 during the 4th quarter worth $44,960,000. Finally, William Blair Investment Management LLC grew its holdings in shares of Q2 by 25.9% in 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 acquiring an additional 553,713 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.