Piper Sandler Reiterates “Overweight” Rating for Q2 (NYSE:QTWO)

Q2 (NYSE:QTWO)‘s stock had its “overweight” rating reissued by equities research analysts at Piper Sandler in a report released on Tuesday, Benzinga reports. They presently have a $82.00 price target on the technology company’s stock. Piper Sandler’s target price would suggest a potential upside of 44.74% from the stock’s previous close.

Several other research analysts have also recently weighed in on the stock. Morgan Stanley lifted their price target on shares of Q2 from $63.00 to $68.00 and gave the stock an “equal weight” rating in a research note on Friday, July 31st. UBS Group set a $68.00 target price on Q2 in a report on Friday, July 31st. Weiss Ratings raised Q2 from a “hold (c-)” rating to a “hold (c)” rating in a report on Friday, July 31st. JPMorgan Chase & Co. upped their price target on Q2 from $60.00 to $72.00 and gave the stock an “overweight” rating in a research report on Monday, August 24th. Finally, Wall Street Zen downgraded Q2 from a “buy” rating to a “hold” rating in a research note on Saturday, August 29th. One analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $76.17.

Q2 Stock Down 2.2%

NYSE:QTWO traded down $1.28 on Tuesday, hitting $56.65. The stock had a trading volume of 154,469 shares, compared to its average volume of 875,577. The business’s 50-day simple moving average is $60.82 and its two-hundred day simple moving average is $52.58. The stock has a market cap of $3.53 billion, a price-to-earnings ratio of 40.41 and a beta of 1.33. Q2 has a 52-week low of $40.79 and a 52-week high of $79.18.

Q2 (NYSE:QTWO) last issued its quarterly earnings data on Wednesday, July 29th. The technology company reported $0.70 earnings per share for the quarter, topping the consensus estimate of $0.68 by $0.02. The firm had revenue of $219.77 million for the quarter, compared to analysts’ expectations of $216.86 million. Q2 had a net margin of 10.87% and a return on equity of 17.04%. The business’s quarterly revenue was up 12.6% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.18 EPS. As a group, equities research analysts anticipate that Q2 will post 1.8 EPS for the current year.

Insider Activity at Q2

In related news, insider Kimberly Rutledge sold 10,000 shares of the company’s stock in a transaction on Monday, August 10th. The shares were sold at an average price of $63.07, for a total value of $630,700.00. Following the completion of the transaction, the insider owned 113,913 shares of the company’s stock, valued at approximately $7,184,492.91. This represents a 8.07% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Jonathan Price sold 77,180 shares of the stock in a transaction on Thursday, August 13th. The stock was 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 $13,643,564.43. The trade was a 27.10% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders have sold 87,816 shares of company stock worth $5,740,968. 0.88% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in QTWO. Root Financial Partners LLC bought a new position in Q2 in the 1st quarter worth approximately $25,000. Optiver Holding B.V. raised its position in shares of Q2 by 1,578.9% during the first quarter. Optiver Holding B.V. now owns 638 shares of the technology company’s stock valued at $30,000 after buying an additional 600 shares during the last quarter. Allworth Financial LP lifted its holdings in shares of Q2 by 48.1% in the second quarter. Allworth Financial LP now owns 1,120 shares of the technology company’s stock worth $54,000 after buying an additional 364 shares in the last quarter. Harbor Investment Advisory LLC bought a new position in shares of Q2 during the second quarter worth $61,000. Finally, Global Retirement Partners LLC boosted its position in shares of Q2 by 2,831.9% during the fourth quarter. Global Retirement Partners LLC now owns 1,378 shares of the technology company’s stock worth $99,000 after acquiring an additional 1,331 shares during the last quarter.

About Q2

Q2 Holdings, Inc provides digital transformation solutions for banks, credit unions, fintech companies and other financial institutions. Its cloud-based technology is designed to help these organizations deliver digital banking experiences across online and mobile channels while supporting customer engagement, account opening and financial product access.

The company’s offerings include digital banking software, lending and loan-origination technology, financial data and analytics tools, and solutions for payment, fraud and financial crime management.