Q2 (NYSE:QTWO) Downgraded to "Hold" Rating by Wall Street Zen

Q2 (NYSE:QTWO - Get Free Report) was downgraded by equities research analysts at Wall Street Zen from a "buy" rating to a "hold" rating in a report released on Saturday.

Several other research analysts have also commented on the stock. Needham & Company LLC raised their price target on shares of Q2 from $70.00 to $75.00 and gave the company a "buy" rating in a report on Thursday, July 30th. Morgan Stanley boosted their price objective 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 price objective on shares of Q2 in a research report on Friday, July 31st. Weiss Ratings raised shares of Q2 from a "hold (c-)" rating to a "hold (c)" rating in a research note on Friday, July 31st. Finally, Stifel Nicolaus lifted their target price on shares of Q2 from $70.00 to $75.00 and gave the company a "buy" rating in a report on Thursday, July 30th. One investment analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and three have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $75.09.

Q2 Trading Down 1.1%

QTWO stock opened at $64.97 on Friday. The company has a market cap of $4.05 billion, a PE ratio of 46.41 and a beta of 1.30. The stock has a 50-day moving average price of $57.03 and a two-hundred day moving average price of $51.50. Q2 has a 12-month low of $40.79 and a 12-month high of $85.19.

Q2 (NYSE:QTWO - Get Free Report) 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 company 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 company's quarterly revenue was up 12.6% compared to the same quarter last year. During the same period last year, the business posted $0.18 EPS. Equities analysts forecast that Q2 will post 1.84 EPS for the current fiscal year.

Insider Activity

In other Q2 news, CFO Jonathan Price sold 77,180 shares of the company's stock in a transaction that occurred 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 transaction, the chief financial officer owned 207,633 shares in the company, valued at $13,643,564.43. This represents a 27.10% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 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 completion of the sale, the insider directly owned 113,913 shares of the company's stock, valued at $7,184,492.91. This trade represents a 8.07% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Company insiders own 0.88% of the company's stock.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the company. California State Teachers Retirement System grew its holdings in Q2 by 4,299.6% during the 2nd quarter. California State Teachers Retirement System now owns 3,199,564 shares of the technology company's stock valued at $153,899,000 after purchasing an additional 3,126,840 shares in the last quarter. Capital Research Global Investors lifted its holdings in Q2 by 86.2% in the 4th quarter. Capital Research Global Investors now owns 3,141,044 shares of the technology company's stock worth $226,658,000 after buying an additional 1,454,076 shares in the last quarter. UBS Group AG lifted its holdings in Q2 by 343.5% in the 3rd quarter. UBS Group AG now owns 1,009,946 shares of the technology company's stock worth $73,110,000 after buying an additional 782,220 shares in the last quarter. Assenagon Asset Management S.A. boosted its position in Q2 by 119.0% in the 1st quarter. Assenagon Asset Management S.A. now owns 1,210,419 shares of the technology company's stock valued at $57,253,000 after buying an additional 657,707 shares during the last quarter. Finally, Norges Bank purchased a new position in Q2 in the 4th quarter valued at about $44,960,000.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source