Walleye Capital LLC Acquires Shares of 29,101 Q2 Holdings, Inc. $QTWO

Key Points

• Walleye Capital LLC opened a new position in Q2 Holdings during the first quarter, buying 29,101 shares worth about $1.38 million.
• Institutional interest in Q2 was mixed, with several smaller investors adding stakes while Northwestern Mutual Wealth Management sharply increased its position by 592.3%.
• Analysts remain generally positive on the stock, with a Moderate Buy consensus and an average price target of $73.45, though Q2 recently reported EPS of $0.63, below estimates.

Walleye Capital LLC acquired a new stake in Q2 Holdings, Inc. (NYSE:QTWO - Free Report) during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 29,101 shares of the technology company's stock, valued at approximately $1,376,000.

Other institutional investors and hedge funds have also made changes to their positions in the company. Headlands Technologies LLC purchased a new position in shares of Q2 during the 2nd quarter valued at approximately $26,000. Measured Wealth Private Client Group LLC purchased a new stake in Q2 in the 3rd quarter worth $26,000. Caitong International Asset Management Co. Ltd purchased a new stake in Q2 in the 4th quarter worth $27,000. Root Financial Partners LLC acquired a new position in Q2 during the first quarter worth $25,000. Finally, Northwestern Mutual Wealth Management Co. raised its position in Q2 by 592.3% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 630 shares of the technology company's stock worth $59,000 after acquiring an additional 539 shares during the period.

Analysts Set New Price Targets

Several equities analysts have issued reports on QTWO shares. Morgan Stanley set a $63.00 price objective on shares of Q2 in a report on Thursday, April 30th. DA Davidson reissued a "buy" rating and set a $82.00 target price on shares of Q2 in a research note on Thursday. JPMorgan Chase & Co. reduced their price target on shares of Q2 from $80.00 to $60.00 and set an "overweight" rating for the company in a research report on Monday, June 22nd. Wall Street Zen lowered shares of Q2 from a "buy" rating to a "hold" rating in a research note on Saturday, May 2nd. Finally, Needham & Company LLC reiterated a "buy" rating and issued a $70.00 price objective on shares of Q2 in a report on Thursday, April 30th. Seven analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $73.45.

Q2 Stock Performance

NYSE QTWO opened at $52.88 on Friday. The business has a fifty day moving average price of $48.10 and a 200 day moving average price of $51.86. The company has a market cap of $3.31 billion, a P/E ratio of 47.21 and a beta of 1.33. Q2 Holdings, Inc. has a one year low of $40.79 and a one year high of $92.66.

Q2 (NYSE:QTWO - Get Free Report) last announced its earnings results on Wednesday, April 29th. The technology company reported $0.63 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.71 by ($0.08). The business had revenue of $216.51 million for the quarter, compared to analyst estimates of $214.40 million. Q2 had a return on equity of 14.68% and a net margin of 8.99%.The company's revenue for the quarter was up 14.1% compared to the same quarter last year. During the same period last year, the firm earned $0.07 EPS. As a group, sell-side analysts predict that Q2 Holdings, Inc. will post 1.64 EPS for the current fiscal year.

Q2 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.

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