Q2 (NYSE:QTWO) Given Buy Rating at DA Davidson

Key Points

• DA Davidson reiterated a Buy rating on Q2 with an $82 price target, implying roughly a 66% upside from the stock's current ~ $49 level.
• Analyst consensus is a Moderate Buy (eight Buys, four Holds) with an average target of $77, although several firms recently trimmed targets into the high-$60s.
• Insiders have sold 411,087 shares (~$20.7M) over the past 90 days and now own just 3% of the company, which may be a cautionary signal for investors.

Q2 (NYSE:QTWO - Get Free Report)'s stock had its "buy" rating reiterated by equities research analysts at DA Davidson in a note issued to investors on Tuesday,Benzinga reports. They presently have a $82.00 target price on the technology company's stock. DA Davidson's target price would indicate a potential upside of 66.35% from the stock's current price.

Several other equities analysts have also weighed in on QTWO. Royal Bank Of Canada reduced their price target on shares of Q2 from $86.00 to $67.00 and set a "sector perform" rating for the company in a research report on Thursday, February 12th. UBS Group set a $67.00 target price on Q2 in a report on Thursday, February 12th. Morgan Stanley set a $68.00 price objective on Q2 in a research report on Thursday, February 12th. Weiss Ratings reissued a "hold (c-)" rating on shares of Q2 in a report on Tuesday, April 21st. Finally, Wall Street Zen downgraded shares of Q2 from a "strong-buy" rating to a "buy" rating in a report on Sunday, April 12th. Eight analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. Based on data from MarketBeat, Q2 has an average rating of "Moderate Buy" and an average target price of $77.00.

Q2 Price Performance

Shares of NYSE QTWO traded up $0.74 during trading hours on Tuesday, reaching $49.30. The stock had a trading volume of 175,954 shares, compared to its average volume of 925,446. The business's fifty day moving average is $49.16 and its two-hundred day moving average is $60.84. The company has a market cap of $3.08 billion, a price-to-earnings ratio of 62.48 and a beta of 1.42. Q2 has a twelve month low of $44.65 and a twelve month high of $96.68.

Insider Buying and Selling

In other Q2 news, CFO Jonathan Price sold 32,156 shares of the stock in a transaction that occurred on Wednesday, March 4th. The shares were sold at an average price of $49.75, for a total value of $1,599,761.00. Following the completion of the sale, the chief financial officer owned 197,135 shares of the company's stock, valued at $9,807,466.25. This trade represents a 14.02% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Kimberly Anne Rutledge sold 20,948 shares of the business's stock in a transaction on Thursday, March 5th. The shares were sold at an average price of $51.66, for a total transaction of $1,082,173.68. Following the transaction, the insider directly owned 88,078 shares of the company's stock, valued at approximately $4,550,109.48. This trade represents a 19.21% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 411,087 shares of company stock worth $20,702,472 over the last 90 days. Company insiders own 3.00% of the company's stock.

Institutional Investors Weigh In On Q2

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Y Intercept Hong Kong Ltd bought a new position in Q2 during the 1st quarter worth $5,367,000. Elevation Point Wealth Partners LLC bought a new stake in Q2 during the 1st quarter worth $244,000. Root Financial Partners LLC bought a new stake in shares of Q2 during the first quarter worth about $25,000. Inspire Investing LLC boosted its holdings in Q2 by 55.9% in the first quarter. Inspire Investing LLC now owns 12,482 shares of the technology company's stock valued at $590,000 after acquiring an additional 4,478 shares during the last quarter. Finally, Fort Washington Investment Advisors Inc. OH boosted its position in Q2 by 73.0% during the first quarter. Fort Washington Investment Advisors Inc. OH now owns 488,080 shares of the technology company's stock valued at $23,086,000 after acquiring an additional 205,970 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.

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.