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

Key Points

• DA Davidson reiterated a buy rating on Q2 Holdings and set an $82 price target, implying about 52% upside from the stock’s current level.
• Other analysts remain generally constructive: Q2 has a Moderate Buy consensus with an average price target of $73.45, though some firms have been more cautious or cut targets recently.
• Q2 recently reported mixed quarterly results, missing EPS estimates but beating on revenue, while shares traded around $53.83 and remain well below the stock’s 52-week high of $92.66.

Q2 (NYSE:QTWO - Get Free Report)'s stock had its "buy" rating restated by stock analysts at DA Davidson in a report issued on Thursday,Benzinga reports. They currently have a $82.00 target price on the technology company's stock. DA Davidson's price target suggests a potential upside of 52.33% from the stock's current price.

QTWO has been the subject of a number of other reports. Stifel Nicolaus set a $70.00 price target on shares of Q2 in a report on Thursday, April 30th. Needham & Company LLC reissued a "buy" rating and issued a $70.00 price objective on shares of Q2 in a research report on Thursday, April 30th. Weiss Ratings restated a "hold (c-)" rating on shares of Q2 in a research note on Friday, July 17th. JPMorgan Chase & Co. dropped their target price on Q2 from $80.00 to $60.00 and set an "overweight" rating on the stock in a research report on Monday, June 22nd. Finally, Robert W. Baird set a $74.00 price target on Q2 in a research note on Thursday, April 30th. Seven analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company's stock. According to MarketBeat, Q2 has a consensus rating of "Moderate Buy" and an average price target of $73.45.

Q2 Stock Performance

Shares of NYSE:QTWO traded up $0.97 during mid-day trading on Thursday, hitting $53.83. 279,712 shares of the company traded hands, compared to its average volume of 903,143. The firm's 50 day simple moving average is $47.94 and its 200 day simple moving average is $51.98. The firm has a market cap of $3.37 billion, a P/E ratio of 47.97 and a beta of 1.33. Q2 has a 52-week low of $40.79 and a 52-week high of $92.66.

Q2 (NYSE:QTWO - Get Free Report) last issued its quarterly earnings data 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). Q2 had a net margin of 8.99% and a return on equity of 14.68%. The firm had revenue of $216.51 million during the quarter, compared to analyst estimates of $214.40 million. During the same period last year, the business earned $0.07 EPS. The firm's revenue was up 14.1% compared to the same quarter last year. Equities research analysts expect that Q2 will post 1.64 EPS for the current fiscal year.

Institutional Trading of Q2

Several institutional investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. increased its position in shares of Q2 by 1.0% in the 4th quarter. Vanguard Group Inc. now owns 7,995,133 shares of the technology company's stock worth $576,929,000 after purchasing an additional 82,827 shares during the last quarter. Capital Research Global Investors grew its stake in Q2 by 86.2% in the fourth quarter. Capital Research Global Investors now owns 3,141,044 shares of the technology company's stock worth $226,658,000 after purchasing an additional 1,454,076 shares in the last quarter. William Blair Investment Management LLC grew its stake in Q2 by 25.9% in the fourth quarter. William Blair Investment Management LLC now owns 2,694,718 shares of the technology company's stock worth $194,451,000 after purchasing an additional 553,713 shares in the last quarter. Wasatch Advisors LP increased its holdings in Q2 by 2.9% in the third quarter. Wasatch Advisors LP now owns 2,158,053 shares of the technology company's stock valued at $156,221,000 after buying an additional 60,016 shares during the last quarter. Finally, Assenagon Asset Management S.A. increased its holdings in Q2 by 119.0% in the first 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.

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.