Q2 (NYSE:QTWO) Earns Buy Rating from Truist Financial

Truist Financial reissued their buy rating on shares of Q2 (NYSE:QTWO) in a research report sent to investors on Friday morning, Benzinga reports. Truist Financial currently has a $60.00 price objective on the technology company’s stock, up from their previous price objective of $50.00.

A number of other research firms have also weighed in on QTWO. DA Davidson boosted their price target on shares of Q2 from $48.00 to $58.00 and gave the stock a buy rating in a research report on Tuesday, February 27th. Piper Sandler boosted their price target on shares of Q2 from $41.00 to $47.00 and gave the stock a neutral rating in a research report on Thursday, February 22nd. Robert W. Baird boosted their price target on shares of Q2 from $50.00 to $60.00 and gave the stock an outperform rating in a research report on Monday, March 18th. Needham & Company LLC boosted their price target on shares of Q2 from $50.00 to $58.00 and gave the stock a buy rating in a research report on Thursday, February 22nd. Finally, Stifel Nicolaus boosted their price target on shares of Q2 from $15.00 to $17.00 and gave the stock a buy rating in a research report on Thursday, February 22nd. Four analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. According to MarketBeat, Q2 currently has an average rating of Moderate Buy and a consensus target price of $45.33.

Q2 Stock Up 3.5 %

Shares of NYSE QTWO opened at $51.75 on Friday. The company’s 50-day simple moving average is $48.85 and its 200-day simple moving average is $41.91. Q2 has a 52-week low of $21.21 and a 52-week high of $53.96. The firm has a market cap of $3.06 billion, a price-to-earnings ratio of -45.80 and a beta of 1.49. The company has a quick ratio of 2.23, a current ratio of 2.23 and a debt-to-equity ratio of 1.09.

Q2 (NYSE:QTWO) last announced its earnings results on Wednesday, February 21st. The technology company reported ($0.06) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.10) by $0.04. Q2 had a negative net margin of 10.47% and a negative return on equity of 6.75%. The business had revenue of $162.12 million for the quarter, compared to analyst estimates of $161.31 million. Equities analysts predict that Q2 will post -0.05 EPS for the current fiscal year.

Insiders Place Their Bets

In other Q2 news, CEO Matthew P. Flake sold 45,000 shares of Q2 stock in a transaction dated Monday, February 5th. The shares were sold at an average price of $41.09, for a total transaction of $1,849,050.00. Following the transaction, the chief executive officer now directly owns 473,411 shares of the company’s stock, valued at $19,452,457.99. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, CEO Matthew P. Flake sold 45,000 shares of the business’s stock in a transaction that occurred on Monday, February 5th. The shares were sold at an average price of $41.09, for a total value of $1,849,050.00. Following the sale, the chief executive officer now directly owns 473,411 shares of the company’s stock, valued at approximately $19,452,457.99. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CRO Michael A. Volanoski sold 2,369 shares of the business’s stock in a transaction that occurred on Wednesday, March 13th. The shares were sold at an average price of $50.10, for a total transaction of $118,686.90. Following the completion of the sale, the executive now directly owns 174,024 shares in the company, valued at $8,718,602.40. The disclosure for this sale can be found here. Insiders have sold 337,639 shares of company stock valued at $14,994,784 over the last ninety days. Company insiders own 3.60% of the company’s stock.

Institutional Investors Weigh In On Q2

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Nordea Investment Management AB acquired a new stake in Q2 during the 4th quarter worth approximately $1,938,000. Vanguard Group Inc. lifted its holdings in Q2 by 7.5% during the 3rd quarter. Vanguard Group Inc. now owns 6,952,848 shares of the technology company’s stock worth $224,368,000 after buying an additional 487,111 shares in the last quarter. Deutsche Bank AG lifted its holdings in Q2 by 13.4% during the 3rd quarter. Deutsche Bank AG now owns 29,559 shares of the technology company’s stock worth $954,000 after buying an additional 3,496 shares in the last quarter. Jennison Associates LLC lifted its holdings in Q2 by 147.4% during the 3rd quarter. Jennison Associates LLC now owns 1,225,286 shares of the technology company’s stock worth $39,540,000 after buying an additional 729,959 shares in the last quarter. Finally, Lisanti Capital Growth LLC acquired a new stake in Q2 during the 3rd quarter worth approximately $5,534,000.

About Q2

Q2 Holdings, Inc provides cloud-based digital solutions to regional and community financial institutions in the United States. The company offers Digital Banking Platform, an end-to-end digital banking platform supports its financial institution customers in their delivery of unified digital banking services across digital channels.