Q2 (NYSE:QTWO) Receives “Buy” Rating from Truist Financial

Q2 (NYSE:QTWO)‘s stock had its “buy” rating reaffirmed by research analysts at Truist Financial in a research report issued on Thursday, Benzinga reports. They currently have a $65.00 price target on the technology company’s stock, up from their prior price target of $60.00. Truist Financial’s target price indicates a potential upside of 16.97% from the stock’s previous close.

Several other equities analysts have also recently weighed in on the company. Canaccord Genuity Group boosted their price objective on Q2 from $40.00 to $55.00 and gave the stock a “buy” rating in a research report on Friday, February 23rd. Needham & Company LLC upped their price target on Q2 from $58.00 to $65.00 and gave the company a “buy” rating in a report on Thursday. The Goldman Sachs Group upped their price target on Q2 from $39.00 to $51.00 and gave the company a “buy” rating in a report on Tuesday, January 23rd. Robert W. Baird upped their price target on Q2 from $60.00 to $65.00 and gave the company an “outperform” rating in a report on Thursday. Finally, Stifel Nicolaus upped their price target on Q2 from $48.00 to $60.00 and gave the company a “buy” rating in a report on Wednesday, April 24th. Four analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $49.33.

Q2 Stock Performance

Shares of NYSE QTWO traded up $3.84 during trading hours on Thursday, hitting $55.57. 207,163 shares of the company’s stock were exchanged, compared to its average volume of 608,952. Q2 has a 1-year low of $21.21 and a 1-year high of $56.71. The company has a debt-to-equity ratio of 1.09, a current ratio of 2.23 and a quick ratio of 2.23. The stock has a market capitalization of $3.28 billion, a price-to-earnings ratio of -48.91 and a beta of 1.47. The company’s 50-day moving average price is $50.26 and its 200-day moving average price is $42.83.

Q2 (NYSE:QTWO) last posted its quarterly earnings data on Wednesday, February 21st. The technology company reported ($0.06) earnings per share for the quarter, topping the consensus estimate of ($0.10) by $0.04. Q2 had a negative return on equity of 6.75% and a negative net margin of 10.47%. The business had revenue of $162.12 million during the quarter, compared to analysts’ expectations of $161.31 million. On average, sell-side analysts expect that Q2 will post -0.05 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, Director R. H. Seale sold 689 shares of the stock in a transaction that occurred on Monday, March 11th. The stock was sold at an average price of $48.75, for a total transaction of $33,588.75. Following the sale, the director now directly owns 420,769 shares in the company, valued at approximately $20,512,488.75. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In other Q2 news, CRO Michael A. Volanoski sold 2,369 shares of the stock in a transaction on Wednesday, March 13th. The stock was sold at an average price of $50.10, for a total value of $118,686.90. Following the transaction, the executive now directly owns 174,024 shares in the company, valued at approximately $8,718,602.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director R. H. Seale sold 689 shares of the stock in a transaction on Monday, March 11th. The shares were sold at an average price of $48.75, for a total value of $33,588.75. Following the completion of the transaction, the director now owns 420,769 shares in the company, valued at $20,512,488.75. The disclosure for this sale can be found here. Insiders have sold a total of 337,639 shares of company stock worth $14,994,784 in the last three months. Insiders own 3.60% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of QTWO. MCF Advisors LLC boosted its position in shares of Q2 by 156.5% in the 4th quarter. MCF Advisors LLC now owns 613 shares of the technology company’s stock worth $27,000 after purchasing an additional 374 shares during the last quarter. International Assets Investment Management LLC boosted its position in shares of Q2 by 2,582.4% in the 4th quarter. International Assets Investment Management LLC now owns 912 shares of the technology company’s stock worth $40,000 after purchasing an additional 878 shares during the last quarter. Arcadia Investment Management Corp MI boosted its position in shares of Q2 by 193.7% in the 4th quarter. Arcadia Investment Management Corp MI now owns 1,119 shares of the technology company’s stock worth $49,000 after purchasing an additional 738 shares during the last quarter. Fidelis Capital Partners LLC bought a new position in shares of Q2 in the 1st quarter worth $50,000. Finally, RiverPark Advisors LLC boosted its position in shares of Q2 by 261.0% in the 4th quarter. RiverPark Advisors LLC now owns 1,332 shares of the technology company’s stock worth $58,000 after purchasing an additional 963 shares during the last quarter.

Q2 Company Profile

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.