Q2 (NYSE:QTWO) PT Raised to $59.00

Q2 (NYSE:QTWO) had its price target lifted by The Goldman Sachs Group from $52.00 to $59.00 in a report published on Thursday, Benzinga reports. The Goldman Sachs Group currently has a buy rating on the technology company’s stock.

Several other research analysts also recently weighed in on QTWO. Royal Bank of Canada increased their price target on shares of Q2 from $46.00 to $60.00 and gave the stock a sector perform rating in a research report on Thursday. Piper Sandler upped their price target on Q2 from $41.00 to $47.00 and gave the stock a neutral rating in a research report on Thursday, February 22nd. DA Davidson lifted their price objective on Q2 from $48.00 to $58.00 and gave the company a buy rating in a research report on Tuesday, February 27th. Truist Financial restated a buy rating and set a $65.00 target price (up previously from $60.00) on shares of Q2 in a research note on Thursday. Finally, Stifel Nicolaus upped their target price on shares of Q2 from $48.00 to $60.00 and gave the stock a buy rating in a report on Wednesday, April 24th. Four research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. According to MarketBeat.com, Q2 presently has an average rating of Moderate Buy and a consensus target price of $55.33.

Q2 Stock Performance

QTWO stock traded up $0.25 on Thursday, hitting $60.61. The company had a trading volume of 358,076 shares, compared to its average volume of 636,071. The stock has a market cap of $3.64 billion, a price-to-earnings ratio of -44.71 and a beta of 1.47. The company has a current ratio of 2.38, a quick ratio of 2.38 and a debt-to-equity ratio of 1.06. The stock’s 50-day simple moving average is $50.79 and its 200 day simple moving average is $43.29. Q2 has a 12-month low of $21.94 and a 12-month high of $61.84.

Q2 (NYSE:QTWO) last posted its quarterly earnings data on Wednesday, February 21st. The technology company reported ($0.06) EPS for the quarter, beating analysts’ consensus estimates of ($0.10) by $0.04. The company had revenue of $162.12 million during the quarter, compared to analysts’ expectations of $161.31 million. Q2 had a negative return on equity of 5.88% and a negative net margin of 12.35%. As a group, equities research analysts expect that Q2 will post -0.02 earnings per share for the current fiscal year.

Insider Activity

In other Q2 news, CEO Matthew P. Flake sold 45,000 shares of Q2 stock in a transaction on Wednesday, February 7th. The shares were sold at an average price of $41.76, for a total transaction of $1,879,200.00. Following the completion of the transaction, the chief executive officer now directly owns 473,411 shares of the company’s stock, valued at $19,769,643.36. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, CFO David J. Mehok sold 5,806 shares of the company’s stock in a transaction dated Monday, March 4th. The shares were sold at an average price of $46.01, for a total value of $267,134.06. Following the transaction, the chief financial officer now directly owns 159,085 shares in the company, valued at $7,319,500.85. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Matthew P. Flake sold 45,000 shares of the business’s stock in a transaction dated Wednesday, February 7th. The shares were sold at an average price of $41.76, for a total transaction of $1,879,200.00. Following the completion of the sale, the chief executive officer now directly owns 473,411 shares of the company’s stock, valued at $19,769,643.36. The disclosure for this sale can be found here. Insiders sold 245,702 shares of company stock valued at $11,164,992 in the last ninety days. Insiders own 3.60% of the company’s stock.

Institutional Trading of Q2

Several institutional investors and hedge funds have recently modified their holdings of QTWO. Jennison Associates LLC increased 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 purchasing an additional 729,959 shares during the period. Vanguard Group Inc. raised its holdings in shares of Q2 by 7.5% in the third quarter. Vanguard Group Inc. now owns 6,952,848 shares of the technology company’s stock valued at $224,368,000 after acquiring an additional 487,111 shares in the last quarter. Norges Bank purchased a new stake in Q2 in the fourth quarter worth about $20,470,000. Victory Capital Management Inc. grew its holdings in Q2 by 855.4% during the 4th quarter. Victory Capital Management Inc. now owns 451,647 shares of the technology company’s stock worth $19,606,000 after acquiring an additional 404,372 shares in the last quarter. Finally, Wasatch Advisors LP increased its position in Q2 by 10.8% during the 1st quarter. Wasatch Advisors LP now owns 4,078,877 shares of the technology company’s stock valued at $214,386,000 after purchasing an additional 398,871 shares during the period.

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.