Q2 (NYSE:QTWO) Sets New 12-Month High at $63.08

Q2 Holdings, Inc. (NYSE:QTWO) hit a new 52-week high during mid-day trading on Thursday . The stock traded as high as $63.08 and last traded at $62.85, with a volume of 25994 shares trading hands. The stock had previously closed at $62.34.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on QTWO. Piper Sandler increased their price objective on shares of Q2 from $47.00 to $61.00 and gave the company a “neutral” rating in a research report on Friday, May 3rd. BTIG Research boosted their target price on Q2 from $48.00 to $60.00 and gave the stock a “buy” rating in a research report on Thursday, May 2nd. Robert W. Baird boosted their price objective on shares of Q2 from $60.00 to $65.00 and gave the stock an “outperform” rating in a report on Thursday, May 2nd. Morgan Stanley restated an “equal weight” rating and set a $50.00 price objective (up from $40.00) on shares of Q2 in a research report on Thursday, May 2nd. Finally, The Goldman Sachs Group boosted their price objective on shares of Q2 from $52.00 to $59.00 and gave the company a “buy” rating in a research report on Thursday, May 2nd. Four investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $55.33.

Q2 Stock Performance

The company has a market cap of $3.76 billion, a P/E ratio of -46.80 and a beta of 1.47. The company has a quick ratio of 2.38, a current ratio of 2.38 and a debt-to-equity ratio of 1.06. The company has a 50 day moving average price of $51.73 and a 200-day moving average price of $43.84.

Q2 (NYSE:QTWO) last released its earnings results on Wednesday, February 21st. The technology company reported ($0.06) EPS for the quarter, beating the consensus estimate of ($0.10) by $0.04. Q2 had a negative net margin of 12.35% and a negative return on equity of 5.88%. The firm had revenue of $162.12 million for the quarter, compared to analysts’ expectations of $161.31 million. Equities analysts expect that Q2 Holdings, Inc. will post -0.02 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, CFO David J. Mehok sold 5,806 shares of the stock in a transaction on Monday, March 4th. The stock was sold at an average price of $46.01, for a total transaction of $267,134.06. Following the completion of the sale, the chief financial officer now owns 159,085 shares in the company, valued at approximately $7,319,500.85. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, CEO Matthew P. Flake sold 33,767 shares of the company’s stock in a transaction on Friday, February 9th. The stock was sold at an average price of $42.93, for a total transaction of $1,449,617.31. Following the transaction, the chief executive officer now directly owns 473,411 shares of the company’s stock, valued at $20,323,534.23. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO David J. Mehok sold 5,806 shares of the firm’s stock in a transaction dated Monday, March 4th. The stock was sold at an average price of $46.01, for a total value of $267,134.06. Following the sale, the chief financial officer now owns 159,085 shares of the company’s stock, valued at $7,319,500.85. The disclosure for this sale can be found here. Over the last three months, insiders have sold 200,702 shares of company stock worth $9,285,792. 3.60% of the stock is owned by corporate insiders.

Institutional Trading of Q2

Institutional investors have recently made changes to their positions in the stock. Jennison Associates LLC increased its stake in shares of 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 last quarter. Vanguard Group Inc. boosted its stake in shares of 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 acquiring an additional 487,111 shares in the last quarter. Norges Bank bought a new position in shares of Q2 in the 4th quarter valued at approximately $20,470,000. Victory Capital Management Inc. lifted its holdings in Q2 by 855.4% in the 4th quarter. Victory Capital Management Inc. now owns 451,647 shares of the technology company’s stock worth $19,606,000 after purchasing an additional 404,372 shares during the last quarter. Finally, Wasatch Advisors LP boosted its position in Q2 by 10.8% during the first quarter. Wasatch Advisors LP now owns 4,078,877 shares of the technology company’s stock worth $214,386,000 after purchasing an additional 398,871 shares during the period.

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.