Q2 (NYSE:QTWO) Sets New 12-Month High Following Analyst Upgrade

Q2 Holdings, Inc. (NYSE:QTWOGet Free Report)’s stock price hit a new 52-week high during mid-day trading on Tuesday after Robert W. Baird raised their price target on the stock from $50.00 to $60.00. Robert W. Baird currently has an outperform rating on the stock. Q2 traded as high as $51.00 and last traded at $50.93, with a volume of 433887 shares traded. The stock had previously closed at $49.43.

QTWO has been the topic of a number of other research reports. The Goldman Sachs Group raised their price objective on shares of Q2 from $39.00 to $51.00 and gave the stock a “buy” rating in a report on Tuesday, January 23rd. Needham & Company LLC raised their price objective on shares of Q2 from $50.00 to $58.00 and gave the stock a “buy” rating in a report on Thursday, February 22nd. Stifel Nicolaus raised their price objective on shares of Q2 from $15.00 to $17.00 and gave the stock a “buy” rating in a report on Thursday, February 22nd. DA Davidson raised their price objective on shares of Q2 from $48.00 to $58.00 and gave the stock a “buy” rating in a report on Tuesday, February 27th. Finally, Stephens raised shares of Q2 from an “equal weight” rating to an “overweight” rating and raised their price objective for the stock from $36.00 to $46.00 in a report on Thursday, December 7th. Four research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $43.40.

Read Our Latest Stock Analysis on QTWO

Insider Transactions at Q2

In related news, Director R. H. Seale sold 689 shares of the business’s 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 sale, the director now owns 420,769 shares in the company, valued at $20,512,488.75. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other Q2 news, 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 transaction 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO David J. Mehok sold 5,806 shares of the stock in a transaction on Monday, March 4th. The shares were sold at an average price of $46.01, for a total transaction of $267,134.06. Following the transaction, the chief financial officer now owns 159,085 shares of the company’s stock, valued at approximately $7,319,500.85. The disclosure for this sale can be found here. Insiders have sold 336,313 shares of company stock valued at $14,889,214 in the last ninety days. Corporate insiders own 3.60% of the company’s stock.

Institutional Investors Weigh In On Q2

Several institutional investors have recently made changes to their positions in QTWO. Deutsche Bank AG increased its stake in Q2 by 13.4% in 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 during the period. Jennison Associates LLC increased its stake in Q2 by 147.4% in 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 during the period. Lisanti Capital Growth LLC purchased a new position in Q2 in the 3rd quarter worth about $5,534,000. California Public Employees Retirement System increased its position in Q2 by 15.5% during the 3rd quarter. California Public Employees Retirement System now owns 105,320 shares of the technology company’s stock valued at $3,399,000 after purchasing an additional 14,155 shares during the period. Finally, Counterpoint Mutual Funds LLC purchased a new position in Q2 during the 3rd quarter valued at about $97,000.

Q2 Stock Up 1.4 %

The company has a current ratio of 2.23, a quick ratio of 2.23 and a debt-to-equity ratio of 1.09. The firm has a market cap of $3.01 billion, a PE ratio of -45.13 and a beta of 1.48. The business’s 50-day simple moving average is $44.85 and its 200 day simple moving average is $38.79.

Q2 (NYSE:QTWOGet Free Report) last posted its earnings results 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 business had revenue of $162.12 million for the quarter, compared to the consensus estimate of $161.31 million. Q2 had a negative net margin of 10.47% and a negative return on equity of 6.75%. As a group, equities research analysts expect that Q2 Holdings, Inc. will post -0.05 earnings per share for the current year.

About Q2

(Get Free Report)

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.

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