Q2 (NYSE:QTWO) Given New $60.00 Price Target at Stifel Nicolaus

Q2 (NYSE:QTWO) had its price target raised by Stifel Nicolaus from $48.00 to $60.00 in a research note issued to investors on Wednesday morning, Benzinga reports. The firm currently has a buy rating on the technology company’s stock.

Other analysts have also recently issued research reports about the company. Truist Financial restated a buy rating and set a $60.00 target price (up previously from $50.00) on shares of Q2 in a report on Friday, April 19th. Robert W. Baird raised their price target on Q2 from $50.00 to $60.00 and gave the company an outperform rating in a report on Monday, March 18th. Piper Sandler raised their price target on Q2 from $41.00 to $47.00 and gave the company a neutral rating in a report on Thursday, February 22nd. TheStreet upgraded Q2 from a d+ rating to a c- rating in a report on Friday, December 29th. Finally, DA Davidson raised their price target on Q2 from $48.00 to $58.00 and gave the company a buy rating in a report on Tuesday, February 27th. Four analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of Moderate Buy and a consensus price target of $48.20.

Q2 Trading Up 0.7 %

Shares of QTWO stock opened at $53.75 on Wednesday. The stock’s fifty day moving average is $49.29 and its 200-day moving average is $42.15. The company has a debt-to-equity ratio of 1.09, a quick ratio of 2.23 and a current ratio of 2.23. Q2 has a 52 week low of $21.21 and a 52 week high of $54.50.

Q2 (NYSE:QTWO) last announced its earnings results on Wednesday, February 21st. The technology company reported ($0.06) EPS for the quarter, topping the consensus estimate of ($0.10) by $0.04. The company had revenue of $162.12 million for the quarter, compared to analysts’ expectations of $161.31 million. Q2 had a negative return on equity of 6.75% and a negative net margin of 10.47%. As a group, sell-side analysts forecast that Q2 will post -0.05 EPS for the current year.

Insider Transactions at Q2

In related news, Director R. H. Seale sold 689 shares of Q2 stock in a transaction that occurred on Monday, March 11th. The stock was 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 of the company’s stock, valued at approximately $20,512,488.75. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In related news, Director R. H. Seale sold 689 shares of Q2 stock in a transaction that occurred on Monday, March 11th. The stock was 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 of the company’s stock, valued at approximately $20,512,488.75. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director R. H. Seale sold 9,000 shares of Q2 stock in a transaction that occurred on Friday, April 19th. The shares were sold at an average price of $50.10, for a total value of $450,900.00. Following the completion of the sale, the director now directly owns 363,754 shares in the company, valued at approximately $18,224,075.40. The disclosure for this sale can be found here. Insiders have sold a total of 337,639 shares of company stock valued at $14,994,784 over the last 90 days. 3.60% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in QTWO. Counterpoint Mutual Funds LLC acquired a new position in shares of Q2 during the 3rd quarter worth approximately $97,000. Coronation Fund Managers Ltd. increased its position in shares of Q2 by 9.1% during the 3rd quarter. Coronation Fund Managers Ltd. now owns 395,778 shares of the technology company’s stock worth $12,772,000 after purchasing an additional 33,076 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank increased its position in shares of Q2 by 29.0% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 9,439 shares of the technology company’s stock worth $305,000 after purchasing an additional 2,123 shares during the last quarter. Washington Capital Management Inc. acquired a new position in shares of Q2 during the 3rd quarter worth approximately $526,000. Finally, Oak Ridge Investments LLC acquired a new position in shares of Q2 during the 3rd quarter worth approximately $2,906,000.

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.