Q2 (NYSE:QTWO) Reaches New 52-Week High After Analyst Upgrade

Q2 Holdings, Inc. (NYSE:QTWO)’s share price reached a new 52-week high during mid-day trading on Wednesday after Stifel Nicolaus raised their price target on the stock from $48.00 to $60.00. Stifel Nicolaus currently has a buy rating on the stock. Q2 traded as high as $54.50 and last traded at $53.83, with a volume of 43765 shares trading hands. The stock had previously closed at $53.39.

QTWO has been the topic of a number of other reports. Canaccord Genuity Group upped their price target on shares of Q2 from $40.00 to $55.00 and gave the stock a “buy” rating in a report on Friday, February 23rd. Piper Sandler increased their target price on shares of Q2 from $41.00 to $47.00 and gave the stock a “neutral” rating in a report on Thursday, February 22nd. Robert W. Baird raised their target price on shares of Q2 from $50.00 to $60.00 and gave the company an “outperform” rating in a research report on Monday, March 18th. Truist Financial reissued a “buy” rating and set a $60.00 target price (up previously from $50.00) on shares of Q2 in a research report on Friday, April 19th. Finally, Needham & Company LLC raised their target price on shares of Q2 from $50.00 to $58.00 and gave the company a “buy” rating in a research report on Thursday, February 22nd. Four analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $48.20.

Insider Buying and Selling

In related news, CFO David J. Mehok sold 5,806 shares of the business’s stock in a transaction on Monday, March 4th. The shares were sold at an average price of $46.01, for a total value of $267,134.06. Following the completion of the sale, the chief financial officer now owns 159,085 shares of the company’s stock, valued at approximately $7,319,500.85. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. In related news, CEO Matthew P. Flake sold 45,000 shares of the business’s stock in a transaction on Monday, February 5th. The shares were sold at an average price of $41.09, for a total value of $1,849,050.00. Following the completion of the sale, the chief executive officer now owns 473,411 shares of the company’s stock, valued at approximately $19,452,457.99. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CFO David J. Mehok sold 5,806 shares of the company’s 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 sale, the chief financial officer now directly 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. In the last quarter, insiders sold 337,639 shares of company stock valued at $14,994,784. 3.60% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Q2

Large investors have recently modified their holdings of the business. Nordea Investment Management AB purchased a new stake in shares of Q2 during the fourth quarter worth $1,938,000. Vanguard Group Inc. boosted its position 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 valued at $224,368,000 after acquiring an additional 487,111 shares during the last quarter. Jennison Associates LLC boosted its position in shares of Q2 by 32.0% during the 4th quarter. Jennison Associates LLC now owns 1,616,825 shares of the technology company’s stock valued at $70,186,000 after acquiring an additional 391,539 shares during the last quarter. Deutsche Bank AG boosted its position in shares of Q2 by 13.4% during the 3rd quarter. Deutsche Bank AG now owns 29,559 shares of the technology company’s stock valued at $954,000 after acquiring an additional 3,496 shares during the last quarter. Finally, Lisanti Capital Growth LLC acquired a new position in shares of Q2 during the 3rd quarter valued at about $5,534,000.

Q2 Stock Performance

The firm’s 50-day moving average price is $49.47 and its two-hundred day moving average price is $42.22. The company has a debt-to-equity ratio of 1.09, a quick ratio of 2.23 and a current ratio of 2.23. The stock has a market cap of $3.12 billion, a price-to-earnings ratio of -46.81 and a beta of 1.49.

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

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.