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

Q2 Holdings, Inc. (NYSE:QTWO) shares hit a new 52-week high on Thursday after DA Davidson raised their price target on the stock from $58.00 to $65.00. DA Davidson currently has a buy rating on the stock. Q2 traded as high as $56.71 and last traded at $55.13, with a volume of 126739 shares trading hands. The stock had previously closed at $51.73.

Other analysts also recently issued research reports about the stock. BTIG Research boosted their target price on shares of Q2 from $48.00 to $60.00 and gave the stock a “buy” rating in a research report on Thursday. Royal Bank of Canada boosted their price objective on shares of Q2 from $46.00 to $60.00 and gave the company a “sector perform” rating in a report on Thursday. Stifel Nicolaus raised their target price on Q2 from $48.00 to $60.00 and gave the stock a “buy” rating in a research note on Wednesday, April 24th. The Goldman Sachs Group boosted their price target on Q2 from $52.00 to $59.00 and gave the company a “buy” rating in a research note on Thursday. Finally, Needham & Company LLC raised their price objective on Q2 from $58.00 to $65.00 and gave the stock a “buy” rating in a research note on Thursday. Four research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $55.33.

Insider Activity

In related news, CRO Michael A. Volanoski sold 2,369 shares of the stock in a transaction on Wednesday, March 13th. The shares were sold at an average price of $50.10, for a total transaction of $118,686.90. Following the sale, the executive now directly owns 174,024 shares of the company’s stock, valued at $8,718,602.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In related news, CRO Michael A. Volanoski sold 2,369 shares of the company’s stock in a transaction dated Wednesday, March 13th. The stock was sold at an average price of $50.10, for a total value of $118,686.90. Following the completion of the transaction, the executive now owns 174,024 shares of the company’s stock, valued at approximately $8,718,602.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director R. H. Seale sold 689 shares of the firm’s stock in a transaction that occurred 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 completion of the sale, the director now directly owns 420,769 shares in the company, valued at $20,512,488.75. The disclosure for this sale can be found here. Insiders sold a total of 290,702 shares of company stock valued at $13,014,042 in the last three months. 3.60% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Q2

Institutional investors have recently bought and sold shares of the company. RiverPark Advisors LLC lifted its position in shares of Q2 by 361.4% in the first quarter. RiverPark Advisors LLC now owns 6,146 shares of the technology company’s stock valued at $323,000 after acquiring an additional 4,814 shares in the last quarter. Chase Investment Counsel Corp acquired a new position in Q2 in the 1st quarter valued at $2,363,000. Jennison Associates LLC lifted its holdings in Q2 by 14.6% in the 1st quarter. Jennison Associates LLC now owns 1,852,407 shares of the technology company’s stock valued at $97,363,000 after purchasing an additional 235,582 shares in the last quarter. Nordea Investment Management AB boosted its stake in Q2 by 45.2% during the 1st quarter. Nordea Investment Management AB now owns 64,826 shares of the technology company’s stock worth $3,456,000 after purchasing an additional 20,195 shares during the last quarter. Finally, Fidelis Capital Partners LLC purchased a new stake in shares of Q2 during the first quarter worth $50,000.

Q2 Price Performance

The stock’s 50-day moving average price is $50.79 and its 200 day moving average price is $43.14. The company has a quick ratio of 2.23, a current ratio of 2.23 and a debt-to-equity ratio of 1.09. The firm has a market capitalization of $3.57 billion, a price-to-earnings ratio of -44.71 and a beta of 1.47.

Q2 (NYSE:QTWO) last announced its quarterly earnings data on Wednesday, February 21st. The technology company reported ($0.06) earnings per share (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 5.95%. The company had revenue of $162.12 million during the quarter, compared to analysts’ expectations of $161.31 million. Equities research analysts expect that Q2 Holdings, Inc. will post -0.05 earnings per share 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.