BTIG Research Boosts Q2 (NYSE:QTWO) Price Target to $60.00

Q2 (NYSE:QTWO) had its price objective boosted by BTIG Research from $48.00 to $60.00 in a report released on Thursday morning, Benzinga reports. They currently have a buy rating on the technology company’s stock.

Several other equities analysts have also issued reports on QTWO. Truist Financial reissued a buy rating and set a $65.00 price objective (up from $60.00) on shares of Q2 in a report on Thursday. Robert W. Baird boosted their price target on Q2 from $60.00 to $65.00 and gave the stock an outperform rating in a research report on Thursday. Royal Bank of Canada upped their price objective on Q2 from $46.00 to $60.00 and gave the stock a sector perform rating in a research note on Thursday. Canaccord Genuity Group boosted their target price on shares of Q2 from $40.00 to $55.00 and gave the stock a buy rating in a report on Friday, February 23rd. Finally, Stifel Nicolaus boosted their price objective on shares of Q2 from $48.00 to $60.00 and gave the stock a buy rating in a research note on Wednesday, April 24th. Four investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of Moderate Buy and an average target price of $55.33.

Q2 Price Performance

Q2 stock opened at $60.36 on Thursday. The firm has a market capitalization of $3.63 billion, a PE ratio of -44.71 and a beta of 1.47. Q2 has a 12-month low of $21.21 and a 12-month high of $60.98. The firm has a 50-day moving average price of $50.79 and a 200-day moving average price of $43.21. The company has a current ratio of 2.38, a quick ratio of 2.23 and a debt-to-equity ratio of 1.06.

Q2 (NYSE:QTWO) last announced its quarterly earnings data on Wednesday, February 21st. The technology company reported ($0.06) earnings per share for the quarter, beating analysts’ consensus estimates 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 company had revenue of $162.12 million during the quarter, compared to analyst estimates of $161.31 million. As a group, equities research analysts forecast that Q2 will post -0.02 EPS for the current year.

Insiders Place Their Bets

In related news, CEO Matthew P. Flake sold 45,000 shares of the business’s stock in a transaction on Wednesday, February 7th. The shares were sold at an average price of $41.76, for a total value of $1,879,200.00. Following the completion of the sale, the chief executive officer now owns 473,411 shares of the company’s stock, valued at approximately $19,769,643.36. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other news, CEO Matthew P. Flake sold 45,000 shares of Q2 stock in a transaction dated Wednesday, February 7th. The shares were sold at an average price of $41.76, for a total value of $1,879,200.00. Following the sale, the chief executive officer now owns 473,411 shares in the company, valued at $19,769,643.36. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Matthew P. Flake sold 33,767 shares of the business’s stock in a transaction dated 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 sale, the chief executive officer now directly owns 473,411 shares of the company’s stock, valued at approximately $20,323,534.23. The disclosure for this sale can be found here. Over the last quarter, insiders sold 290,702 shares of company stock worth $13,014,042. Company insiders own 3.60% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the company. Vanguard Group Inc. boosted its stake in 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 purchasing an additional 487,111 shares during the last quarter. Wasatch Advisors LP lifted its stake in shares of Q2 by 10.8% in the first quarter. Wasatch Advisors LP now owns 4,078,877 shares of the technology company’s stock worth $214,386,000 after buying an additional 398,871 shares in the last quarter. Conestoga Capital Advisors LLC boosted its position in Q2 by 0.7% during the first quarter. Conestoga Capital Advisors LLC now owns 2,218,924 shares of the technology company’s stock worth $116,627,000 after acquiring an additional 15,510 shares during the last quarter. North Reef Capital Management LP grew its stake in Q2 by 21.2% during the 3rd quarter. North Reef Capital Management LP now owns 2,070,000 shares of the technology company’s stock valued at $66,799,000 after acquiring an additional 362,227 shares in the last quarter. Finally, Jennison Associates LLC raised 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 acquiring an additional 235,582 shares during the last quarter.

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.