DA Davidson Increases Q2 (NYSE:QTWO) Price Target to $65.00

Q2 (NYSE:QTWO) had its price objective boosted by analysts at DA Davidson from $58.00 to $65.00 in a report issued on Friday, Benzinga reports. The brokerage currently has a “buy” rating on the technology company’s stock. DA Davidson’s price target indicates a potential upside of 7.69% from the stock’s current price.

A number of other brokerages have also recently issued reports on QTWO. Truist Financial reaffirmed a “buy” rating and issued a $65.00 price objective (up previously from $60.00) on shares of Q2 in a research note on Thursday. Piper Sandler raised their price target on shares of Q2 from $47.00 to $61.00 and gave the stock a “neutral” rating in a report on Friday. Needham & Company LLC upped their price objective on shares of Q2 from $58.00 to $65.00 and gave the company a “buy” rating in a research note on Thursday. Morgan Stanley reiterated an “equal weight” rating and set a $50.00 target price (up from $40.00) on shares of Q2 in a report on Thursday. Finally, Royal Bank of Canada increased their price objective on Q2 from $46.00 to $60.00 and gave the stock a “sector perform” rating in a report on Thursday. Four investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $55.33.

Q2 Price Performance

Shares of NYSE:QTWO opened at $60.36 on Friday. The company has a 50 day moving average of $50.79 and a 200 day moving average 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. The stock has a market cap of $3.63 billion, a P/E 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.

Q2 (NYSE:QTWO) last posted 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. Q2 had a negative return on equity of 5.88% and a negative net margin of 12.35%. The business had revenue of $162.12 million during the quarter, compared to analysts’ expectations of $161.31 million. As a group, sell-side analysts forecast that Q2 will post -0.02 EPS for the current fiscal year.

Insider Activity at Q2

In other Q2 news, Director R. H. Seale sold 689 shares of Q2 stock in a transaction dated 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 transaction, the director now directly owns 420,769 shares of the company’s stock, valued at $20,512,488.75. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In other Q2 news, CEO Matthew P. Flake sold 45,000 shares of the stock in a transaction on Monday, February 5th. The stock was sold at an average price of $41.09, for a total transaction of $1,849,050.00. Following the sale, the chief executive officer now directly owns 473,411 shares in the company, valued at approximately $19,452,457.99. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director R. H. Seale sold 689 shares of Q2 stock in a transaction 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 completion of the sale, the director now directly owns 420,769 shares of the company’s stock, valued at approximately $20,512,488.75. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 290,702 shares of company stock valued at $13,014,042. 3.60% of the stock is owned by insiders.

Hedge Funds Weigh In On Q2

A number of hedge funds have recently bought and sold shares of the business. Jennison Associates LLC grew its position 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 purchasing an additional 729,959 shares during the period. Vanguard Group Inc. grew its holdings in shares of Q2 by 7.5% in the third quarter. Vanguard Group Inc. now owns 6,952,848 shares of the technology company’s stock worth $224,368,000 after acquiring an additional 487,111 shares during the period. Norges Bank purchased a new stake in Q2 during the fourth quarter valued at $20,470,000. Victory Capital Management Inc. lifted its holdings in Q2 by 855.4% in the fourth quarter. Victory Capital Management Inc. now owns 451,647 shares of the technology company’s stock valued at $19,606,000 after acquiring an additional 404,372 shares during the period. Finally, Wasatch Advisors LP boosted its position in 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 purchasing an additional 398,871 shares during the last quarter.

About Q2

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.