Q2 (NYSE:QTWO) Price Target Raised to $59.00

Q2 (NYSE:QTWO) had its price objective raised by The Goldman Sachs Group from $52.00 to $59.00 in a research note published on Thursday, Benzinga reports. The brokerage currently has a buy rating on the technology company’s stock.

A number of other brokerages also recently issued reports on QTWO. Canaccord Genuity Group increased 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. Stifel Nicolaus raised their price target on shares of Q2 from $48.00 to $60.00 and gave the company a buy rating in a report on Wednesday, April 24th. Robert W. Baird increased their price objective on Q2 from $60.00 to $65.00 and gave the stock an outperform rating in a research report on Thursday. Truist Financial restated a buy rating and set a $65.00 target price (up from $60.00) on shares of Q2 in a research report on Thursday. Finally, 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. Four analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of Moderate Buy and a consensus target price of $55.33.

Q2 Stock Performance

Shares of QTWO opened at $60.36 on Thursday. The company has a debt-to-equity ratio of 1.06, a current ratio of 2.38 and a quick ratio of 2.23. The firm has a market cap of $3.63 billion, a PE ratio of -44.71 and a beta of 1.47. Q2 has a 1 year low of $21.21 and a 1 year high of $60.98. The stock’s fifty day moving average price is $50.79 and its two-hundred day moving average price is $43.21.

Q2 (NYSE:QTWO) last issued its earnings results on Wednesday, February 21st. The technology company reported ($0.06) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.10) by $0.04. The firm had revenue of $162.12 million during the quarter, compared to analyst estimates of $161.31 million. Q2 had a negative net margin of 12.35% and a negative return on equity of 5.88%. On average, equities research analysts forecast that Q2 will post -0.02 EPS for the current year.

Insider Activity at Q2

In related news, CFO David J. Mehok sold 5,806 shares of Q2 stock in a transaction dated Monday, March 4th. The stock was 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 directly owns 159,085 shares in the company, valued at approximately $7,319,500.85. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other Q2 news, CFO David J. Mehok sold 5,806 shares of the firm’s stock in a transaction dated Monday, March 4th. The stock was sold at an average price of $46.01, for a total value of $267,134.06. Following the transaction, the chief financial officer now directly owns 159,085 shares of the company’s stock, valued at $7,319,500.85. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director R. H. Seale sold 689 shares of the stock in a transaction that occurred on Monday, March 11th. The stock was sold at an average price of $48.75, for a total transaction of $33,588.75. Following the completion of the transaction, the director now owns 420,769 shares in the company, valued at $20,512,488.75. The disclosure for this sale can be found here. Insiders sold 290,702 shares of company stock valued at $13,014,042 over the last 90 days. Corporate insiders own 3.60% of the company’s stock.

Institutional Trading of Q2

Several institutional investors and hedge funds have recently modified their holdings of the company. Vanguard Group Inc. grew its position in shares of Q2 by 7.5% during the third 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 in the last quarter. Wasatch Advisors LP boosted its stake in Q2 by 10.8% in the 1st 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 period. Conestoga Capital Advisors LLC grew its holdings in Q2 by 0.7% during the 1st quarter. Conestoga Capital Advisors LLC now owns 2,218,924 shares of the technology company’s stock valued at $116,627,000 after buying an additional 15,510 shares in the last quarter. North Reef Capital Management LP raised its position in shares of Q2 by 21.2% during the third quarter. North Reef Capital Management LP now owns 2,070,000 shares of the technology company’s stock valued at $66,799,000 after buying an additional 362,227 shares during the last quarter. Finally, Jennison Associates LLC lifted its holdings in shares of Q2 by 14.6% in the first quarter. Jennison Associates LLC now owns 1,852,407 shares of the technology company’s stock worth $97,363,000 after buying an additional 235,582 shares in 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.