Q2 (NYSE:QTWO) Price Target Raised to $65.00

Q2 (NYSE:QTWO) had its target price hoisted by Needham & Company LLC from $58.00 to $65.00 in a research note issued to investors on Thursday morning, Benzinga reports. They currently have a buy rating on the technology company’s stock.

Several other equities analysts have also recently weighed in on the stock. Robert W. Baird raised their price target on shares of Q2 from $60.00 to $65.00 and gave the stock an outperform rating in a research note on Thursday. Stifel Nicolaus lifted their price target on shares of Q2 from $48.00 to $60.00 and gave the company a buy rating in a research note on Wednesday, April 24th. Truist Financial restated a buy rating and set a $60.00 price objective (up from $50.00) on shares of Q2 in a research note on Friday, April 19th. DA Davidson lifted their target price on Q2 from $48.00 to $58.00 and gave the company a buy rating in a research report on Tuesday, February 27th. Finally, The Goldman Sachs Group increased their price target on Q2 from $39.00 to $51.00 and gave the company a buy rating in a research report on Tuesday, January 23rd. Four research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. According to MarketBeat, the company has an average rating of Moderate Buy and an average price target of $55.33.

Q2 Stock Up 1.3 %

Shares of Q2 stock opened at $60.36 on Thursday. The company has a market capitalization of $3.63 billion, a P/E ratio of -44.71 and a beta of 1.47. 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 business has a 50-day moving average of $50.79 and a two-hundred day moving average of $43.21. Q2 has a 1 year low of $21.21 and a 1 year high of $60.98.

Q2 (NYSE:QTWO) last posted its quarterly earnings data on Wednesday, February 21st. The technology company reported ($0.06) EPS for the quarter, beating the consensus estimate of ($0.10) by $0.04. The business had revenue of $162.12 million for the quarter, compared to analysts’ expectations of $161.31 million. Q2 had a negative net margin of 12.35% and a negative return on equity of 5.88%. As a group, equities analysts predict that Q2 will post -0.02 EPS for the current year.

Insiders Place Their Bets

In other news, Director R. H. Seale sold 689 shares of the company’s stock in a transaction 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 transaction, the director now owns 420,769 shares of the company’s stock, valued at approximately $20,512,488.75. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In related news, Director R. H. Seale sold 689 shares of the company’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 transaction of $33,588.75. Following the sale, the director now directly owns 420,769 shares in the company, valued at approximately $20,512,488.75. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Matthew P. Flake sold 45,000 shares of Q2 stock in a transaction that occurred on Monday, February 5th. The shares were sold at an average price of $41.09, for a total transaction of $1,849,050.00. Following the completion of the transaction, the chief executive officer now owns 473,411 shares of the company’s stock, valued at $19,452,457.99. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 290,702 shares of company stock valued at $13,014,042. Company insiders own 3.60% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the stock. Natixis Advisors L.P. increased its holdings in shares of Q2 by 1.6% in the fourth quarter. Natixis Advisors L.P. now owns 16,188 shares of the technology company’s stock worth $702,000 after purchasing an additional 259 shares during the period. Contravisory Investment Management Inc. boosted its position in shares of Q2 by 4.4% during the 1st quarter. Contravisory Investment Management Inc. now owns 7,164 shares of the technology company’s stock valued at $377,000 after acquiring an additional 304 shares during the last quarter. Arizona State Retirement System grew its holdings in shares of Q2 by 2.2% during the third quarter. Arizona State Retirement System now owns 16,570 shares of the technology company’s stock worth $535,000 after purchasing an additional 352 shares in the last quarter. Diversified Trust Co increased its position in shares of Q2 by 2.7% in the fourth quarter. Diversified Trust Co now owns 13,670 shares of the technology company’s stock worth $593,000 after purchasing an additional 363 shares during the last quarter. Finally, MCF Advisors LLC raised its stake in Q2 by 156.5% in the fourth quarter. MCF Advisors LLC now owns 613 shares of the technology company’s stock valued at $27,000 after purchasing an additional 374 shares in 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.