Robert W. Baird Raises Q2 (NYSE:QTWO) Price Target to $65.00

Q2 (NYSE:QTWO) had its target price raised by Robert W. Baird from $60.00 to $65.00 in a research note published on Thursday morning, Benzinga reports. The firm currently has an outperform rating on the technology company’s stock.

Several other equities analysts have also recently issued reports on QTWO. DA Davidson boosted their price objective on Q2 from $48.00 to $58.00 and gave the company a buy rating in a report on Tuesday, February 27th. The Goldman Sachs Group upped their price objective on Q2 from $39.00 to $51.00 and gave the stock a buy rating in a research report on Tuesday, January 23rd. Canaccord Genuity Group lifted their target price on shares of Q2 from $40.00 to $55.00 and gave the company 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 research report on Wednesday, April 24th. Finally, Piper Sandler upped their price objective on shares of Q2 from $41.00 to $47.00 and gave the stock a neutral rating in a research report on Thursday, February 22nd. Four research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. According to MarketBeat.com, Q2 currently has a consensus rating of Moderate Buy and a consensus price target of $55.33.

Q2 Price Performance

Shares of NYSE QTWO opened at $60.36 on Thursday. Q2 has a fifty-two week low of $21.21 and a fifty-two week high of $60.98. The company has a debt-to-equity ratio of 1.06, a quick ratio of 2.23 and a current ratio of 2.38. The company has a market cap of $3.63 billion, a PE ratio of -44.71 and a beta of 1.47. The business has a 50-day simple moving average of $50.79 and a two-hundred day simple moving average of $43.21.

Q2 (NYSE:QTWO) last released its earnings results on Wednesday, February 21st. The technology company reported ($0.06) earnings per share for the quarter, topping 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 5.88%. The company had revenue of $162.12 million for the quarter, compared to the consensus estimate of $161.31 million. As a group, equities analysts expect that Q2 will post -0.02 EPS for the current fiscal year.

Insider Transactions at Q2

In other Q2 news, CFO David J. Mehok sold 5,806 shares of the business’s stock in a transaction on Monday, March 4th. The shares were sold at an average price of $46.01, for a total value of $267,134.06. Following the completion of the transaction, the chief financial officer now owns 159,085 shares in the company, valued at $7,319,500.85. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In related news, CFO David J. Mehok sold 2,453 shares of Q2 stock in a transaction that occurred on Wednesday, March 13th. The shares were sold at an average price of $50.10, for a total value of $122,895.30. Following the completion of the transaction, the chief financial officer now owns 151,846 shares in the company, valued at $7,607,484.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO David J. Mehok sold 5,806 shares of the stock in a transaction that occurred on Monday, March 4th. The shares were sold at an average price of $46.01, for a total transaction 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 $7,319,500.85. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 290,702 shares of company stock valued at $13,014,042. 3.60% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Q2

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Vanguard Group Inc. raised its holdings in 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 shares of Q2 by 10.8% during the first quarter. Wasatch Advisors LP now owns 4,078,877 shares of the technology company’s stock valued at $214,386,000 after acquiring an additional 398,871 shares during the last quarter. Conestoga Capital Advisors LLC lifted its holdings in Q2 by 0.7% in 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 purchasing an additional 15,510 shares in the last quarter. North Reef Capital Management LP lifted its holdings in Q2 by 21.2% in 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 purchasing an additional 362,227 shares in the last quarter. Finally, Jennison Associates LLC grew its holdings in shares of Q2 by 14.6% during 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.