Truist Financial Reaffirms Buy Rating for Q2 (NYSE:QTWO)

Truist Financial restated their buy rating on shares of Q2 (NYSE:QTWO) in a report released on Thursday morning, Benzinga reports. The firm currently has a $65.00 price objective on the technology company’s stock, up from their prior price objective of $60.00.

A number of other analysts have also issued reports on the stock. Piper Sandler lifted their price objective on shares of Q2 from $41.00 to $47.00 and gave the company a neutral rating in a research note on Thursday, February 22nd. DA Davidson boosted their price objective on shares of Q2 from $48.00 to $58.00 and gave the stock a buy rating in a report on Tuesday, February 27th. Robert W. Baird upped their price objective on shares of Q2 from $60.00 to $65.00 and gave the company an outperform rating in a research report on Thursday. Canaccord Genuity Group boosted their price target on Q2 from $40.00 to $55.00 and gave the stock a buy rating in a research note on Friday, February 23rd. Finally, Stifel Nicolaus increased their target price on Q2 from $48.00 to $60.00 and gave the company 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 given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of Moderate Buy and an average price target of $55.33.

Q2 Price Performance

Q2 stock opened at $60.36 on Thursday. The firm has a fifty day moving average of $50.79 and a 200-day moving average of $43.21. The company has a quick ratio of 2.23, a current ratio of 2.38 and a debt-to-equity ratio of 1.06. Q2 has a 52-week low of $21.21 and a 52-week high of $60.98. The firm has a market capitalization of $3.63 billion, a P/E ratio of -44.71 and a beta of 1.47.

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 the consensus estimate of ($0.10) by $0.04. The company had revenue of $162.12 million during the quarter, compared to the consensus estimate of $161.31 million. Q2 had a negative return on equity of 5.88% and a negative net margin of 12.35%. As a group, analysts predict that Q2 will post -0.02 EPS for the current year.

Insider Activity at Q2

In other Q2 news, Director R. H. Seale sold 689 shares of the company’s 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 owns 420,769 shares in the company, valued at approximately $20,512,488.75. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In other Q2 news, Director R. H. Seale sold 689 shares of the business’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 completion of the transaction, the director now owns 420,769 shares in the company, valued at approximately $20,512,488.75. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Matthew P. Flake sold 45,000 shares of the firm’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 transaction, the chief executive officer now directly owns 473,411 shares in the company, valued at $19,769,643.36. The disclosure for this sale can be found here. Insiders have sold a total of 290,702 shares of company stock worth $13,014,042 in the last ninety days. 3.60% of the stock is owned by insiders.

Hedge Funds Weigh In On Q2

Hedge funds have recently modified their holdings of the stock. MCF Advisors LLC lifted its position in shares of Q2 by 156.5% in the 4th quarter. MCF Advisors LLC now owns 613 shares of the technology company’s stock valued at $27,000 after acquiring an additional 374 shares in the last quarter. International Assets Investment Management LLC boosted its position in shares of Q2 by 2,582.4% in the fourth quarter. International Assets Investment Management LLC now owns 912 shares of the technology company’s stock worth $40,000 after buying an additional 878 shares during the period. Arcadia Investment Management Corp MI grew its holdings in shares of Q2 by 193.7% during the fourth quarter. Arcadia Investment Management Corp MI now owns 1,119 shares of the technology company’s stock valued at $49,000 after buying an additional 738 shares in the last quarter. Fidelis Capital Partners LLC purchased a new stake in Q2 in the 1st quarter worth about $50,000. Finally, RiverPark Advisors LLC lifted its stake in Q2 by 261.0% in the 4th quarter. RiverPark Advisors LLC now owns 1,332 shares of the technology company’s stock worth $58,000 after acquiring an additional 963 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.