Q2 (NYSE:QTWO) Reaches New 52-Week High After Analyst Upgrade

Q2 Holdings, Inc. (NYSE:QTWO) hit a new 52-week high on Wednesday after Stifel Nicolaus raised their price target on the stock from $48.00 to $60.00. Stifel Nicolaus currently has a buy rating on the stock. Q2 traded as high as $54.50 and last traded at $53.83, with a volume of 43765 shares changing hands. The stock had previously closed at $53.39.

A number of other research analysts also recently commented on QTWO. Canaccord Genuity Group upped their price objective on Q2 from $40.00 to $55.00 and gave the stock a “buy” rating in a research note on Friday, February 23rd. Robert W. Baird upped their price objective on Q2 from $50.00 to $60.00 and gave the stock an “outperform” rating in a research note on Monday, March 18th. 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 note on Tuesday, January 23rd. DA Davidson upped their price objective on Q2 from $48.00 to $58.00 and gave the stock a “buy” rating in a research note on Tuesday, February 27th. Finally, TheStreet upgraded Q2 from a “d+” rating to a “c-” rating in a research note on Friday, December 29th. Four equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $48.20.

Insider Activity

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 value of $33,588.75. Following the completion of the sale, the director now owns 420,769 shares in the company, valued at $20,512,488.75. The sale was disclosed in a legal filing with the SEC, which is available at this link. 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 value of $33,588.75. Following the completion of the sale, the director now owns 420,769 shares in the company, valued at $20,512,488.75. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Kimberly Anne Rutledge sold 741 shares of the company’s stock in a transaction on Wednesday, March 13th. The shares were sold at an average price of $50.10, for a total value of $37,124.10. Following the completion of the sale, the insider now owns 74,535 shares of the company’s stock, valued at approximately $3,734,203.50. The disclosure for this sale can be found here. Insiders sold a total of 337,639 shares of company stock worth $14,994,784 over the last 90 days. 3.60% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Q2

Several hedge funds have recently modified their holdings of the stock. Vanguard Group Inc. lifted its holdings 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 valued at $224,368,000 after purchasing an additional 487,111 shares during the last quarter. Wasatch Advisors LP raised its position in 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 buying an additional 398,871 shares during the period. Conestoga Capital Advisors LLC raised its position in Q2 by 13.2% during the fourth quarter. Conestoga Capital Advisors LLC now owns 2,203,414 shares of the technology company’s stock valued at $95,650,000 after buying an additional 256,802 shares during the period. North Reef Capital Management LP raised its position in 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 period. Finally, Jennison Associates LLC raised its position in Q2 by 32.0% during the fourth quarter. Jennison Associates LLC now owns 1,616,825 shares of the technology company’s stock valued at $70,186,000 after buying an additional 391,539 shares during the period.

Q2 Stock Down 1.7 %

The stock has a market capitalization of $3.12 billion, a price-to-earnings ratio of -46.81 and a beta of 1.49. The company has a quick ratio of 2.23, a current ratio of 2.23 and a debt-to-equity ratio of 1.09. The firm has a 50-day moving average of $49.47 and a two-hundred day moving average of $42.22.

Q2 (NYSE:QTWO) last posted its quarterly earnings results on Wednesday, February 21st. The technology company reported ($0.06) earnings per share for the quarter, beating the consensus estimate of ($0.10) by $0.04. The firm had revenue of $162.12 million for the quarter, compared to analyst estimates of $161.31 million. Q2 had a negative return on equity of 6.75% and a negative net margin of 10.47%. As a group, sell-side analysts anticipate that Q2 Holdings, Inc. will post -0.05 earnings per share for the current year.

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.