Q2 (NYSE:QTWO) PT Raised to $65.00

Q2 (NYSE:QTWO) had its price target raised by Needham & Company LLC from $58.00 to $65.00 in a report published on Thursday, Benzinga reports. Needham & Company LLC currently has a buy rating on the technology company’s stock.

Other equities research analysts have also issued research reports about the stock. Truist Financial reissued a buy rating and issued a $60.00 price objective (up previously from $50.00) on shares of Q2 in a research report on Friday, April 19th. DA Davidson increased their price target 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 raised their price objective on Q2 from $39.00 to $51.00 and gave the company a buy rating in a research report on Tuesday, January 23rd. Robert W. Baird upped their target price on Q2 from $60.00 to $65.00 and gave the stock an outperform rating in a research report on Thursday. Finally, Piper Sandler raised their target price 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 assigned a buy rating to the company’s stock. According to MarketBeat.com, Q2 presently has a consensus rating of Moderate Buy and a consensus price target of $55.33.

Q2 Price Performance

Shares of Q2 stock opened at $60.36 on Thursday. The stock 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 current ratio of 2.38, a quick ratio of 2.23 and a debt-to-equity ratio of 1.06. The business’s fifty day moving average price is $50.79 and its 200 day moving average price is $43.29. Q2 has a twelve month low of $21.21 and a twelve month high of $60.98.

Q2 (NYSE:QTWO) last released its quarterly earnings data 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 business 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 5.88% and a negative net margin of 12.35%. As a group, research analysts anticipate that Q2 will post -0.02 earnings per share for the current year.

Insider Activity at Q2

In other 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 sale, the director now owns 420,769 shares in the company, valued at approximately $20,512,488.75. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other Q2 news, CEO Matthew P. Flake sold 45,000 shares of the business’s stock in a transaction on Wednesday, February 7th. The shares were sold at an average price of $41.76, for a total transaction of $1,879,200.00. Following the completion of the sale, the chief executive officer now owns 473,411 shares in the company, valued at $19,769,643.36. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director R. H. Seale sold 689 shares of the 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 sale, the director now directly owns 420,769 shares in the company, valued at $20,512,488.75. The disclosure for this sale can be found here. Insiders have sold 245,702 shares of company stock valued at $11,164,992 over the last ninety days. Corporate insiders own 3.60% of the company’s stock.

Institutional Investors Weigh In On Q2

Institutional investors have recently modified their holdings of the business. RiverPark Advisors LLC boosted its stake in Q2 by 361.4% in the first quarter. RiverPark Advisors LLC now owns 6,146 shares of the technology company’s stock valued at $323,000 after acquiring an additional 4,814 shares during the period. Chase Investment Counsel Corp acquired a new stake in shares of Q2 during the 1st quarter worth approximately $2,363,000. Jennison Associates LLC lifted its holdings in shares of Q2 by 14.6% in the 1st quarter. Jennison Associates LLC now owns 1,852,407 shares of the technology company’s stock worth $97,363,000 after purchasing an additional 235,582 shares during the last quarter. Nordea Investment Management AB boosted its position in Q2 by 45.2% during the 1st quarter. Nordea Investment Management AB now owns 64,826 shares of the technology company’s stock valued at $3,456,000 after purchasing an additional 20,195 shares during the period. Finally, Fidelis Capital Partners LLC acquired a new position in Q2 during the 1st quarter valued at approximately $50,000.

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.