Q2 (NYSE:QTWO) Price Target Raised to $60.00

Q2 (NYSE:QTWO) had its target price hoisted by Stifel Nicolaus from $48.00 to $60.00 in a report issued on Wednesday morning, Benzinga reports. Stifel Nicolaus currently has a buy rating on the technology company’s stock.

A number of other brokerages have also commented on QTWO. Needham & Company LLC increased their price objective on Q2 from $50.00 to $58.00 and gave the company a buy rating in a research report on Thursday, February 22nd. Truist Financial reiterated a buy rating and issued a $60.00 price objective (up from $50.00) on shares of Q2 in a research report on Friday, April 19th. Canaccord Genuity Group increased their price objective on Q2 from $40.00 to $55.00 and gave the company a buy rating in a research report on Friday, February 23rd. Robert W. Baird increased their price objective on Q2 from $50.00 to $60.00 and gave the company an outperform rating in a research report on Monday, March 18th. Finally, Piper Sandler increased their price objective on Q2 from $41.00 to $47.00 and gave the company a neutral rating in a research report on Thursday, February 22nd. Four analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. According to MarketBeat, Q2 presently has an average rating of Moderate Buy and a consensus target price of $48.20.

Q2 Trading Up 0.7 %

QTWO stock opened at $53.28 on Wednesday. The business has a fifty day moving average price of $49.68 and a 200 day moving average price of $42.43. Q2 has a fifty-two week low of $21.21 and a fifty-two week high of $54.50. The stock has a market capitalization of $3.15 billion, a price-to-earnings ratio of -47.15 and a beta of 1.49. The company has a debt-to-equity ratio of 1.09, a current ratio of 2.23 and a quick ratio of 2.23.

Q2 (NYSE:QTWO) last released its quarterly earnings results on Wednesday, February 21st. The technology company reported ($0.06) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.10) by $0.04. Q2 had a negative return on equity of 6.75% and a negative net margin of 10.47%. The firm had revenue of $162.12 million during the quarter, compared to analysts’ expectations of $161.31 million. Analysts expect that Q2 will post -0.05 EPS for the current fiscal year.

Insider Buying and Selling

In related news, Director R. H. Seale sold 689 shares of the firm’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 sale, 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 document filed with the Securities & Exchange Commission, which is accessible through this link. In related news, Director R. H. Seale sold 689 shares of Q2 stock in a transaction dated Monday, March 11th. The stock was 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 of the company’s stock, valued at $20,512,488.75. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Matthew P. Flake sold 45,000 shares of Q2 stock in a transaction dated Monday, February 5th. The shares were sold at an average price of $41.09, for a total value of $1,849,050.00. Following the completion of the sale, the chief executive officer now directly owns 473,411 shares in the company, valued at approximately $19,452,457.99. The disclosure for this sale can be found here. In the last quarter, insiders have sold 337,639 shares of company stock valued at $14,994,784. 3.60% of the stock is owned by company insiders.

Hedge Funds Weigh In On Q2

A number of hedge funds and other institutional investors have recently bought and sold shares of QTWO. Nordea Investment Management AB bought a new stake in shares of Q2 during the fourth quarter worth approximately $1,938,000. Vanguard Group Inc. grew its position 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 buying an additional 487,111 shares in the last quarter. Jennison Associates LLC grew 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 worth $70,186,000 after buying an additional 391,539 shares in the last quarter. Deutsche Bank AG grew its position in Q2 by 13.4% during the third quarter. Deutsche Bank AG now owns 29,559 shares of the technology company’s stock worth $954,000 after buying an additional 3,496 shares in the last quarter. Finally, Lisanti Capital Growth LLC acquired a new stake in Q2 during the third quarter worth approximately $5,534,000.

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.