Q2 (NYSE:QTWO) Price Target Increased to $65.00 by Analysts at Robert W. Baird

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

Other research analysts also recently issued reports about the company. Needham & Company LLC boosted their target price on Q2 from $50.00 to $58.00 and gave the stock a buy rating in a research note on Thursday, February 22nd. Stifel Nicolaus upped their price target on shares of Q2 from $48.00 to $60.00 and gave the company a buy rating in a research note on Wednesday, April 24th. DA Davidson lifted their price objective on shares of Q2 from $48.00 to $58.00 and gave the stock a buy rating in a research note on Tuesday, February 27th. Piper Sandler upped their target price on Q2 from $41.00 to $47.00 and gave the company a neutral rating in a research report on Thursday, February 22nd. Finally, The Goldman Sachs Group lifted their price target on Q2 from $39.00 to $51.00 and gave the stock a buy rating in a research report on Tuesday, January 23rd. Four equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of Moderate Buy and an average target price of $55.33.

Q2 Trading Up 1.3 %

Shares of QTWO opened at $60.36 on Thursday. Q2 has a twelve month low of $21.21 and a twelve month high of $60.98. 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 company’s fifty day simple moving average is $50.79 and its 200-day simple moving average is $43.21. The company has a market cap of $3.63 billion, a P/E ratio of -44.71 and a beta of 1.47.

Q2 (NYSE:QTWO) last announced its quarterly earnings results on Wednesday, February 21st. The technology company reported ($0.06) EPS for the quarter, beating the consensus estimate of ($0.10) by $0.04. Q2 had a negative return on equity of 5.88% and a negative net margin of 12.35%. The firm had revenue of $162.12 million for the quarter, compared to analyst estimates of $161.31 million. As a group, analysts expect that Q2 will post -0.02 EPS for the current year.

Insiders Place Their Bets

In related news, CEO Matthew P. Flake sold 45,000 shares of the company’s stock in a transaction dated Wednesday, February 7th. The stock was sold at an average price of $41.76, for a total value of $1,879,200.00. Following the completion of the transaction, the chief executive officer now owns 473,411 shares of the company’s stock, valued at approximately $19,769,643.36. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, CEO Matthew P. Flake sold 33,767 shares of the firm’s stock in a transaction dated Friday, February 9th. The shares were sold at an average price of $42.93, for a total value of $1,449,617.31. Following the transaction, the chief executive officer now directly owns 473,411 shares of the company’s stock, valued at approximately $20,323,534.23. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Matthew P. Flake sold 45,000 shares of the business’s stock in a transaction that occurred on Wednesday, February 7th. The stock was sold at an average price of $41.76, for a total value of $1,879,200.00. Following the sale, the chief executive officer now owns 473,411 shares of the company’s stock, valued at $19,769,643.36. The disclosure for this sale can be found here. Over the last quarter, insiders sold 290,702 shares of company stock worth $13,014,042. Company insiders own 3.60% of the company’s stock.

Institutional Investors Weigh In On Q2

A number of hedge funds have recently modified their holdings of the business. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in shares of Q2 by 29.0% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 9,439 shares of the technology company’s stock worth $305,000 after acquiring an additional 2,123 shares during the last quarter. Washington Capital Management Inc. acquired a new stake in Q2 during the third quarter worth about $526,000. Oak Ridge Investments LLC acquired a new position in Q2 in the 3rd quarter valued at about $2,906,000. Jennison Associates LLC grew its stake in shares of Q2 by 147.4% in the 3rd quarter. Jennison Associates LLC now owns 1,225,286 shares of the technology company’s stock valued at $39,540,000 after buying an additional 729,959 shares during the period. Finally, Teacher Retirement System of Texas acquired a new stake in shares of Q2 during the 3rd quarter worth approximately $268,000.

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.