Q2 (NYSE:QTWO) Price Target Raised to $61.00

Q2 (NYSE:QTWO) had its price target upped by Piper Sandler from $47.00 to $61.00 in a research note published on Friday, Benzinga reports. They currently have a neutral rating on the technology company’s stock.

Several other research firms also recently commented on QTWO. BTIG Research boosted their target price on shares of Q2 from $48.00 to $60.00 and gave the stock a buy rating in a research report on Thursday. Robert W. Baird upped their target price on Q2 from $60.00 to $65.00 and gave the company an outperform rating in a report on Thursday. Morgan Stanley reissued an equal weight rating and issued a $50.00 price objective (up previously from $40.00) on shares of Q2 in a research report on Thursday. Needham & Company LLC raised their target price on Q2 from $58.00 to $65.00 and gave the company a buy rating in a research report on Thursday. Finally, Royal Bank of Canada boosted their price target on shares of Q2 from $46.00 to $60.00 and gave the stock a sector perform rating in a report on Thursday. Four research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. According to data from MarketBeat, Q2 has an average rating of Moderate Buy and an average target price of $55.33.

Q2 Trading Up 1.9 %

NYSE QTWO traded up $1.16 during trading hours on Friday, hitting $61.52. 1,054,439 shares of the company’s stock were exchanged, compared to its average volume of 644,530. Q2 has a 1-year low of $21.94 and a 1-year high of $61.84. The company has a current ratio of 2.38, a quick ratio of 2.38 and a debt-to-equity ratio of 1.06. The stock has a 50-day simple moving average of $50.79 and a 200 day simple moving average of $43.29. The firm has a market cap of $3.70 billion, a price-to-earnings ratio of -44.71 and a beta of 1.47.

Q2 (NYSE:QTWO) last released its earnings results on Wednesday, February 21st. The technology company reported ($0.06) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.10) by $0.04. The company had revenue of $162.12 million for the quarter, compared to the consensus estimate of $161.31 million. Q2 had a negative net margin of 12.35% and a negative return on equity of 5.88%. On average, equities analysts forecast that Q2 will post -0.02 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, CEO Matthew P. Flake sold 45,000 shares of the company’s stock in a transaction that occurred 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 sale, 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 this hyperlink. In other news, CEO Matthew P. Flake sold 33,767 shares of the stock in a transaction on 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 owns 473,411 shares of the company’s stock, valued at approximately $20,323,534.23. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Matthew P. Flake sold 45,000 shares of Q2 stock in a transaction on Wednesday, February 7th. The stock was sold at an average price of $41.76, for a total transaction of $1,879,200.00. Following the sale, the chief executive officer now directly owns 473,411 shares of the company’s stock, valued at $19,769,643.36. The disclosure for this sale can be found here. Insiders sold a total of 245,702 shares of company stock worth $11,164,992 in the last quarter. 3.60% of the stock is owned by company insiders.

Institutional Investors Weigh In On Q2

A number of large investors have recently added to or reduced their stakes in the company. Jennison Associates LLC increased its position in Q2 by 147.4% during the 3rd quarter. Jennison Associates LLC now owns 1,225,286 shares of the technology company’s stock valued at $39,540,000 after purchasing an additional 729,959 shares during the period. Vanguard Group Inc. increased its holdings in shares of Q2 by 7.5% in the 3rd quarter. Vanguard Group Inc. now owns 6,952,848 shares of the technology company’s stock worth $224,368,000 after purchasing an additional 487,111 shares in the last quarter. Norges Bank purchased a new position in Q2 in the 4th quarter worth about $20,470,000. Victory Capital Management Inc. boosted its holdings in Q2 by 855.4% in the fourth quarter. Victory Capital Management Inc. now owns 451,647 shares of the technology company’s stock worth $19,606,000 after purchasing an additional 404,372 shares during the last quarter. Finally, Wasatch Advisors LP boosted its stake in shares of Q2 by 10.8% in the 1st quarter. Wasatch Advisors LP now owns 4,078,877 shares of the technology company’s stock worth $214,386,000 after buying an additional 398,871 shares during the last quarter.

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.