Q2 (NYSE:QTWO) Earns Buy Rating from Truist Financial

Truist Financial reaffirmed their buy rating on shares of Q2 (NYSE:QTWO) in a research report released on Friday, Benzinga reports. They currently have a $60.00 price target on the technology company’s stock, up from their prior price target of $50.00.

A number of other brokerages have also weighed in on QTWO. Piper Sandler boosted their target price on shares of Q2 from $41.00 to $47.00 and gave the company a neutral rating in a research note on Thursday, February 22nd. Needham & Company LLC boosted their target price on shares of Q2 from $50.00 to $58.00 and gave the company a buy rating in a research note on Thursday, February 22nd. Robert W. Baird boosted their target price on shares of Q2 from $50.00 to $60.00 and gave the company an outperform rating in a research note on Monday, March 18th. The Goldman Sachs Group boosted their price objective on shares of Q2 from $39.00 to $51.00 and gave the company a buy rating in a research report on Tuesday, January 23rd. Finally, Canaccord Genuity Group boosted their price objective on shares of Q2 from $40.00 to $55.00 and gave the company a buy rating in a research report on Friday, February 23rd. Four investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Q2 currently has an average rating of Moderate Buy and an average price target of $45.33.

Q2 Price Performance

Shares of NYSE QTWO opened at $51.75 on Friday. Q2 has a twelve month low of $21.21 and a twelve month high of $53.96. The firm has a market cap of $3.06 billion, a P/E ratio of -45.80 and a beta of 1.49. The company has a 50 day moving average of $48.85 and a 200 day moving average of $41.91. The company has a quick ratio of 2.23, a current ratio of 2.23 and a debt-to-equity ratio of 1.09.

Q2 (NYSE:QTWO) last announced its 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. The business had revenue of $162.12 million during the quarter, compared to analyst estimates of $161.31 million. Q2 had a negative net margin of 10.47% and a negative return on equity of 6.75%. As a group, research analysts expect that Q2 will post -0.05 EPS for the current fiscal year.

Insider Buying and Selling

In related news, CEO Matthew P. Flake sold 45,000 shares of the company’s stock in a transaction on 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 transaction, the chief executive officer now owns 473,411 shares of the company’s stock, valued at approximately $19,452,457.99. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In other Q2 news, CEO Matthew P. Flake sold 33,767 shares of the business’s 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 sale, the chief executive officer now owns 473,411 shares in the company, valued at approximately $20,323,534.23. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Matthew P. Flake sold 45,000 shares of the business’s stock in a transaction on Monday, February 5th. The stock was sold at an average price of $41.09, for a total transaction of $1,849,050.00. Following the completion of the sale, the chief executive officer now 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 sold 337,639 shares of company stock valued at $14,994,784. Company insiders own 3.60% of the company’s stock.

Institutional Trading of Q2

Several hedge funds have recently bought and sold shares of the stock. Natixis Advisors L.P. raised its position in shares of Q2 by 1.6% during the 4th quarter. Natixis Advisors L.P. now owns 16,188 shares of the technology company’s stock valued at $702,000 after buying an additional 259 shares in the last quarter. Contravisory Investment Management Inc. raised its position in shares of Q2 by 4.4% during the 1st quarter. Contravisory Investment Management Inc. now owns 7,164 shares of the technology company’s stock valued at $377,000 after buying an additional 304 shares in the last quarter. Arizona State Retirement System raised its position in shares of Q2 by 2.2% during the 3rd quarter. Arizona State Retirement System now owns 16,570 shares of the technology company’s stock valued at $535,000 after buying an additional 352 shares in the last quarter. Diversified Trust Co raised its position in shares of Q2 by 2.7% during the 4th quarter. Diversified Trust Co now owns 13,670 shares of the technology company’s stock valued at $593,000 after buying an additional 363 shares in the last quarter. Finally, MCF Advisors LLC raised its position in shares of Q2 by 156.5% during the 4th quarter. MCF Advisors LLC now owns 613 shares of the technology company’s stock valued at $27,000 after buying an additional 374 shares in the last quarter.

Q2 Company Profile

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.