Q2 (NYSE:QTWO) Reaches New 1-Year High on Analyst Upgrade

Q2 Holdings, Inc. (NYSE:QTWO) hit a new 52-week high on Thursday after Needham & Company LLC raised their price target on the stock from $58.00 to $65.00. Needham & Company LLC currently has a buy rating on the stock. Q2 traded as high as $56.71 and last traded at $55.13, with a volume of 126739 shares changing hands. The stock had previously closed at $51.73.

Other research analysts also recently issued reports about the company. DA Davidson upped their price objective on Q2 from $48.00 to $58.00 and gave the stock a “buy” rating in a research note on Tuesday, February 27th. Canaccord Genuity Group boosted their price target on Q2 from $40.00 to $55.00 and gave the stock a “buy” rating in a research report on Friday, February 23rd. The Goldman Sachs Group boosted 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. Robert W. Baird boosted their price target on Q2 from $60.00 to $65.00 and gave the stock an “outperform” rating in a research report on Thursday. Finally, Stifel Nicolaus boosted their price target on Q2 from $48.00 to $60.00 and gave the stock a “buy” rating in a research report on Wednesday, April 24th. Four research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $49.33.

Insider Activity

In other news, Director R. H. Seale sold 689 shares of the company’s stock in a transaction on Monday, March 11th. The stock was sold at an average price of $48.75, for a total value of $33,588.75. Following the completion of the sale, the director now owns 420,769 shares in the company, valued at $20,512,488.75. The sale was disclosed in a legal filing with the SEC, which is available at this link. In related news, insider Kimberly Anne Rutledge sold 741 shares of the stock in a transaction on Wednesday, March 13th. The stock was sold at an average price of $50.10, for a total value of $37,124.10. Following the completion of the transaction, the insider now owns 74,535 shares in the company, valued at approximately $3,734,203.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director R. H. Seale sold 689 shares of the stock in a transaction on Monday, March 11th. The shares were sold at an average price of $48.75, for a total value of $33,588.75. Following the completion of the transaction, the director now owns 420,769 shares of the company’s stock, valued at approximately $20,512,488.75. The disclosure for this sale can be found here. Insiders sold a total of 337,639 shares of company stock worth $14,994,784 over the last 90 days. 3.60% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Q2

Hedge funds and other institutional investors have recently modified their holdings of the stock. Natixis Advisors L.P. lifted its stake in Q2 by 1.6% in the 4th quarter. Natixis Advisors L.P. now owns 16,188 shares of the technology company’s stock worth $702,000 after acquiring an additional 259 shares in the last quarter. Contravisory Investment Management Inc. lifted its stake in Q2 by 4.4% in the 1st quarter. Contravisory Investment Management Inc. now owns 7,164 shares of the technology company’s stock worth $377,000 after acquiring an additional 304 shares in the last quarter. Arizona State Retirement System lifted its stake in Q2 by 2.2% in the 3rd quarter. Arizona State Retirement System now owns 16,570 shares of the technology company’s stock worth $535,000 after acquiring an additional 352 shares in the last quarter. Diversified Trust Co lifted its stake in Q2 by 2.7% in the 4th quarter. Diversified Trust Co now owns 13,670 shares of the technology company’s stock worth $593,000 after acquiring an additional 363 shares in the last quarter. Finally, MCF Advisors LLC lifted its stake in Q2 by 156.5% in the 4th quarter. MCF Advisors LLC now owns 613 shares of the technology company’s stock worth $27,000 after acquiring an additional 374 shares in the last quarter.

Q2 Stock Performance

The firm has a 50 day moving average of $50.26 and a 200-day moving average of $42.83. The stock has a market capitalization of $3.33 billion, a PE ratio of -48.91 and a beta of 1.47. The company has a debt-to-equity ratio of 1.09, a quick ratio of 2.23 and a current ratio of 2.23.

Q2 (NYSE:QTWO) last announced its quarterly earnings data on Wednesday, February 21st. The technology company reported ($0.06) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.10) by $0.04. The firm had revenue of $162.12 million during the quarter, compared to the consensus estimate of $161.31 million. Q2 had a negative return on equity of 6.75% and a negative net margin of 10.47%. Research analysts forecast that Q2 Holdings, Inc. will post -0.05 earnings per share for the current year.

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.