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

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

Several other equities analysts have also commented on QTWO. BTIG Research raised their target price on shares of Q2 from $48.00 to $60.00 and gave the company a buy rating in a 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 report on Thursday. Canaccord Genuity Group boosted their price target on Q2 from $40.00 to $55.00 and gave the stock a buy rating in a report on Friday, February 23rd. Stifel Nicolaus raised their price objective on Q2 from $48.00 to $60.00 and gave the company a buy rating in a research note on Wednesday, April 24th. Finally, Truist Financial reissued a buy rating and set a $65.00 target price (up previously from $60.00) on shares of Q2 in a research note on Thursday. Four analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Q2 presently has a consensus rating of Moderate Buy and a consensus price target of $55.33.

Q2 Stock Performance

Shares of Q2 stock traded up $0.78 during trading on Friday, reaching $60.36. The company’s stock had a trading volume of 1,212,357 shares, compared to its average volume of 623,325. The company has a quick ratio of 2.23, a current ratio of 2.38 and a debt-to-equity ratio of 1.06. The business’s 50-day moving average price is $50.79 and its 200-day moving average price is $43.14. Q2 has a 52 week low of $21.21 and a 52 week high of $60.98. The firm has a market cap of $3.63 billion, a PE ratio of -44.71 and a beta of 1.47.

Q2 (NYSE:QTWO) last announced its earnings results on Wednesday, February 21st. The technology company reported ($0.06) EPS for the quarter, topping the consensus estimate of ($0.10) by $0.04. The company had revenue of $162.12 million for the quarter, compared to analysts’ expectations of $161.31 million. Q2 had a negative net margin of 12.35% and a negative return on equity of 5.88%. Equities analysts forecast that Q2 will post -0.05 earnings per share for the current year.

Insider Buying and Selling

In other news, President Kirk L. Coleman sold 2,904 shares of the business’s stock in a transaction dated Monday, March 4th. The stock was sold at an average price of $46.01, for a total value of $133,613.04. Following the transaction, the president now directly owns 253,015 shares of the company’s stock, valued at approximately $11,641,220.15. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, Director R. H. Seale sold 9,000 shares of the company’s stock in a transaction that occurred on Friday, April 19th. The stock was sold at an average price of $50.10, for a total transaction of $450,900.00. Following the transaction, the director now directly owns 363,754 shares of the company’s stock, valued at $18,224,075.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, President Kirk L. Coleman sold 2,904 shares of Q2 stock in a transaction on Monday, March 4th. The shares were sold at an average price of $46.01, for a total transaction of $133,613.04. Following the completion of the sale, the president now directly owns 253,015 shares of the company’s stock, valued at approximately $11,641,220.15. The disclosure for this sale can be found here. Insiders have sold a total of 290,702 shares of company stock valued at $13,014,042 over the last ninety days. 3.60% of the stock is owned by company insiders.

Hedge Funds Weigh In On Q2

Several large investors have recently added to or reduced their stakes in the business. Vanguard Group Inc. lifted its position in shares of Q2 by 7.5% during the third quarter. Vanguard Group Inc. now owns 6,952,848 shares of the technology company’s stock valued at $224,368,000 after purchasing an additional 487,111 shares in the last quarter. Wasatch Advisors LP lifted its position in shares of Q2 by 10.8% during 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 in the last quarter. Conestoga Capital Advisors LLC boosted its stake in shares of Q2 by 0.7% in the 1st quarter. Conestoga Capital Advisors LLC now owns 2,218,924 shares of the technology company’s stock worth $116,627,000 after buying an additional 15,510 shares during the last quarter. North Reef Capital Management LP grew its holdings in shares of Q2 by 21.2% in the third quarter. North Reef Capital Management LP now owns 2,070,000 shares of the technology company’s stock valued at $66,799,000 after acquiring an additional 362,227 shares in the last quarter. Finally, Jennison Associates LLC increased its position in shares of Q2 by 14.6% during the first quarter. Jennison Associates LLC now owns 1,852,407 shares of the technology company’s stock valued at $97,363,000 after acquiring an additional 235,582 shares during 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.