Q2 (NYSE:QTWO) Rating Reiterated by Morgan Stanley

Q2 (NYSE:QTWO)‘s stock had its “equal weight” rating reaffirmed by research analysts at Morgan Stanley in a report issued on Thursday, Benzinga reports. They presently have a $50.00 target price on the technology company’s stock, up from their prior target price of $40.00. Morgan Stanley’s price objective would indicate a potential downside of 17.16% from the company’s previous close.

A number of other equities analysts have also recently issued reports on the stock. Robert W. Baird raised their price objective on shares of Q2 from $60.00 to $65.00 and gave the company an “outperform” rating in a research note on Thursday. Piper Sandler lifted their price objective on Q2 from $41.00 to $47.00 and gave the stock a “neutral” rating in a research note on Thursday, February 22nd. Needham & Company LLC upped their price objective on Q2 from $58.00 to $65.00 and gave the company a “buy” rating in a report on Thursday. Canaccord Genuity Group raised their target price on Q2 from $40.00 to $55.00 and gave the stock a “buy” rating in a report on Friday, February 23rd. Finally, Royal Bank of Canada boosted their target price on Q2 from $46.00 to $60.00 and gave the stock a “sector perform” rating in a research report on Thursday. Four research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $55.33.

Q2 Price Performance

Shares of QTWO traded up $0.78 during mid-day trading on Thursday, hitting $60.36. 1,212,357 shares of the company traded hands, compared to its average volume of 623,325. 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 stock has a market capitalization of $3.63 billion, a price-to-earnings ratio of -44.71 and a beta of 1.47. The business has a 50-day moving average of $50.79 and a 200 day moving average of $43.14. Q2 has a one year low of $21.21 and a one year high of $60.98.

Q2 (NYSE:QTWO) last released its 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 company had revenue of $162.12 million during the quarter, compared to analysts’ expectations of $161.31 million. As a group, equities analysts expect that Q2 will post -0.05 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, Director R. H. Seale sold 689 shares of the company’s stock in a transaction dated Monday, March 11th. The stock was sold at an average price of $48.75, for a total transaction of $33,588.75. Following the completion of the transaction, the director now directly owns 420,769 shares of the company’s stock, valued at $20,512,488.75. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, Director R. H. Seale sold 9,000 shares of the stock in a transaction dated Friday, April 19th. The shares were sold at an average price of $50.10, for a total transaction of $450,900.00. Following the completion of the transaction, the director now directly owns 363,754 shares in the company, valued at approximately $18,224,075.40. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, Director R. H. Seale sold 689 shares of the firm’s stock in a transaction dated 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 have sold a total of 290,702 shares of company stock worth $13,014,042 over the last ninety days. Company insiders own 3.60% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the stock. Nordea Investment Management AB bought a new position in shares of Q2 in the 4th quarter valued at about $1,938,000. Vanguard Group Inc. grew its holdings in Q2 by 7.5% during the third 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 during the period. Jennison Associates LLC increased its position in Q2 by 32.0% during the fourth quarter. Jennison Associates LLC now owns 1,616,825 shares of the technology company’s stock worth $70,186,000 after buying an additional 391,539 shares during the last quarter. Deutsche Bank AG raised its stake in Q2 by 13.4% in the third quarter. Deutsche Bank AG now owns 29,559 shares of the technology company’s stock valued at $954,000 after buying an additional 3,496 shares during the period. Finally, Lisanti Capital Growth LLC acquired a new stake in shares of Q2 in the third quarter valued at approximately $5,534,000.

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.