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

Q2 (NYSE:QTWO)‘s stock had its “buy” rating reissued by Truist Financial in a report issued on Thursday, Benzinga reports. They presently have a $65.00 price objective on the technology company’s stock, up from their prior price objective of $60.00. Truist Financial’s target price points to a potential upside of 16.97% from the stock’s current price.

Several other research analysts have also recently issued reports on the stock. Piper Sandler raised their target price on shares of Q2 from $41.00 to $47.00 and gave the stock a “neutral” rating in a report on Thursday, February 22nd. Needham & Company LLC raised their target price on shares of Q2 from $58.00 to $65.00 and gave the stock a “buy” rating in a report on Thursday. Canaccord Genuity Group raised their target price on shares of 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 target price on shares of Q2 from $48.00 to $60.00 and gave the stock a “buy” rating in a report on Wednesday, April 24th. Finally, DA Davidson raised their price target on Q2 from $48.00 to $58.00 and gave the stock a “buy” rating in a research note on Tuesday, February 27th. Four investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $49.33.

Q2 Price Performance

Shares of QTWO stock traded up $3.84 during trading on Thursday, hitting $55.57. The company had a trading volume of 207,163 shares, compared to its average volume of 608,952. The company has a quick ratio of 2.23, a current ratio of 2.23 and a debt-to-equity ratio of 1.09. The stock’s 50-day moving average is $50.26 and its two-hundred day moving average is $42.83. The stock has a market capitalization of $3.28 billion, a price-to-earnings ratio of -48.91 and a beta of 1.47. Q2 has a 52 week low of $21.21 and a 52 week high of $56.71.

Q2 (NYSE:QTWO) last issued its quarterly earnings results on Wednesday, February 21st. The technology company reported ($0.06) EPS for the quarter, beating analysts’ consensus estimates of ($0.10) by $0.04. Q2 had a negative net margin of 10.47% and a negative return on equity of 6.75%. The business had revenue of $162.12 million for the quarter, compared to analysts’ expectations of $161.31 million. As a group, analysts predict that Q2 will post -0.05 EPS for the current fiscal year.

Insider Buying and Selling at Q2

In related news, CRO Michael A. Volanoski sold 2,369 shares of the firm’s stock in a transaction that occurred on Wednesday, March 13th. The shares were sold at an average price of $50.10, for a total value of $118,686.90. Following the sale, the executive now owns 174,024 shares in the company, valued at $8,718,602.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other Q2 news, CEO Matthew P. Flake sold 46,937 shares of the company’s stock in a transaction that occurred on Friday, February 2nd. The shares were sold at an average price of $42.20, for a total transaction of $1,980,741.40. Following the completion of the sale, the chief executive officer now directly owns 473,411 shares of the company’s stock, valued at $19,977,944.20. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CRO Michael A. Volanoski sold 2,369 shares of Q2 stock in a transaction on Wednesday, March 13th. The stock was sold at an average price of $50.10, for a total transaction of $118,686.90. Following the transaction, the executive now owns 174,024 shares in the company, valued at approximately $8,718,602.40. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 337,639 shares of company stock worth $14,994,784. Company insiders own 3.60% of the company’s stock.

Hedge Funds Weigh In On Q2

A number of institutional investors have recently bought and sold shares of the stock. MCF Advisors LLC raised its stake in Q2 by 156.5% during 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 during the period. International Assets Investment Management LLC increased its stake in shares of Q2 by 2,582.4% in the fourth quarter. International Assets Investment Management LLC now owns 912 shares of the technology company’s stock worth $40,000 after purchasing an additional 878 shares in the last quarter. Arcadia Investment Management Corp MI raised its position in shares of Q2 by 193.7% during the 4th quarter. Arcadia Investment Management Corp MI now owns 1,119 shares of the technology company’s stock valued at $49,000 after purchasing an additional 738 shares during the period. Fidelis Capital Partners LLC purchased a new position in shares of Q2 during the 1st quarter valued at $50,000. Finally, RiverPark Advisors LLC boosted its holdings in Q2 by 261.0% in the 4th quarter. RiverPark Advisors LLC now owns 1,332 shares of the technology company’s stock worth $58,000 after buying an additional 963 shares during the period.

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.