Q2 (NYSE:QTWO) Given New $59.00 Price Target at The Goldman Sachs Group

Q2 (NYSE:QTWO) had its price objective hoisted by The Goldman Sachs Group from $52.00 to $59.00 in a research report sent to investors on Thursday, Benzinga reports. The firm currently has a buy rating on the technology company’s stock.

Several other research firms have also issued reports on QTWO. Royal Bank of Canada upped their price objective on Q2 from $46.00 to $60.00 and gave the company a sector perform rating in a research note on Thursday. DA Davidson lifted their price target on Q2 from $48.00 to $58.00 and gave the stock a buy rating in a report on Tuesday, February 27th. Truist Financial reissued a buy rating and set a $65.00 price target (up from $60.00) on shares of Q2 in a report on Thursday. Robert W. Baird lifted their price target on Q2 from $60.00 to $65.00 and gave the stock an outperform rating in a report on Thursday. Finally, Needham & Company LLC raised their price objective on Q2 from $58.00 to $65.00 and gave the stock a buy rating in a research note on Thursday. Four research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of Moderate Buy and a consensus price target of $55.33.

Q2 Stock Up 0.4 %

QTWO traded up $0.25 on Thursday, hitting $60.61. 358,076 shares of the company were exchanged, compared to its average volume of 636,071. Q2 has a 12 month low of $21.94 and a 12 month high of $61.84. The company has a market cap of $3.64 billion, a PE ratio of -44.71 and a beta of 1.47. The company has a debt-to-equity ratio of 1.06, a quick ratio of 2.38 and a current ratio of 2.38. The stock’s fifty day moving average is $50.79 and its 200-day moving average is $43.29.

Q2 (NYSE:QTWO) last released its quarterly earnings data on Wednesday, February 21st. The technology company reported ($0.06) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.10) by $0.04. The firm had revenue of $162.12 million for the quarter, compared to analyst estimates of $161.31 million. Q2 had a negative return on equity of 5.88% and a negative net margin of 12.35%. Equities research analysts predict that Q2 will post -0.02 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, Director R. H. Seale sold 689 shares of the company’s stock in a transaction that occurred 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 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 filing with the SEC, which is accessible through this hyperlink. In related news, CRO Michael A. Volanoski sold 2,369 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 $118,686.90. Following the transaction, the executive now owns 174,024 shares of the company’s stock, valued at $8,718,602.40. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 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 directly owns 420,769 shares in the company, valued at approximately $20,512,488.75. The disclosure for this sale can be found here. In the last ninety days, insiders sold 245,702 shares of company stock valued at $11,164,992. Corporate insiders own 3.60% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in the company. RiverPark Advisors LLC increased its stake in Q2 by 361.4% in the first quarter. RiverPark Advisors LLC now owns 6,146 shares of the technology company’s stock valued at $323,000 after acquiring an additional 4,814 shares during the last quarter. Chase Investment Counsel Corp bought a new position in shares of Q2 during the first quarter valued at about $2,363,000. Jennison Associates LLC grew its stake 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 buying an additional 235,582 shares during the last quarter. Nordea Investment Management AB grew its stake in shares of Q2 by 45.2% during the first quarter. Nordea Investment Management AB now owns 64,826 shares of the technology company’s stock valued at $3,456,000 after buying an additional 20,195 shares during the last quarter. Finally, Fidelis Capital Partners LLC bought a new position in shares of Q2 during the first quarter valued at about $50,000.

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.