Q2 (NYSE:QTWO) Price Target Raised to $65.00

Q2 (NYSE:QTWO) had its target price hoisted by DA Davidson from $58.00 to $65.00 in a research note issued to investors on Friday, Benzinga reports. DA Davidson currently has a buy rating on the technology company’s stock.

Other equities analysts have also issued research reports about the company. Robert W. Baird lifted their price target on Q2 from $60.00 to $65.00 and gave the company an outperform rating in a research note on Thursday. The Goldman Sachs Group upped their target price on Q2 from $52.00 to $59.00 and gave the stock a buy rating in a research note on Thursday. Canaccord Genuity Group increased their target price on Q2 from $40.00 to $55.00 and gave the company a buy rating in a research report on Friday, February 23rd. Needham & Company LLC boosted their price target on shares of Q2 from $58.00 to $65.00 and gave the stock a buy rating in a report on Thursday. Finally, Truist Financial reaffirmed a buy rating and set a $65.00 price objective (up from $60.00) on shares of Q2 in a report on Thursday. Four analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. According to data from MarketBeat, Q2 presently has a consensus rating of Moderate Buy and an average target price of $55.33.

Q2 Stock Performance

Q2 stock opened at $60.36 on Friday. Q2 has a 12 month low of $21.21 and a 12 month high of $60.98. The stock’s 50 day simple moving average is $50.79 and its two-hundred day simple moving average is $43.29. The company has a debt-to-equity ratio of 1.06, a quick ratio of 2.38 and a current ratio of 2.38.

Q2 (NYSE:QTWO) last announced its quarterly earnings results on Wednesday, February 21st. The technology company reported ($0.06) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.10) by $0.04. The firm had revenue of $162.12 million for the quarter, compared to the consensus estimate of $161.31 million. Q2 had a negative net margin of 12.35% and a negative return on equity of 5.88%. On average, equities analysts expect that Q2 will post -0.02 earnings per share for the current year.

Insider Buying and Selling at Q2

In other news, CEO Matthew P. Flake sold 45,000 shares of Q2 stock in a transaction on Wednesday, February 7th. The stock was sold at an average price of $41.76, for a total transaction of $1,879,200.00. Following the transaction, the chief executive officer now owns 473,411 shares in the company, valued at approximately $19,769,643.36. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other news, CEO Matthew P. Flake sold 45,000 shares of the stock in a transaction that occurred on Wednesday, February 7th. The shares were sold at an average price of $41.76, for a total value of $1,879,200.00. Following the completion of the sale, the chief executive officer now owns 473,411 shares of the company’s stock, valued at approximately $19,769,643.36. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO Matthew P. Flake sold 33,767 shares of Q2 stock in a transaction that occurred on Friday, February 9th. The shares were sold at an average price of $42.93, for a total transaction of $1,449,617.31. Following the sale, the chief executive officer now directly owns 473,411 shares in the company, valued at approximately $20,323,534.23. The disclosure for this sale can be found here. Insiders sold a total of 245,702 shares of company stock worth $11,164,992 in the last three months. 3.60% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Q2

A number of institutional investors have recently modified their holdings of the company. Vanguard Group Inc. lifted its stake in Q2 by 7.5% in the third quarter. Vanguard Group Inc. now owns 6,952,848 shares of the technology company’s stock worth $224,368,000 after acquiring an additional 487,111 shares during 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 purchasing an additional 398,871 shares during the last quarter. Conestoga Capital Advisors LLC grew its stake in shares of Q2 by 0.7% during the first quarter. Conestoga Capital Advisors LLC now owns 2,218,924 shares of the technology company’s stock worth $116,627,000 after purchasing an additional 15,510 shares in the last quarter. North Reef Capital Management LP increased its holdings in 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 buying an additional 362,227 shares during the last quarter. Finally, Jennison Associates LLC raised its stake in Q2 by 14.6% in 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 in the last quarter.

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.