Q2 (NYSE:QTWO) Sets New 52-Week High Following Analyst Upgrade

Q2 Holdings, Inc. (NYSE:QTWO) shares reached a new 52-week high during trading on Thursday after DA Davidson raised their price target on the stock from $58.00 to $65.00. DA Davidson currently has a buy rating on the stock. Q2 traded as high as $56.71 and last traded at $55.13, with a volume of 126739 shares. The stock had previously closed at $51.73.

Several other research analysts have also commented on the company. Robert W. Baird lifted their price target on Q2 from $60.00 to $65.00 and gave the stock an “outperform” rating in a research report on Thursday. BTIG Research lifted 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. Piper Sandler increased their price target on shares of Q2 from $47.00 to $61.00 and gave the stock a “neutral” rating in a research note on Friday. Stifel Nicolaus lifted their price objective on shares of Q2 from $48.00 to $60.00 and gave the company a “buy” rating in a research note on Wednesday, April 24th. Finally, The Goldman Sachs Group upped their target price on shares of Q2 from $52.00 to $59.00 and gave the company a “buy” rating in a report on Thursday. Four equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $55.33.

Insider Buying and Selling

In other Q2 news, Director R. H. Seale sold 9,000 shares of Q2 stock in a transaction that occurred on Friday, April 19th. The stock was sold at an average price of $50.10, for a total value of $450,900.00. Following the sale, the director now owns 363,754 shares of the company’s stock, valued at approximately $18,224,075.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other Q2 news, Director R. H. Seale sold 9,000 shares of the stock in a transaction on Friday, April 19th. The stock was sold at an average price of $50.10, for a total value of $450,900.00. Following the completion of the transaction, the director now owns 363,754 shares in the company, valued at $18,224,075.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Matthew P. Flake sold 45,000 shares of the firm’s stock in a transaction on Monday, February 5th. The shares were sold at an average price of $41.09, for a total value of $1,849,050.00. Following the completion of the sale, the chief executive officer now directly owns 473,411 shares of the company’s stock, valued at approximately $19,452,457.99. The disclosure for this sale can be found here. Insiders sold 290,702 shares of company stock valued at $13,014,042 over the last ninety days. Corporate insiders own 3.60% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Nordea Investment Management AB acquired a new stake in Q2 in the fourth quarter valued at $1,938,000. Vanguard Group Inc. increased its holdings in Q2 by 7.5% during the 3rd quarter. Vanguard Group Inc. now owns 6,952,848 shares of the technology company’s stock valued at $224,368,000 after acquiring an additional 487,111 shares in the last quarter. Jennison Associates LLC raised 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 acquiring an additional 391,539 shares during the last quarter. Deutsche Bank AG raised its position in Q2 by 13.4% during the third quarter. Deutsche Bank AG now owns 29,559 shares of the technology company’s stock worth $954,000 after acquiring an additional 3,496 shares during the last quarter. Finally, Lisanti Capital Growth LLC purchased a new stake in shares of Q2 in the third quarter valued at about $5,534,000.

Q2 Stock Up 1.3 %

The company has a debt-to-equity ratio of 1.09, a current ratio of 2.23 and a quick ratio of 2.23. The firm’s 50-day moving average price is $50.79 and its 200 day moving average price is $43.14. The firm has a market capitalization of $3.57 billion, a price-to-earnings ratio of -44.71 and a beta of 1.47.

Q2 (NYSE:QTWO) last posted its earnings results on Wednesday, February 21st. The technology company reported ($0.06) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 5.95% and a negative net margin of 12.35%. Sell-side analysts expect that Q2 Holdings, Inc. will post -0.05 EPS for the current year.

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.