Truist Financial Reiterates “Buy” Rating for Q2 (NYSE:QTWO)

Q2 (NYSE:QTWO)‘s stock had its “buy” rating restated by research analysts at Truist Financial in a report issued on Friday, Benzinga reports. They presently have a $60.00 price target on the technology company’s stock, up from their prior price target of $50.00. Truist Financial’s price objective suggests a potential upside of 18.04% from the stock’s current price.

A number of other equities research analysts have also recently issued reports on QTWO. Needham & Company LLC boosted their price objective on Q2 from $50.00 to $58.00 and gave the stock a “buy” rating in a report on Thursday, February 22nd. Robert W. Baird boosted their price target on Q2 from $50.00 to $60.00 and gave the company an “outperform” rating in a research note on Monday, March 18th. DA Davidson boosted their price target on Q2 from $48.00 to $58.00 and gave the company a “buy” rating in a research note on Tuesday, February 27th. TheStreet upgraded shares of Q2 from a “d+” rating to a “c-” rating in a research report on Friday, December 29th. Finally, Canaccord Genuity Group upped their price target on shares of Q2 from $40.00 to $55.00 and gave the stock a “buy” rating in a report on Friday, February 23rd. Four equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $45.33.

Q2 Stock Up 2.0 %

Shares of NYSE QTWO traded up $1.02 during mid-day trading on Friday, hitting $50.83. The company had a trading volume of 26,186 shares, compared to its average volume of 615,453. The company has a market capitalization of $3.00 billion, a PE ratio of -44.83 and a beta of 1.49. The firm has a 50-day simple moving average of $48.56 and a two-hundred day simple moving average of $41.50. The company has a current ratio of 2.23, a quick ratio of 2.23 and a debt-to-equity ratio of 1.09. Q2 has a one year low of $21.21 and a one year high of $53.96.

Q2 (NYSE:QTWO) last announced its quarterly earnings data on Wednesday, February 21st. The technology company reported ($0.06) earnings per share for the quarter, beating the consensus estimate of ($0.10) by $0.04. Q2 had a negative return on equity of 6.75% and a negative net margin of 10.47%. The company had revenue of $162.12 million during the quarter, compared to analysts’ expectations of $161.31 million. On average, equities analysts expect that Q2 will post -0.05 EPS for the current year.

Insider Transactions at Q2

In other news, President Kirk L. Coleman sold 2,904 shares of the stock in a transaction dated Monday, March 4th. The shares were sold at an average price of $46.01, for a total transaction of $133,613.04. Following the transaction, the president now owns 253,015 shares of the company’s stock, valued at approximately $11,641,220.15. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, President Kirk L. Coleman sold 2,904 shares of the firm’s stock in a transaction dated Monday, March 4th. The shares were sold at an average price of $46.01, for a total value of $133,613.04. Following the transaction, the president now owns 253,015 shares of the company’s stock, valued at approximately $11,641,220.15. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. 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 transaction 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. Insiders have sold 336,313 shares of company stock valued at $14,889,214 in the last 90 days. 3.60% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Q2

Several institutional investors and hedge funds have recently added to or reduced their stakes in QTWO. Jennison Associates LLC increased its stake in Q2 by 147.4% in the 3rd quarter. Jennison Associates LLC now owns 1,225,286 shares of the technology company’s stock valued at $39,540,000 after buying an additional 729,959 shares during the last quarter. Norges Bank purchased a new stake in Q2 in the 4th quarter valued at about $16,200,000. Vanguard Group Inc. increased its stake in Q2 by 7.5% in the 3rd quarter. Vanguard Group Inc. now owns 6,952,848 shares of the technology company’s stock valued at $224,368,000 after buying an additional 487,111 shares during the last quarter. Nuveen Asset Management LLC increased its stake in shares of Q2 by 329.8% during the 2nd quarter. Nuveen Asset Management LLC now owns 630,159 shares of the technology company’s stock worth $19,472,000 after purchasing an additional 483,529 shares during the last quarter. Finally, Millennium Management LLC increased its stake in shares of Q2 by 948.9% during the 4th quarter. Millennium Management LLC now owns 525,476 shares of the technology company’s stock worth $14,120,000 after purchasing an additional 475,377 shares during 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.