Q2 (NYSE:QTWO) Reaches New 12-Month High on Analyst Upgrade

Q2 Holdings, Inc. (NYSE:QTWO)’s stock price hit a new 52-week high on Wednesday after Stifel Nicolaus raised their price target on the stock from $48.00 to $60.00. Stifel Nicolaus currently has a buy rating on the stock. Q2 traded as high as $54.50 and last traded at $53.83, with a volume of 43765 shares trading hands. The stock had previously closed at $53.39.

QTWO has been the subject of a number of other reports. DA Davidson upped their price objective on shares of Q2 from $48.00 to $58.00 and gave the stock a “buy” rating in a research report on Tuesday, February 27th. Truist Financial reaffirmed a “buy” rating and set a $60.00 price target (up from $50.00) on shares of Q2 in a research report on Friday, April 19th. Needham & Company LLC boosted their price objective on Q2 from $50.00 to $58.00 and gave the stock a “buy” rating in a research report on Thursday, February 22nd. The Goldman Sachs Group raised their target price on Q2 from $39.00 to $51.00 and gave the company a “buy” rating in a research report on Tuesday, January 23rd. Finally, Robert W. Baird boosted their price target on shares of Q2 from $50.00 to $60.00 and gave the stock an “outperform” rating in a report on Monday, March 18th. Four equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $48.20.

Insiders Place Their Bets

In other Q2 news, Director R. H. Seale sold 9,000 shares of Q2 stock in a transaction dated Friday, April 19th. The stock was sold at an average price of $50.10, for a total transaction of $450,900.00. Following the completion of the transaction, the director now owns 363,754 shares of the company’s stock, valued at approximately $18,224,075.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other Q2 news, Director R. H. Seale sold 9,000 shares of the stock in a transaction that occurred on Friday, April 19th. The shares were sold at an average price of $50.10, for a total value of $450,900.00. Following the sale, the director now directly owns 363,754 shares in the company, valued at approximately $18,224,075.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO David J. Mehok sold 5,806 shares of the business’s stock in a transaction on Monday, March 4th. The shares were sold at an average price of $46.01, for a total transaction of $267,134.06. Following the transaction, the chief financial officer now owns 159,085 shares of the company’s stock, valued at $7,319,500.85. The disclosure for this sale can be found here. Insiders have sold a total of 337,639 shares of company stock worth $14,994,784 over the last 90 days. Corporate insiders own 3.60% of the company’s stock.

Hedge Funds Weigh In On Q2

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Nordea Investment Management AB purchased a new position in Q2 in the fourth quarter worth $1,938,000. Vanguard Group Inc. increased its position in shares of 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 purchasing an additional 487,111 shares during the last quarter. Deutsche Bank AG raised its holdings in shares of Q2 by 13.4% during the 3rd quarter. Deutsche Bank AG now owns 29,559 shares of the technology company’s stock valued at $954,000 after buying an additional 3,496 shares in the last quarter. Jennison Associates LLC lifted its position in Q2 by 147.4% in the 3rd quarter. Jennison Associates LLC now owns 1,225,286 shares of the technology company’s stock worth $39,540,000 after buying an additional 729,959 shares during the last quarter. Finally, Lisanti Capital Growth LLC bought a new position in Q2 during the third quarter valued at approximately $5,534,000.

Q2 Price Performance

The firm has a market capitalization of $3.17 billion, a P/E ratio of -47.25 and a beta of 1.49. The business’s 50-day simple moving average is $49.09 and its 200 day simple moving average is $42.06. The company has a quick ratio of 2.23, a current ratio of 2.23 and a debt-to-equity ratio of 1.09.

Q2 (NYSE:QTWO) last posted 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. The business had revenue of $162.12 million for the quarter, compared to analysts’ expectations of $161.31 million. Q2 had a negative return on equity of 6.75% and a negative net margin of 10.47%. Sell-side analysts forecast that Q2 Holdings, Inc. will post -0.05 earnings per share for the current year.

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.