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

Truist Financial restated their buy rating on shares of Q2 (NYSE:QTWO) in a report issued on Thursday morning, Benzinga reports. Truist Financial currently has a $65.00 target price on the technology company’s stock, up from their previous target price of $60.00.

Several other equities research analysts have also recently weighed in on QTWO. DA Davidson raised their price objective on shares of Q2 from $48.00 to $58.00 and gave the company a buy rating in a research report on Tuesday, February 27th. Piper Sandler increased their price objective on shares of Q2 from $41.00 to $47.00 and gave the stock a neutral rating in a research note on Thursday, February 22nd. 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. Canaccord Genuity Group lifted their price objective on shares of Q2 from $40.00 to $55.00 and gave the stock a buy rating in a report on Friday, February 23rd. Finally, The Goldman Sachs Group upped their target price on Q2 from $39.00 to $51.00 and gave the stock a buy rating in a research note on Tuesday, January 23rd. Four research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of Moderate Buy and an average target price of $55.33.

Q2 Price Performance

Shares of Q2 stock traded up $0.25 during trading on Thursday, hitting $60.61. 358,076 shares of the company were exchanged, compared to its average volume of 636,071. Q2 has a fifty-two week low of $21.94 and a fifty-two week high of $61.84. The firm has a 50 day moving average price of $50.79 and a 200 day moving average price of $43.29. The stock has a market capitalization of $3.64 billion, a price-to-earnings ratio of -44.71 and a beta of 1.47. The company has a quick ratio of 2.38, a current ratio of 2.38 and a debt-to-equity ratio of 1.06.

Q2 (NYSE:QTWO) last issued 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. Q2 had a negative net margin of 12.35% and a negative return on equity of 5.88%. The business had revenue of $162.12 million for the quarter, compared to analyst estimates of $161.31 million. On average, equities analysts expect that Q2 will post -0.02 earnings per share for the current fiscal year.

Insider Buying and Selling at Q2

In related 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 completion of the sale, the president now owns 253,015 shares in the company, valued at approximately $11,641,220.15. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, CEO Matthew P. Flake sold 33,767 shares of the business’s stock in a transaction 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 transaction, the chief executive officer now directly owns 473,411 shares in the company, valued at $20,323,534.23. The sale was disclosed in a filing with the SEC, which is available through this link. Also, 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 completion of the transaction, the president now directly owns 253,015 shares in the company, valued at $11,641,220.15. The disclosure for this sale can be found here. In the last quarter, insiders have sold 245,702 shares of company stock worth $11,164,992. 3.60% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Q2

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in QTWO. Jennison Associates LLC lifted its position in Q2 by 147.4% during the 3rd quarter. Jennison Associates LLC now owns 1,225,286 shares of the technology company’s stock worth $39,540,000 after acquiring an additional 729,959 shares during the period. Vanguard Group Inc. increased its stake in Q2 by 7.5% during the 3rd quarter. Vanguard Group Inc. now owns 6,952,848 shares of the technology company’s stock worth $224,368,000 after buying an additional 487,111 shares in the last quarter. Norges Bank acquired a new stake in shares of Q2 in the fourth quarter valued at approximately $20,470,000. Victory Capital Management Inc. grew its position in Q2 by 855.4% in the fourth quarter. Victory Capital Management Inc. now owns 451,647 shares of the technology company’s stock worth $19,606,000 after acquiring an additional 404,372 shares during the period. Finally, Wasatch Advisors LP grew its position in Q2 by 10.8% in the first quarter. Wasatch Advisors LP now owns 4,078,877 shares of the technology company’s stock worth $214,386,000 after acquiring an additional 398,871 shares during the period.

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.