Q2’s (QTWO) Buy Rating Reaffirmed at Truist Financial

Truist Financial restated their buy rating on shares of Q2 (NYSE:QTWO) in a research report sent to investors on Monday morning, Benzinga reports. The firm currently has a $68.00 target price on the technology company’s stock.

Other equities analysts have also issued research reports about the stock. Morgan Stanley restated an equal weight rating and set a $50.00 price target (up previously from $40.00) on shares of Q2 in a research report on Thursday, May 2nd. BTIG Research upped their price objective on shares of Q2 from $48.00 to $60.00 and gave the company a buy rating in a report on Thursday, May 2nd. Needham & Company LLC upped their price objective on shares of Q2 from $58.00 to $65.00 and gave the company a buy rating in a report on Thursday, May 2nd. Stifel Nicolaus upped their price objective on shares of Q2 from $48.00 to $60.00 and gave the company a buy rating in a report on Wednesday, April 24th. Finally, Piper Sandler upped their price objective on shares of Q2 from $47.00 to $61.00 and gave the company a neutral rating in a report on Friday, May 3rd. Four analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. Based on data from MarketBeat, the company has an average rating of Moderate Buy and a consensus price target of $55.53.

Q2 Stock Performance

NYSE QTWO opened at $61.52 on Monday. The firm has a market cap of $3.70 billion, a price-to-earnings ratio of -45.57 and a beta of 1.55. The company has a fifty day moving average price of $60.01 and a 200-day moving average price of $51.09. The company has a debt-to-equity ratio of 1.06, a current ratio of 2.38 and a quick ratio of 2.38. Q2 has a 1 year low of $28.91 and a 1 year high of $64.17.

Q2 (NYSE:QTWO) last posted its quarterly earnings results on Wednesday, May 1st. The technology company reported ($0.04) earnings per share for the quarter, beating the consensus estimate of ($0.05) by $0.01. The company had revenue of $165.51 million during the quarter, compared to analyst estimates of $163.58 million. Q2 had a negative net margin of 12.35% and a negative return on equity of 5.88%. As a group, equities research analysts predict that Q2 will post -0.05 EPS for the current fiscal year.

Insider Activity

In related news, President Kirk L. Coleman sold 3,537 shares of the business’s stock in a transaction that occurred on Monday, June 10th. The stock was sold at an average price of $61.26, for a total value of $216,676.62. Following the transaction, the president now directly owns 352,177 shares of the company’s stock, valued at approximately $21,574,363.02. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In related news, President Kirk L. Coleman sold 3,537 shares of the business’s stock in a transaction that occurred on Monday, June 10th. The stock was sold at an average price of $61.26, for a total value of $216,676.62. Following the transaction, the president now directly owns 352,177 shares of the company’s stock, valued at approximately $21,574,363.02. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Jeffrey T. Diehl sold 34,434 shares of the company’s stock in a transaction that occurred on Thursday, June 6th. The stock was sold at an average price of $61.63, for a total value of $2,122,167.42. Following the sale, the director now directly owns 672,818 shares in the company, valued at $41,465,773.34. The disclosure for this sale can be found here. Insiders have sold a total of 91,684 shares of company stock valued at $5,548,275 in the last ninety days. Corporate insiders own 3.60% of the company’s stock.

Institutional Trading of Q2

Several hedge funds have recently modified their holdings of the company. MCF Advisors LLC increased its position in shares of Q2 by 156.5% during the 4th quarter. MCF Advisors LLC now owns 613 shares of the technology company’s stock valued at $27,000 after purchasing an additional 374 shares during the last quarter. International Assets Investment Management LLC increased its position in shares of Q2 by 2,582.4% during the 4th quarter. International Assets Investment Management LLC now owns 912 shares of the technology company’s stock valued at $40,000 after purchasing an additional 878 shares during the last quarter. Fidelis Capital Partners LLC bought a new position in shares of Q2 during the 1st quarter valued at approximately $50,000. Arcadia Investment Management Corp MI increased its position in shares of Q2 by 193.7% during the 4th quarter. Arcadia Investment Management Corp MI now owns 1,119 shares of the technology company’s stock valued at $49,000 after purchasing an additional 738 shares during the last quarter. Finally, RiverPark Advisors LLC increased its position in shares of Q2 by 261.0% during the 4th quarter. RiverPark Advisors LLC now owns 1,332 shares of the technology company’s stock valued at $58,000 after purchasing an additional 963 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.