Compass Point Issues Positive Forecast for Q2 (NYSE:QTWO) Stock Price

Q2 (NYSE:QTWO) had its price target hoisted by investment analysts at Compass Point from $91.00 to $107.00 in a research report issued to clients and investors on Thursday,Benzinga reports. The brokerage currently has a “buy” rating on the technology company’s stock. Compass Point’s target price points to a potential upside of 3.37% from the company’s previous close.

Several other analysts have also recently commented on the stock. Citigroup cut shares of Q2 from a “buy” rating to a “neutral” rating and raised their target price for the stock from $72.00 to $90.00 in a research note on Friday, October 18th. The Goldman Sachs Group lifted their price objective on Q2 from $86.00 to $103.00 and gave the company a “buy” rating in a report on Thursday. BTIG Research increased their target price on Q2 from $75.00 to $82.00 and gave the stock a “buy” rating in a research note on Monday, August 26th. Truist Financial reaffirmed a “buy” rating and set a $100.00 price objective (up previously from $78.00) on shares of Q2 in a report on Thursday. Finally, Stephens raised their price objective on shares of Q2 from $75.00 to $100.00 and gave the company an “overweight” rating in a research note on Thursday. Five research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $90.79.

Q2 Stock Up 14.4 %

Shares of Q2 stock traded up $13.01 during trading on Thursday, hitting $103.51. 1,284,865 shares of the stock were exchanged, compared to its average volume of 588,247. Q2 has a 12-month low of $32.97 and a 12-month high of $105.00. The stock has a market cap of $6.24 billion, a price-to-earnings ratio of -89.23 and a beta of 1.58. The company has a debt-to-equity ratio of 1.02, a current ratio of 2.44 and a quick ratio of 2.44. The firm’s 50-day moving average price is $79.23 and its 200 day moving average price is $68.85.

Q2 (NYSE:QTWO) last announced its earnings results on Wednesday, November 6th. The technology company reported ($0.03) earnings per share for the quarter, topping the consensus estimate of ($0.04) by $0.01. The business had revenue of $175.02 million during the quarter, compared to the consensus estimate of $173.31 million. Q2 had a negative net margin of 10.40% and a negative return on equity of 3.95%. As a group, analysts forecast that Q2 will post -0.02 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Q2 news, Director Jeffrey T. Diehl sold 28,005 shares of the firm’s stock in a transaction that occurred on Monday, August 26th. The shares were sold at an average price of $75.25, for a total value of $2,107,376.25. Following the sale, the director now owns 397,702 shares in the company, valued at approximately $29,927,075.50. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In related news, Director Jeffrey T. Diehl sold 28,005 shares of the stock in a transaction dated Monday, August 26th. The shares were sold at an average price of $75.25, for a total value of $2,107,376.25. Following the completion of the transaction, the director now owns 397,702 shares in the company, valued at $29,927,075.50. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director James Offerdahl sold 1,013 shares of the company’s stock in a transaction that occurred on Wednesday, August 28th. The stock was sold at an average price of $73.97, for a total transaction of $74,931.61. Following the completion of the sale, the director now directly owns 18,789 shares of the company’s stock, valued at approximately $1,389,822.33. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 41,963 shares of company stock valued at $3,109,699 in the last quarter. Insiders own 3.00% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of QTWO. CWM LLC grew its stake in shares of Q2 by 54.2% in the 2nd quarter. CWM LLC now owns 481 shares of the technology company’s stock worth $29,000 after purchasing an additional 169 shares during the last quarter. Natixis Advisors LLC grew its position in Q2 by 1.4% in the second quarter. Natixis Advisors LLC now owns 16,691 shares of the technology company’s stock worth $1,007,000 after buying an additional 237 shares during the last quarter. Panagora Asset Management Inc. increased its holdings in shares of Q2 by 3.1% in the second quarter. Panagora Asset Management Inc. now owns 13,659 shares of the technology company’s stock valued at $824,000 after buying an additional 407 shares in the last quarter. Arizona State Retirement System boosted its stake in shares of Q2 by 2.6% during the 2nd quarter. Arizona State Retirement System now owns 16,537 shares of the technology company’s stock worth $998,000 after acquiring an additional 423 shares in the last quarter. Finally, RiverPark Advisors LLC grew its holdings in shares of Q2 by 9.6% in the 2nd quarter. RiverPark Advisors LLC now owns 6,737 shares of the technology company’s stock worth $406,000 after acquiring an additional 591 shares during the last quarter.

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.