Q2 (NYSE:QTWO) Given “Buy” Rating at Truist Financial

Q2 (NYSE:QTWO)‘s stock had its “buy” rating restated by analysts at Truist Financial in a research note issued to investors on Thursday, Benzinga reports. They presently have a $100.00 price target on the technology company’s stock, up from their prior price target of $78.00. Truist Financial’s price objective would suggest a potential upside of 10.50% from the company’s previous close.

A number of other equities research analysts also recently issued reports on the company. BTIG Research boosted their price target on Q2 from $75.00 to $82.00 and gave the company a “buy” rating in a research report on Monday, August 26th. Stifel Nicolaus upped their target price on Q2 from $65.00 to $85.00 and gave the stock a “buy” rating in a research report on Thursday, August 1st. Compass Point assumed coverage on Q2 in a research report on Wednesday, September 4th. They issued a “buy” rating and a $91.00 target price for the company. Needham & Company LLC upped their target price on Q2 from $90.00 to $120.00 and gave the stock a “buy” rating in a research report on Thursday. Finally, Piper Sandler upped their target price on Q2 from $74.00 to $93.00 and gave the stock a “neutral” rating in a research report on Thursday. Five equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $79.64.

Q2 Price Performance

QTWO stock opened at $90.50 on Thursday. The stock has a 50-day moving average price of $79.23 and a two-hundred day moving average price of $68.85. Q2 has a 12-month low of $32.97 and a 12-month high of $92.10. The company has a current ratio of 2.44, a quick ratio of 2.44 and a debt-to-equity ratio of 1.02. The company has a market cap of $5.46 billion, a PE ratio of -78.02 and a beta of 1.58.

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

Insiders Place Their Bets

In other Q2 news, CRO Michael A. Volanoski sold 1,428 shares of the firm’s stock in a transaction on Thursday, September 12th. The shares were sold at an average price of $71.93, for a total transaction of $102,716.04. Following the completion of the transaction, the executive now directly owns 227,672 shares of the company’s stock, valued at $16,376,446.96. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 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 transaction of $2,107,376.25. Following the sale, the director now owns 397,702 shares in the company, valued at $29,927,075.50. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CRO Michael A. Volanoski sold 1,428 shares of Q2 stock in a transaction that occurred on Thursday, September 12th. The shares were sold at an average price of $71.93, for a total value of $102,716.04. Following the completion of the transaction, the executive now owns 227,672 shares of the company’s stock, valued at approximately $16,376,446.96. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 41,963 shares of company stock valued at $3,109,699 in the last ninety days. Corporate insiders own 3.00% of the company’s stock.

Hedge Funds Weigh In On Q2

Several institutional investors have recently made changes to their positions in the stock. Brown Capital Management LLC grew its holdings in shares of Q2 by 0.4% during the first quarter. Brown Capital Management LLC now owns 2,565,647 shares of the technology company’s stock valued at $134,850,000 after purchasing an additional 11,000 shares during the last quarter. Conestoga Capital Advisors LLC grew its holdings in shares of Q2 by 1.5% during the third quarter. Conestoga Capital Advisors LLC now owns 2,308,194 shares of the technology company’s stock valued at $184,125,000 after purchasing an additional 34,300 shares during the last quarter. Hood River Capital Management LLC grew its holdings in shares of Q2 by 5.7% during the second quarter. Hood River Capital Management LLC now owns 1,261,924 shares of the technology company’s stock valued at $76,132,000 after purchasing an additional 67,757 shares during the last quarter. American Century Companies Inc. grew its holdings in shares of Q2 by 5,990.6% during the second quarter. American Century Companies Inc. now owns 1,210,143 shares of the technology company’s stock valued at $73,008,000 after purchasing an additional 1,190,274 shares during the last quarter. Finally, Perpetual Ltd bought a new position in shares of Q2 during the third quarter valued at approximately $80,788,000.

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.