Q2 (NYSE:QTWO) Reaches New 1-Year High on Analyst Upgrade

Q2 Holdings, Inc. (NYSE:QTWO)’s stock price hit a new 52-week high during trading 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 changing hands. The stock had previously closed at $53.39.

A number of other equities research analysts also recently commented on the company. Canaccord Genuity Group lifted their price objective on Q2 from $40.00 to $55.00 and gave the company a “buy” rating in a research report on Friday, February 23rd. The Goldman Sachs Group boosted their price target on Q2 from $39.00 to $51.00 and gave the company a “buy” rating in a research report on Tuesday, January 23rd. Truist Financial reissued a “buy” rating and set a $60.00 price target (up previously from $50.00) on shares of Q2 in a research report on Friday, April 19th. Needham & Company LLC boosted their price target on Q2 from $50.00 to $58.00 and gave the company a “buy” rating in a research report on Thursday, February 22nd. Finally, DA Davidson boosted their price target on Q2 from $48.00 to $58.00 and gave the company a “buy” rating in a research report on Tuesday, February 27th. 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 stock currently has an average rating of “Moderate Buy” and a consensus target price of $48.20.

Insider Transactions at Q2

In related news, CEO Matthew P. Flake sold 45,000 shares of the business’s stock in a transaction dated Monday, February 5th. The stock was sold at an average price of $41.09, for a total value of $1,849,050.00. Following the transaction, the chief executive officer now owns 473,411 shares in the company, valued at $19,452,457.99. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. In related news, Director R. H. Seale sold 689 shares of the business’s stock in a transaction dated Monday, March 11th. The stock was sold at an average price of $48.75, for a total value of $33,588.75. Following the transaction, the director now owns 420,769 shares in the company, valued at $20,512,488.75. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO Matthew P. Flake sold 45,000 shares of the business’s stock in a transaction dated Monday, February 5th. The stock was sold at an average price of $41.09, for a total value of $1,849,050.00. Following the completion of the transaction, the chief executive officer now owns 473,411 shares in the company, valued at approximately $19,452,457.99. The disclosure for this sale can be found here. Insiders sold 337,639 shares of company stock valued at $14,994,784 over the last quarter. Company insiders own 3.60% of the company’s stock.

Institutional Trading of Q2

Several institutional investors and hedge funds have recently bought and sold shares of QTWO. Jennison Associates LLC raised its stake in Q2 by 147.4% during the third quarter. Jennison Associates LLC now owns 1,225,286 shares of the technology company’s stock valued at $39,540,000 after buying an additional 729,959 shares in the last quarter. Vanguard Group Inc. raised its stake in Q2 by 7.5% during the third quarter. Vanguard Group Inc. now owns 6,952,848 shares of the technology company’s stock valued at $224,368,000 after buying an additional 487,111 shares in the last quarter. Norges Bank acquired a new stake in Q2 during the fourth quarter valued at approximately $20,470,000. Victory Capital Management Inc. raised its stake in Q2 by 855.4% during the fourth quarter. Victory Capital Management Inc. now owns 451,647 shares of the technology company’s stock valued at $19,606,000 after buying an additional 404,372 shares in the last quarter. Finally, Wasatch Advisors LP raised its stake in Q2 by 10.8% during the first quarter. Wasatch Advisors LP now owns 4,078,877 shares of the technology company’s stock valued at $214,386,000 after buying an additional 398,871 shares in the last quarter.

Q2 Price Performance

The company has a 50 day simple moving average of $49.29 and a 200-day simple moving average of $42.15. The stock has a market cap of $3.18 billion, a price-to-earnings ratio of -47.57 and a beta of 1.49. 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 announced its quarterly earnings data on Wednesday, February 21st. The technology company reported ($0.06) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.10) by $0.04. The firm 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%. As a group, research analysts anticipate that Q2 Holdings, Inc. will post -0.05 EPS for the current fiscal 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.