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

Truist Financial reaffirmed their buy rating on shares of Q2 (NYSE:QTWO) in a research note issued to investors on Monday morning, Benzinga reports. They currently have a $68.00 target price on the technology company’s stock.

Several other brokerages have also recently issued reports on QTWO. Royal Bank of Canada lifted their target price on Q2 from $46.00 to $60.00 and gave the stock a sector perform rating in a report on Thursday, May 2nd. Piper Sandler lifted their price target on Q2 from $47.00 to $61.00 and gave the stock a neutral rating in a research report on Friday, May 3rd. BTIG Research lifted their price target on Q2 from $48.00 to $60.00 and gave the stock a buy rating in a research report on Thursday, May 2nd. The Goldman Sachs Group lifted their price target on Q2 from $52.00 to $59.00 and gave the stock a buy rating in a research report on Thursday, May 2nd. Finally, Needham & Company LLC lifted their price target on Q2 from $58.00 to $65.00 and gave the stock a buy rating in a research report on Thursday, May 2nd. Four investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. According to MarketBeat, Q2 currently has a consensus rating of Moderate Buy and a consensus price target of $55.53.

Q2 Trading Up 1.1 %

Shares of QTWO stock opened at $61.52 on Monday. Q2 has a 12-month low of $28.91 and a 12-month high of $64.17. The company has a current ratio of 2.38, a quick ratio of 2.38 and a debt-to-equity ratio of 1.06. The stock’s 50-day moving average price is $59.84 and its 200-day moving average price is $51.02. The stock has a market capitalization of $3.70 billion, a price-to-earnings ratio of -45.57 and a beta of 1.55.

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

Insider Buying and Selling at Q2

In other news, Director R. H. Seale sold 9,000 shares of Q2 stock in a transaction that occurred on Friday, April 19th. The shares were sold at an average price of $50.10, for a total transaction of $450,900.00. Following the completion of the sale, the director now owns 363,754 shares of the company’s stock, valued at $18,224,075.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, Director Jeffrey T. Diehl sold 1,015 shares of Q2 stock in a transaction that occurred on Tuesday, June 4th. The shares were sold at an average price of $61.00, for a total transaction of $61,915.00. Following the completion of the sale, the director now owns 721,184 shares of the company’s stock, valued at $43,992,224. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director R. H. Seale sold 9,000 shares of Q2 stock in a transaction that occurred on Friday, April 19th. The shares were sold at an average price of $50.10, for a total transaction of $450,900.00. Following the sale, the director now directly owns 363,754 shares of the company’s stock, valued at approximately $18,224,075.40. The disclosure for this sale can be found here. Insiders sold 91,684 shares of company stock worth $5,548,275 over the last 90 days. Company insiders own 3.60% of the company’s stock.

Hedge Funds Weigh In On Q2

A number of large investors have recently bought and sold shares of the business. Natixis Advisors L.P. raised its stake in Q2 by 1.6% in the fourth quarter. Natixis Advisors L.P. now owns 16,188 shares of the technology company’s stock worth $702,000 after buying an additional 259 shares in the last quarter. Contravisory Investment Management Inc. raised its stake in Q2 by 4.4% in the first quarter. Contravisory Investment Management Inc. now owns 7,164 shares of the technology company’s stock worth $377,000 after buying an additional 304 shares in the last quarter. Diversified Trust Co increased its position in shares of Q2 by 2.7% during the fourth quarter. Diversified Trust Co now owns 13,670 shares of the technology company’s stock worth $593,000 after purchasing an additional 363 shares in the last quarter. MCF Advisors LLC increased its position in shares of Q2 by 156.5% during the fourth quarter. MCF Advisors LLC now owns 613 shares of the technology company’s stock worth $27,000 after purchasing an additional 374 shares in the last quarter. Finally, Glenmede Trust Co. NA increased its position in shares of Q2 by 4.5% during the third quarter. Glenmede Trust Co. NA now owns 9,502 shares of the technology company’s stock worth $307,000 after purchasing an additional 405 shares in 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.