Q2 (NYSE:QTWO) Sets New 1-Year High Following Analyst Upgrade

Q2 Holdings, Inc. (NYSE:QTWO)’s stock price reached a new 52-week high during trading on Thursday after Needham & Company LLC raised their price target on the stock from $65.00 to $90.00. Needham & Company LLC currently has a buy rating on the stock. Q2 traded as high as $72.89 and last traded at $71.39, with a volume of 57877 shares traded. The stock had previously closed at $67.47.

Other equities analysts also recently issued reports about the stock. Stifel Nicolaus lifted their price target on shares of Q2 from $65.00 to $85.00 and gave the company a “buy” rating in a report on Thursday. Piper Sandler boosted their target price on shares of Q2 from $47.00 to $61.00 and gave the stock a “neutral” rating in a research note on Friday, May 3rd. The Goldman Sachs Group boosted their target price on shares of Q2 from $59.00 to $86.00 and gave the stock a “buy” rating in a research note on Thursday. BTIG Research boosted their target price on shares of Q2 from $60.00 to $75.00 and gave the stock a “buy” rating in a research note on Thursday. Finally, Royal Bank of Canada boosted their target price on shares of Q2 from $60.00 to $76.00 and gave the stock a “sector perform” rating in a research note on Thursday. Five analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to data from MarketBeat.com, Q2 currently has an average rating of “Moderate Buy” and an average target price of $64.13.

Insider Activity at Q2

In related news, CRO Michael A. Volanoski sold 1,166 shares of the business’s stock in a transaction that occurred on Monday, June 10th. The shares were sold at an average price of $61.26, for a total transaction of $71,429.16. Following the completion of the transaction, the executive now owns 239,476 shares in the company, valued at $14,670,299.76. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In related news, CRO Michael A. Volanoski sold 1,166 shares of the business’s stock in a transaction that occurred on Monday, June 10th. The shares were sold at an average price of $61.26, for a total transaction of $71,429.16. Following the completion of the transaction, the executive now owns 239,476 shares in the company, valued at $14,670,299.76. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Kimberly Anne Rutledge sold 1,953 shares of the business’s stock in a transaction that occurred on Thursday, July 11th. The shares were sold at an average price of $65.00, for a total transaction of $126,945.00. Following the transaction, the insider now owns 115,436 shares of the company’s stock, valued at approximately $7,503,340. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 84,637 shares of company stock worth $5,224,320. 3.60% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the stock. CWM LLC boosted its holdings in shares of Q2 by 54.2% in the second quarter. CWM LLC now owns 481 shares of the technology company’s stock valued at $29,000 after buying an additional 169 shares during the period. Natixis Advisors LLC lifted its position in shares of 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 purchasing an additional 237 shares in the last quarter. Natixis Advisors L.P. lifted its position in shares of 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 purchasing an additional 259 shares in the last quarter. Contravisory Investment Management Inc. lifted its position in shares of 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 purchasing an additional 304 shares in the last quarter. Finally, MCF Advisors LLC lifted its position in shares of Q2 by 156.5% in 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.

Q2 Stock Performance

The stock’s 50-day moving average price is $62.67 and its 200 day moving average price is $54.56. The company has a quick ratio of 2.38, a current ratio of 2.44 and a debt-to-equity ratio of 1.02.

Q2 (NYSE:QTWO) last announced its quarterly earnings data on Wednesday, May 1st. The technology company reported ($0.04) EPS for the quarter, topping analysts’ consensus estimates of ($0.05) by $0.01. The business had revenue of $165.51 million for the quarter, compared to analyst estimates of $163.58 million. Q2 had a negative net margin of 10.40% and a negative return on equity of 3.95%. Analysts anticipate that Q2 Holdings, Inc. will post -0.05 earnings per share for the current fiscal year.

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.