Q2 (NYSE:QTWO) Price Target Raised to $60.00

Q2 (NYSE:QTWO) had its price objective increased by Stifel Nicolaus from $48.00 to $60.00 in a report released on Wednesday morning, Benzinga reports. Stifel Nicolaus currently has a buy rating on the technology company’s stock.

QTWO has been the subject of a number of other reports. The Goldman Sachs Group lifted their price target on shares of Q2 from $39.00 to $51.00 and gave the stock a buy rating in a research note on Tuesday, January 23rd. Canaccord Genuity Group lifted their price target on shares of Q2 from $40.00 to $55.00 and gave the stock a buy rating in a research note on Friday, February 23rd. Truist Financial reaffirmed a buy rating and set a $60.00 price target (up from $50.00) on shares of Q2 in a research note on Friday, April 19th. TheStreet raised shares of Q2 from a d+ rating to a c- rating in a research note on Friday, December 29th. Finally, Robert W. Baird lifted their price target on shares of Q2 from $50.00 to $60.00 and gave the stock an outperform rating in a research note on Monday, March 18th. Four analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of Moderate Buy and an average price target of $48.20.

Q2 Stock Performance

Shares of NYSE:QTWO opened at $53.28 on Wednesday. Q2 has a 52 week low of $21.21 and a 52 week high of $54.50. The stock has a market capitalization of $3.15 billion, a P/E ratio of -47.15 and a beta of 1.49. The firm has a fifty day simple moving average of $49.68 and a two-hundred day simple moving average of $42.43. 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 issued its quarterly earnings data on Wednesday, February 21st. The technology company reported ($0.06) EPS for the quarter, topping analysts’ consensus estimates of ($0.10) by $0.04. Q2 had a negative net margin of 10.47% and a negative return on equity of 6.75%. The business had revenue of $162.12 million during the quarter, compared to analysts’ expectations of $161.31 million. On average, analysts expect that Q2 will post -0.05 earnings per share for the current fiscal year.

Insider Activity

In other news, Director R. H. Seale sold 689 shares of the business’s stock in a transaction dated Monday, March 11th. The shares were sold at an average price of $48.75, for a total value of $33,588.75. Following the completion of the sale, the director now owns 420,769 shares in the company, valued at approximately $20,512,488.75. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In other news, CEO Matthew P. Flake sold 45,000 shares of Q2 stock in a transaction that occurred on Monday, February 5th. The shares were 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 of the company’s stock, valued at approximately $19,452,457.99. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director R. H. Seale sold 689 shares of Q2 stock in a transaction that occurred on Monday, March 11th. The stock was sold at an average price of $48.75, for a total transaction of $33,588.75. Following the completion of the transaction, the director now directly owns 420,769 shares in the company, valued at approximately $20,512,488.75. The disclosure for this sale can be found here. In the last quarter, insiders sold 337,639 shares of company stock worth $14,994,784. 3.60% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the company. MCF Advisors LLC grew its position in shares of Q2 by 156.5% in the 4th quarter. MCF Advisors LLC now owns 613 shares of the technology company’s stock worth $27,000 after buying an additional 374 shares during the last quarter. International Assets Investment Management LLC grew its position in shares of Q2 by 2,582.4% in the 4th quarter. International Assets Investment Management LLC now owns 912 shares of the technology company’s stock worth $40,000 after buying an additional 878 shares during the last quarter. Arcadia Investment Management Corp MI grew its position in shares of Q2 by 193.7% in the 4th quarter. Arcadia Investment Management Corp MI now owns 1,119 shares of the technology company’s stock worth $49,000 after buying an additional 738 shares during the last quarter. RiverPark Advisors LLC grew its position in shares of Q2 by 261.0% in the 4th quarter. RiverPark Advisors LLC now owns 1,332 shares of the technology company’s stock worth $58,000 after buying an additional 963 shares during the last quarter. Finally, Counterpoint Mutual Funds LLC purchased a new stake in Q2 during the 3rd quarter worth approximately $97,000.

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.