Q2 (NYSE:QTWO) Given “Equal Weight” Rating at Morgan Stanley

Morgan Stanley reaffirmed their equal weight rating on shares of Q2 (NYSE:QTWO) in a report released on Thursday morning, Benzinga reports. Morgan Stanley currently has a $50.00 target price on the technology company’s stock, up from their prior target price of $40.00.

Several other equities research analysts have also recently weighed in on QTWO. BTIG Research upped their price target on Q2 from $48.00 to $60.00 and gave the stock a buy rating in a research note on Thursday. Royal Bank of Canada increased their price target on shares of Q2 from $46.00 to $60.00 and gave the stock a sector perform rating in a research note on Thursday. Piper Sandler boosted their price objective on shares of Q2 from $41.00 to $47.00 and gave the stock a neutral rating in a research note on Thursday, February 22nd. Truist Financial reaffirmed a buy rating and set a $65.00 target price (up previously from $60.00) on shares of Q2 in a research note on Thursday. Finally, The Goldman Sachs Group boosted their price target on Q2 from $52.00 to $59.00 and gave the stock a buy rating in a research report on Thursday. Four investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of Moderate Buy and an average price target of $55.33.

Q2 Trading Up 1.3 %

Shares of Q2 stock traded up $0.78 during midday trading on Thursday, reaching $60.36. 1,212,357 shares of the company’s stock traded hands, compared to its average volume of 623,325. The company has a market cap of $3.63 billion, a PE ratio of -44.71 and a beta of 1.47. The stock has a 50 day moving average of $50.79 and a 200-day moving average of $43.14. Q2 has a 12 month low of $21.21 and a 12 month high of $60.98. The company has a debt-to-equity ratio of 1.06, a quick ratio of 2.23 and a current ratio of 2.38.

Q2 (NYSE:QTWO) last announced its earnings results on Wednesday, February 21st. The technology company reported ($0.06) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.10) by $0.04. Q2 had a negative net margin of 12.35% and a negative return on equity of 5.88%. The firm had revenue of $162.12 million for the quarter, compared to analyst estimates of $161.31 million. As a group, equities analysts expect that Q2 will post -0.05 EPS for the current fiscal year.

Insider Buying and Selling at Q2

In other Q2 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 transaction of $1,849,050.00. Following the completion of the sale, the chief executive officer now directly owns 473,411 shares in the company, valued at approximately $19,452,457.99. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. In other news, CEO Matthew P. Flake sold 45,000 shares of the company’s stock in a transaction on 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 sale, the chief executive officer now directly owns 473,411 shares in the company, valued at approximately $19,452,457.99. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, President Kirk L. Coleman sold 2,904 shares of the business’s stock in a transaction dated Monday, March 4th. The shares were sold at an average price of $46.01, for a total value of $133,613.04. Following the sale, the president now directly owns 253,015 shares of the company’s stock, valued at approximately $11,641,220.15. The disclosure for this sale can be found here. In the last ninety days, insiders sold 290,702 shares of company stock worth $13,014,042. Insiders own 3.60% of the company’s stock.

Institutional Investors Weigh In On Q2

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Jennison Associates LLC raised its holdings in shares of Q2 by 147.4% during the 3rd quarter. Jennison Associates LLC now owns 1,225,286 shares of the technology company’s stock worth $39,540,000 after acquiring an additional 729,959 shares in the last quarter. Vanguard Group Inc. increased its position in Q2 by 7.5% in the third quarter. Vanguard Group Inc. now owns 6,952,848 shares of the technology company’s stock worth $224,368,000 after purchasing an additional 487,111 shares during the last quarter. Norges Bank purchased a new stake in Q2 during the fourth quarter valued at $20,470,000. Victory Capital Management Inc. lifted its position 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 purchasing an additional 404,372 shares during the last quarter. Finally, Wasatch Advisors LP grew its stake in shares of Q2 by 10.8% in the 1st quarter. Wasatch Advisors LP now owns 4,078,877 shares of the technology company’s stock worth $214,386,000 after buying an additional 398,871 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.