Piper Sandler Raises Q2 (NYSE:QTWO) Price Target to $61.00

Q2 (NYSE:QTWO) had its price objective hoisted by Piper Sandler from $47.00 to $61.00 in a research report released on Friday, Benzinga reports. Piper Sandler currently has a neutral rating on the technology company’s stock.

QTWO has been the subject of a number of other reports. Needham & Company LLC raised their target price on shares of Q2 from $58.00 to $65.00 and gave the company a buy rating in a report on Thursday. Truist Financial restated a buy rating and set a $65.00 price objective (up from $60.00) on shares of Q2 in a report on Thursday. The Goldman Sachs Group lifted their price objective on shares of Q2 from $52.00 to $59.00 and gave the company a buy rating in a report on Thursday. BTIG Research increased their target price on shares of Q2 from $48.00 to $60.00 and gave the company a buy rating in a research report on Thursday. Finally, Canaccord Genuity Group upped their price objective on shares of Q2 from $40.00 to $55.00 and gave the company a buy rating in a report on Friday, February 23rd. Four equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of Moderate Buy and an average price target of $55.33.

Q2 Price Performance

NYSE QTWO traded up $1.16 during trading on Friday, reaching $61.52. The company’s stock had a trading volume of 1,054,439 shares, compared to its average volume of 644,530. The stock has a market capitalization of $3.70 billion, a PE ratio of -44.71 and a beta of 1.47. The company has a debt-to-equity ratio of 1.06, a current ratio of 2.38 and a quick ratio of 2.38. Q2 has a one year low of $21.94 and a one year high of $61.84. The firm has a fifty day moving average of $50.79 and a 200 day moving average of $43.29.

Q2 (NYSE:QTWO) last posted its earnings results on Wednesday, February 21st. The technology company reported ($0.06) EPS for the quarter, topping the consensus estimate 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 during the quarter, compared to analysts’ expectations of $161.31 million. Analysts expect that Q2 will post -0.02 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, Director R. H. Seale sold 689 shares of the stock in a transaction on 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 transaction, the director now owns 420,769 shares in the company, valued at approximately $20,512,488.75. The sale was disclosed in a filing with the SEC, which is available at this link. In related news, CEO Matthew P. Flake sold 45,000 shares of the firm’s stock in a transaction that occurred on Wednesday, February 7th. The shares were sold at an average price of $41.76, for a total value of $1,879,200.00. Following the completion of the sale, the chief executive officer now owns 473,411 shares of the company’s stock, valued at $19,769,643.36. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director R. H. Seale sold 689 shares of the 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 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. Insiders have sold 245,702 shares of company stock worth $11,164,992 in the last ninety days. Insiders own 3.60% of the company’s stock.

Hedge Funds Weigh In On Q2

Several hedge funds have recently modified their holdings of QTWO. Vanguard Group Inc. grew its position in Q2 by 7.5% during the 3rd quarter. Vanguard Group Inc. now owns 6,952,848 shares of the technology company’s stock worth $224,368,000 after acquiring an additional 487,111 shares during the last quarter. Wasatch Advisors LP lifted its position in shares of Q2 by 10.8% during 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. Conestoga Capital Advisors LLC raised its holdings in shares of Q2 by 0.7% in the 1st quarter. Conestoga Capital Advisors LLC now owns 2,218,924 shares of the technology company’s stock worth $116,627,000 after purchasing an additional 15,510 shares during the period. North Reef Capital Management LP increased its stake in shares of Q2 by 21.2% in the third quarter. North Reef Capital Management LP now owns 2,070,000 shares of the technology company’s stock worth $66,799,000 after purchasing an additional 362,227 shares in the last quarter. Finally, Jennison Associates LLC boosted its stake in Q2 by 14.6% in the 1st quarter. Jennison Associates LLC now owns 1,852,407 shares of the technology company’s stock worth $97,363,000 after purchasing an additional 235,582 shares during the period.

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.