Truist Financial Reiterates “Buy” Rating for Q2 (NYSE:QTWO)

Q2 (NYSE:QTWO)‘s stock had its “buy” rating reiterated by analysts at Truist Financial in a note issued to investors on Tuesday, Benzinga reports. They presently have a $68.00 target price on the technology company’s stock, up from their previous target price of $65.00. Truist Financial’s target price suggests a potential upside of 17.50% from the stock’s current price.

Other research analysts also recently issued research reports about the stock. Morgan Stanley reiterated an “equal weight” rating and set a $50.00 price target (up previously from $40.00) on shares of Q2 in a research report on Thursday, May 2nd. Piper Sandler upped their price target on shares of Q2 from $47.00 to $61.00 and gave the stock a “neutral” rating in a research report on Friday, May 3rd. DA Davidson upped their price target on shares of Q2 from $58.00 to $65.00 and gave the stock a “buy” rating in a research report on Friday, May 3rd. Robert W. Baird upped their price target on shares of Q2 from $60.00 to $65.00 and gave the stock an “outperform” rating in a research report on Thursday, May 2nd. Finally, Needham & Company LLC upped their target price on shares of Q2 from $58.00 to $65.00 and gave the company a “buy” rating in a research report on Thursday, May 2nd. Four research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $55.53.

Q2 Trading Down 0.2 %

Shares of Q2 stock opened at $57.87 on Tuesday. The firm has a market capitalization of $3.48 billion, a PE ratio of -42.87 and a beta of 1.53. The company has a debt-to-equity ratio of 1.06, a current ratio of 2.38 and a quick ratio of 2.38. The company’s fifty day moving average price is $58.27 and its two-hundred day moving average price is $49.58. Q2 has a 52-week low of $28.59 and a 52-week high of $64.17.

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

Insider Buying and Selling

In other news, Director R. H. Seale sold 598 shares of the firm’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 $36,633.48. Following the completion of the transaction, the director now directly owns 420,171 shares of the company’s stock, valued at approximately $25,739,675.46. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In other Q2 news, CRO Michael A. Volanoski sold 3,440 shares of the firm’s stock in a transaction on Wednesday, June 12th. The stock was sold at an average price of $61.07, for a total transaction of $210,080.80. Following the completion of the sale, the executive now owns 233,401 shares of the company’s stock, valued at approximately $14,253,799.07. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director R. H. Seale sold 598 shares of the firm’s stock in a transaction on Monday, June 10th. The shares were sold at an average price of $61.26, for a total value of $36,633.48. Following the sale, the director now directly owns 420,171 shares of the company’s stock, valued at approximately $25,739,675.46. The disclosure for this sale can be found here. In the last three months, insiders sold 80,684 shares of company stock valued at $4,888,275. 3.60% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Q2

Several hedge funds have recently added to or reduced their stakes in QTWO. Hood River Capital Management LLC acquired a new stake in Q2 during the 1st quarter valued at $62,765,000. Price T Rowe Associates Inc. MD lifted its holdings in shares of Q2 by 1,910.0% during the first quarter. Price T Rowe Associates Inc. MD now owns 719,767 shares of the technology company’s stock worth $37,832,000 after buying an additional 683,957 shares in the last quarter. Vanguard Group Inc. lifted its holdings in shares of Q2 by 7.5% during the third quarter. Vanguard Group Inc. now owns 6,952,848 shares of the technology company’s stock worth $224,368,000 after buying an additional 487,111 shares in the last quarter. Norges Bank acquired a new stake in shares of Q2 during the fourth quarter worth $20,470,000. Finally, Victory Capital Management Inc. lifted its holdings in shares of Q2 by 855.4% during the fourth quarter. Victory Capital Management Inc. now owns 451,647 shares of the technology company’s stock worth $19,606,000 after buying an additional 404,372 shares in the last quarter.

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.