Q2 (NYSE:QTWO) Receives “Buy” Rating from Truist Financial

Truist Financial reiterated their buy rating on shares of Q2 (NYSE:QTWO) in a research report report published on Monday, Benzinga reports. The firm currently has a $68.00 target price on the technology company’s stock.

Several other brokerages have also weighed in on QTWO. Piper Sandler increased their target price on Q2 from $47.00 to $61.00 and gave the stock a neutral rating in a research report on Friday, May 3rd. Robert W. Baird increased their target price on Q2 from $60.00 to $65.00 and gave the stock an outperform rating in a research report on Thursday, May 2nd. Morgan Stanley reaffirmed an equal weight rating and issued a $50.00 target price (up from $40.00) on shares of Q2 in a research report on Thursday, May 2nd. Needham & Company LLC raised their price objective on Q2 from $58.00 to $65.00 and gave the company a buy rating in a research report on Thursday, May 2nd. Finally, The Goldman Sachs Group raised their price objective on Q2 from $52.00 to $59.00 and gave the company a buy rating in a research report on Thursday, May 2nd. Four investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. Based on data from MarketBeat, Q2 presently has an average rating of Moderate Buy and a consensus price target of $55.53.

Q2 Price Performance

QTWO stock opened at $60.19 on Monday. Q2 has a 52-week low of $28.91 and a 52-week high of $64.17. The stock’s fifty day simple moving average is $59.53 and its 200-day simple moving average is $50.81. The company has a quick ratio of 2.38, a current ratio of 2.38 and a debt-to-equity ratio of 1.06. The stock has a market capitalization of $3.62 billion, a price-to-earnings ratio of -44.58 and a beta of 1.55.

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

Insiders Place Their Bets

In other news, President Kirk L. Coleman sold 3,537 shares of the business’s stock in a transaction on Monday, June 10th. The shares were sold at an average price of $61.26, for a total transaction of $216,676.62. Following the transaction, the president now directly owns 352,177 shares in the company, valued at approximately $21,574,363.02. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. In related news, President Kirk L. Coleman sold 3,537 shares of Q2 stock in a transaction on Monday, June 10th. The shares were sold at an average price of $61.26, for a total value of $216,676.62. Following the completion of the sale, the president now owns 352,177 shares of the company’s stock, valued at approximately $21,574,363.02. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CRO Michael A. Volanoski sold 1,166 shares of the business’s stock in a transaction on Monday, June 10th. The stock was sold at an average price of $61.26, for a total transaction of $71,429.16. Following the transaction, the executive now directly owns 239,476 shares of the company’s stock, valued at approximately $14,670,299.76. The disclosure for this sale can be found here. In the last three months, insiders have sold 91,684 shares of company stock worth $5,548,275. Corporate insiders own 3.60% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the stock. Hood River Capital Management LLC bought a new stake in Q2 during the first quarter worth about $62,765,000. Price T Rowe Associates Inc. MD grew its stake in 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 during the last quarter. Vanguard Group Inc. grew its stake in 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 during the last quarter. Norges Bank bought a new stake in Q2 during the fourth quarter worth about $20,470,000. Finally, Victory Capital Management Inc. grew its stake in 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 during 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.