Q2 (NYSE:QTWO) Reaches New 52-Week High at $76.54

Q2 Holdings, Inc. (NYSE:QTWO)’s stock price hit a new 52-week high during mid-day trading on Tuesday . The company traded as high as $76.54 and last traded at $76.31, with a volume of 141638 shares. The stock had previously closed at $74.61.

Analysts Set New Price Targets

A number of analysts recently issued reports on QTWO shares. Truist Financial reissued a “buy” rating and set a $78.00 target price (up previously from $68.00) on shares of Q2 in a research report on Thursday, August 1st. Royal Bank of Canada raised their target price on shares of Q2 from $60.00 to $76.00 and gave the company a “sector perform” rating in a research note on Thursday, August 1st. The Goldman Sachs Group upped their price target on shares of Q2 from $59.00 to $86.00 and gave the stock a “buy” rating in a research report on Thursday, August 1st. BTIG Research raised their price objective on Q2 from $75.00 to $82.00 and gave the company a “buy” rating in a research report on Monday, August 26th. Finally, Needham & Company LLC boosted their price objective on Q2 from $65.00 to $90.00 and gave the stock a “buy” rating in a research note on Thursday, August 1st. Five analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $72.38.

Q2 Stock Performance

The company has a market capitalization of $4.79 billion, a price-to-earnings ratio of -56.33 and a beta of 1.58. The stock has a 50 day simple moving average of $70.56 and a 200 day simple moving average of $61.21. The company has a quick ratio of 2.44, a current ratio of 2.44 and a debt-to-equity ratio of 1.02.

Q2 (NYSE:QTWO) last released its quarterly earnings data on Wednesday, July 31st. The technology company reported ($0.06) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.03) by ($0.03). Q2 had a negative net margin of 10.40% and a negative return on equity of 3.95%. The company had revenue of $172.89 million for the quarter, compared to analyst estimates of $170.67 million. As a group, analysts anticipate that Q2 Holdings, Inc. will post -0.01 earnings per share for the current fiscal year.

Insider Transactions at Q2

In other news, CRO Michael A. Volanoski sold 1,428 shares of the business’s stock in a transaction that occurred on Thursday, September 12th. The stock was sold at an average price of $71.93, for a total transaction of $102,716.04. Following the completion of the transaction, the executive now directly owns 227,672 shares in the company, valued at $16,376,446.96. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In related news, CRO Michael A. Volanoski sold 1,428 shares of the company’s stock in a transaction dated Thursday, September 12th. The shares were sold at an average price of $71.93, for a total value of $102,716.04. Following the completion of the sale, the executive now owns 227,672 shares of the company’s stock, valued at $16,376,446.96. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Jonathan Price sold 11,000 shares of the stock in a transaction dated Thursday, June 27th. The shares were sold at an average price of $60.00, for a total transaction of $660,000.00. Following the completion of the transaction, the executive vice president now owns 226,079 shares of the company’s stock, valued at approximately $13,564,740. The disclosure for this sale can be found here. Over the last quarter, insiders sold 54,916 shares of company stock worth $3,896,644. Insiders own 3.60% of the company’s stock.

Institutional Investors Weigh In On Q2

Several hedge funds and other institutional investors have recently added to or reduced their stakes in QTWO. CWM LLC increased its position in shares of Q2 by 54.2% during the 2nd quarter. CWM LLC now owns 481 shares of the technology company’s stock valued at $29,000 after purchasing an additional 169 shares during the period. Fidelis Capital Partners LLC bought a new stake in Q2 in the first quarter worth about $50,000. Quest Partners LLC acquired a new stake in Q2 in the 2nd quarter valued at about $153,000. SG Americas Securities LLC bought a new position in shares of Q2 during the 1st quarter valued at about $173,000. Finally, nVerses Capital LLC acquired a new position in shares of Q2 in the 2nd quarter worth approximately $181,000.

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.