Q2 (NYSE:QTWO) Reaches New 12-Month High Following Analyst Upgrade

Q2 Holdings, Inc. (NYSE:QTWO)’s share price reached a new 52-week high during mid-day trading on Monday after DA Davidson raised their price target on the stock from $76.00 to $86.00. DA Davidson currently has a neutral rating on the stock. Q2 traded as high as $105.00 and last traded at $103.58, with a volume of 58564 shares changing hands. The stock had previously closed at $102.74.

A number of other analysts also recently weighed in on the stock. Piper Sandler increased their target price on shares of Q2 from $74.00 to $93.00 and gave the company a “neutral” rating in a research report on Thursday, November 7th. Stifel Nicolaus increased their target price on shares of Q2 from $65.00 to $85.00 and gave the company a “buy” rating in a research report on Thursday, August 1st. Morgan Stanley increased their target price on shares of Q2 from $65.00 to $90.00 and gave the company an “equal weight” rating in a research report on Thursday, November 7th. Royal Bank of Canada increased their target price on shares of Q2 from $76.00 to $105.00 and gave the company a “sector perform” rating in a research report on Thursday, November 7th. Finally, The Goldman Sachs Group increased their target price on shares of Q2 from $86.00 to $103.00 and gave the company a “buy” rating in a research report on Thursday, November 7th. Five analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $91.50.

Insiders Place Their Bets

In related news, CRO Michael A. Volanoski sold 1,428 shares of the stock in a transaction on Thursday, September 12th. The stock was sold at an average price of $71.93, for a total value of $102,716.04. Following the transaction, the executive now directly owns 227,672 shares in the company, valued at $16,376,446.96. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other Q2 news, General Counsel Michael S. Kerr sold 517 shares of the stock in a transaction dated Wednesday, September 11th. The shares were sold at an average price of $70.86, for a total value of $36,634.62. Following the completion of the sale, the general counsel now owns 61,130 shares in the company, valued at approximately $4,331,671.80. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, 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 value of $102,716.04. Following the completion of the transaction, the executive now owns 227,672 shares in the company, valued at $16,376,446.96. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 41,963 shares of company stock worth $3,109,699. Corporate insiders own 3.00% of the company’s stock.

Hedge Funds Weigh In On Q2

A number of hedge funds and other institutional investors have recently modified their holdings of QTWO. Hood River Capital Management LLC purchased a new position in shares of Q2 in the 1st quarter worth approximately $62,765,000. American Century Companies Inc. boosted its stake in shares of Q2 by 5,990.6% in the 2nd quarter. American Century Companies Inc. now owns 1,210,143 shares of the technology company’s stock worth $73,008,000 after buying an additional 1,190,274 shares during the last quarter. Perpetual Ltd purchased a new position in shares of Q2 in the 3rd quarter worth approximately $80,788,000. Price T Rowe Associates Inc. MD boosted its stake in shares of Q2 by 1,910.0% in the 1st 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. Finally, Venturi Wealth Management LLC boosted its stake in shares of Q2 by 139.5% in the 3rd quarter. Venturi Wealth Management LLC now owns 608,721 shares of the technology company’s stock worth $48,558,000 after buying an additional 354,524 shares during the last quarter.

Q2 Price Performance

The company has a debt-to-equity ratio of 0.99, a quick ratio of 2.44 and a current ratio of 2.50. The business has a 50 day moving average price of $80.37 and a two-hundred day moving average price of $69.66. The stock has a market cap of $6.16 billion, a PE ratio of -106.42 and a beta of 1.58.

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.