Q2 (NYSE:QTWO) Given “Buy” Rating at Truist Financial

Truist Financial reaffirmed their buy rating on shares of Q2 (NYSE:QTWO) in a research note issued to investors on Thursday,Benzinga reports. The brokerage currently has a $100.00 price target on the technology company’s stock, up from their prior price target of $78.00.

Several other equities analysts have also issued reports on the company. BTIG Research upped their target price on Q2 from $75.00 to $82.00 and gave the company a “buy” rating in a report on Monday, August 26th. Citigroup cut Q2 from a “buy” rating to a “neutral” rating and upped their price target for the company from $72.00 to $90.00 in a research report on Friday, October 18th. Piper Sandler lifted their price objective on Q2 from $74.00 to $93.00 and gave the stock a “neutral” rating in a report on Thursday. Stifel Nicolaus upped their price objective on shares of Q2 from $65.00 to $85.00 and gave the company a “buy” rating in a report on Thursday, August 1st. Finally, Needham & Company LLC lifted their target price on shares of Q2 from $90.00 to $120.00 and gave the stock a “buy” rating in a research note on Thursday. Five research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $90.79.

Q2 Stock Performance

Shares of QTWO stock opened at $102.74 on Thursday. The company has a current ratio of 2.44, a quick ratio of 2.44 and a debt-to-equity ratio of 1.02. The firm has a fifty day simple moving average of $80.37 and a two-hundred day simple moving average of $69.55. Q2 has a 12 month low of $32.97 and a 12 month high of $105.00. The firm has a market capitalization of $6.21 billion, a PE ratio of -107.02 and a beta of 1.58.

Q2 (NYSE:QTWO) last posted its earnings results on Wednesday, November 6th. The technology company reported ($0.03) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.04) by $0.01. The company had revenue of $175.02 million for the quarter, compared to analyst estimates of $173.31 million. Q2 had a negative net margin of 8.40% and a negative return on equity of 2.34%. Analysts forecast that Q2 will post -0.02 EPS for the current fiscal year.

Insider Buying and Selling

In other news, General Counsel Michael S. Kerr sold 517 shares of the stock in a transaction on Wednesday, September 11th. The shares were sold at an average price of $70.86, for a total value of $36,634.62. Following the transaction, the general counsel now owns 61,130 shares of the company’s stock, valued at $4,331,671.80. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In related news, Director James Offerdahl sold 1,013 shares of the business’s stock in a transaction that occurred on Wednesday, August 28th. The stock was sold at an average price of $73.97, for a total value of $74,931.61. Following the completion of the sale, the director now owns 18,789 shares in the company, valued at $1,389,822.33. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, General Counsel Michael S. Kerr sold 517 shares of the company’s stock in a transaction that occurred on Wednesday, September 11th. The stock was 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 directly owns 61,130 shares of the company’s stock, valued at approximately $4,331,671.80. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 41,963 shares of company stock worth $3,109,699. Insiders own 3.00% of the company’s stock.

Institutional Investors Weigh In On Q2

A number of hedge funds have recently made changes to their positions in the business. DekaBank Deutsche Girozentrale lifted its stake in Q2 by 67.4% in the first quarter. DekaBank Deutsche Girozentrale now owns 55,617 shares of the technology company’s stock worth $2,908,000 after purchasing an additional 22,400 shares during the last quarter. Perpetual Ltd bought a new stake in shares of Q2 in the 3rd quarter valued at about $80,788,000. Oppenheimer & Co. Inc. purchased a new stake in Q2 during the 1st quarter valued at about $1,055,000. Picton Mahoney Asset Management bought a new position in Q2 during the 1st quarter worth approximately $5,591,000. Finally, Price T Rowe Associates Inc. MD increased its stake in 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 purchasing an additional 683,957 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.