Q2’s (QTWO) Buy Rating Reiterated 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. They currently have a $110.00 price objective on the technology company’s stock, up from their prior price objective of $100.00.

A number of other research firms have also recently commented on QTWO. Stifel Nicolaus lifted their price objective on shares of Q2 from $100.00 to $115.00 and gave the stock a “buy” rating in a research report on Wednesday, December 18th. KeyCorp upgraded shares of Q2 from a “sector weight” rating to an “overweight” rating and set a $126.00 price target on the stock in a research note on Wednesday, December 18th. Citigroup downgraded shares of Q2 from a “buy” rating to a “neutral” rating and raised their price objective for the stock from $72.00 to $90.00 in a research report on Friday, October 18th. Morgan Stanley upped their target price on Q2 from $65.00 to $90.00 and gave the company an “equal weight” rating in a research report on Thursday, November 7th. Finally, The Goldman Sachs Group lifted their price target on Q2 from $86.00 to $103.00 and gave the stock a “buy” rating in a report on Thursday, November 7th. Seven investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $102.13.

Q2 Stock Performance

Shares of QTWO opened at $91.26 on Thursday. The company has a market cap of $5.51 billion, a PE ratio of -95.06 and a beta of 1.61. The firm has a 50-day moving average of $98.27 and a 200-day moving average of $88.43. Q2 has a one year low of $41.23 and a one year high of $112.82. The company has a debt-to-equity ratio of 0.99, a current ratio of 2.50 and a quick ratio of 2.50.

Q2 (NYSE:QTWO) last announced its quarterly earnings results on Wednesday, February 12th. The technology company reported $0.18 earnings per share for the quarter, missing analysts’ consensus estimates of $0.48 by ($0.30). Q2 had a negative return on equity of 2.30% and a negative net margin of 8.40%. As a group, equities analysts forecast that Q2 will post 0.08 earnings per share for the current year.

Insider Activity at Q2

In related news, Director James Offerdahl sold 548 shares of Q2 stock in a transaction that occurred on Friday, November 22nd. The shares were sold at an average price of $104.95, for a total transaction of $57,512.60. Following the sale, the director now directly owns 18,241 shares in the company, valued at $1,914,392.95. This trade represents a 2.92 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, President Kirk L. Coleman sold 10,428 shares of the company’s stock in a transaction that occurred on Thursday, December 12th. The shares were sold at an average price of $106.42, for a total transaction of $1,109,747.76. Following the completion of the transaction, the president now owns 337,643 shares of the company’s stock, valued at approximately $35,931,968.06. This trade represents a 3.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 28,836 shares of company stock valued at $3,061,035 in the last 90 days. 3.00% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Q2

A number of hedge funds have recently modified their holdings of QTWO. Versor Investments LP acquired a new position in Q2 during the 3rd quarter worth about $590,000. State Street Corp raised its position in shares of Q2 by 0.3% during the third quarter. State Street Corp now owns 1,668,767 shares of the technology company’s stock worth $133,118,000 after acquiring an additional 5,000 shares during the last quarter. BNP Paribas Financial Markets lifted its stake in shares of Q2 by 32.2% in the third quarter. BNP Paribas Financial Markets now owns 30,720 shares of the technology company’s stock worth $2,451,000 after acquiring an additional 7,475 shares during the period. Nordea Investment Management AB boosted its holdings in Q2 by 61.8% in the fourth quarter. Nordea Investment Management AB now owns 111,110 shares of the technology company’s stock valued at $11,208,000 after acquiring an additional 42,433 shares during the last quarter. Finally, Intech Investment Management LLC acquired a new stake in Q2 during the 3rd quarter valued at approximately $1,227,000.

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.