Truist Financial Reiterates “Buy” Rating for Q2 (NYSE:QTWO)

Q2 (NYSE:QTWO)‘s stock had its “buy” rating reissued by equities researchers at Truist Financial in a report released on Monday, Benzinga reports. They currently have a $68.00 price target on the technology company’s stock. Truist Financial’s price target would suggest a potential upside of 12.34% from the company’s previous close.

A number of other analysts have also commented on the stock. Morgan Stanley reaffirmed an “equal weight” rating and set a $50.00 target price (up previously from $40.00) on shares of Q2 in a report on Thursday, May 2nd. The Goldman Sachs Group increased their target price on Q2 from $52.00 to $59.00 and gave the company a “buy” rating in a research note on Thursday, May 2nd. Needham & Company LLC boosted their target price on Q2 from $58.00 to $65.00 and gave the stock a “buy” rating in a research report on Thursday, May 2nd. Piper Sandler increased their price target on shares of Q2 from $47.00 to $61.00 and gave the company a “neutral” rating in a research report on Friday, May 3rd. Finally, Royal Bank of Canada upped their target price on shares of Q2 from $46.00 to $60.00 and gave the company a “sector perform” rating in a research note on Thursday, May 2nd. Four analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. Based on data from MarketBeat, Q2 currently has an average rating of “Moderate Buy” and a consensus target price of $55.53.

Q2 Trading Up 0.3 %

Shares of NYSE QTWO traded up $0.20 during midday trading on Monday, hitting $60.53. The stock had a trading volume of 181,011 shares, compared to its average volume of 612,141. The firm has a market cap of $3.64 billion, a P/E ratio of -44.79 and a beta of 1.55. Q2 has a fifty-two week low of $28.91 and a fifty-two week high of $64.17. The company has a debt-to-equity ratio of 1.06, a current ratio of 2.38 and a quick ratio of 2.38. The company’s 50-day simple moving average is $59.36 and its 200 day simple moving average is $50.68.

Q2 (NYSE:QTWO) last announced its quarterly earnings data on Wednesday, May 1st. The technology company reported ($0.04) earnings per share 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 firm had revenue of $165.51 million during the quarter, compared to analysts’ expectations of $163.58 million. Research analysts anticipate that Q2 will post -0.05 EPS for the current year.

Insider Buying and Selling

In other Q2 news, President Kirk L. Coleman sold 3,537 shares of the company’s stock in a transaction that occurred on Monday, June 10th. The stock was sold at an average price of $61.26, for a total transaction of $216,676.62. Following the completion of the transaction, 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 legal filing with the SEC, which is available at this hyperlink. In other news, President Kirk L. Coleman sold 3,537 shares of the stock in a transaction dated Monday, June 10th. The shares were sold at an average price of $61.26, for a total transaction of $216,676.62. Following the completion of 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 document filed with the SEC, which is available at this link. Also, Director R. H. Seale sold 9,000 shares of the firm’s stock in a transaction dated Friday, April 19th. The shares were sold at an average price of $50.10, for a total value of $450,900.00. Following the completion of the transaction, the director now owns 363,754 shares of the company’s stock, valued at approximately $18,224,075.40. The disclosure for this sale can be found here. Over the last three months, insiders sold 91,684 shares of company stock worth $5,548,275. 3.60% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Q2

Several hedge funds and other institutional investors have recently made changes to their positions in QTWO. Rhumbline Advisers increased its stake in shares of Q2 by 3.1% during the 3rd quarter. Rhumbline Advisers now owns 81,633 shares of the technology company’s stock worth $2,634,000 after purchasing an additional 2,440 shares during the last quarter. Hsbc Holdings PLC increased its holdings in shares of Q2 by 32.0% during the 3rd quarter. Hsbc Holdings PLC now owns 8,818 shares of the technology company’s stock worth $284,000 after acquiring an additional 2,139 shares during the last quarter. Natixis Advisors L.P. increased its holdings in shares of Q2 by 4.9% during the 3rd quarter. Natixis Advisors L.P. now owns 15,929 shares of the technology company’s stock worth $514,000 after acquiring an additional 748 shares during the last quarter. Gotham Asset Management LLC lifted its holdings in Q2 by 90.1% during the 3rd quarter. Gotham Asset Management LLC now owns 19,463 shares of the technology company’s stock valued at $628,000 after purchasing an additional 9,225 shares during the last quarter. Finally, Glenmede Trust Co. NA boosted its position in Q2 by 4.5% during the third quarter. Glenmede Trust Co. NA now owns 9,502 shares of the technology company’s stock worth $307,000 after purchasing an additional 405 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.