Q2 (NYSE:QTWO) Price Target Raised to $75.00

Q2 (NYSE:QTWO) had its price target upped by BTIG Research from $60.00 to $75.00 in a research report report published on Thursday, Benzinga reports. They currently have a buy rating on the technology company’s stock.

QTWO has been the subject of a number of other research reports. Stifel Nicolaus lifted their target price on shares of Q2 from $65.00 to $85.00 and gave the stock a buy rating in a report on Thursday. DA Davidson lowered shares of Q2 from a buy rating to a neutral rating and lifted their target price for the stock from $65.00 to $76.00 in a report on Wednesday, July 24th. Robert W. Baird lifted their target price on shares of Q2 from $60.00 to $65.00 and gave the stock an outperform rating in a report on Thursday, May 2nd. The Goldman Sachs Group boosted their price target on shares of Q2 from $52.00 to $59.00 and gave the company a buy rating in a report on Thursday, May 2nd. Finally, Truist Financial reissued a buy rating and issued a $78.00 price target (up previously from $68.00) on shares of Q2 in a report on Thursday. Five investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. According to MarketBeat, the company presently has an average rating of Moderate Buy and an average price target of $64.13.

Q2 Trading Down 3.4 %

QTWO stock traded down $2.36 during trading on Thursday, hitting $67.69. The company had a trading volume of 276,503 shares, compared to its average volume of 612,604. The company has a quick ratio of 2.38, a current ratio of 2.38 and a debt-to-equity ratio of 1.06. The firm has a 50-day moving average price of $62.58 and a 200-day moving average price of $54.40. Q2 has a 12 month low of $28.91 and a 12 month high of $75.94. The stock has a market cap of $4.07 billion, a price-to-earnings ratio of -51.83 and a beta of 1.54.

Q2 (NYSE:QTWO) last posted 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 net margin of 10.40% and a negative return on equity of 4.02%. The firm had revenue of $165.51 million during the quarter, compared to analysts’ expectations of $163.58 million. As a group, analysts predict that Q2 will post -0.05 earnings per share for the current year.

Insiders Place Their Bets

In other news, Director Jeffrey T. Diehl sold 1,015 shares of the company’s stock in a transaction dated Tuesday, June 4th. The shares were sold at an average price of $61.00, for a total value of $61,915.00. Following the sale, the director now directly owns 721,184 shares of the company’s stock, valued at approximately $43,992,224. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other news, Director Jeffrey T. Diehl sold 1,015 shares of the company’s stock in a transaction dated Tuesday, June 4th. The shares were sold at an average price of $61.00, for a total value of $61,915.00. Following the sale, the director now directly owns 721,184 shares of the company’s stock, valued at approximately $43,992,224. The sale was disclosed in a legal filing with the SEC, which can be accessed 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 directly owns 226,079 shares in the company, valued at $13,564,740. The disclosure for this sale can be found here. Insiders have sold 84,637 shares of company stock valued at $5,224,320 in the last three months. 3.60% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of QTWO. Hood River Capital Management LLC acquired a new position in shares of Q2 during the 1st quarter worth approximately $62,765,000. Price T Rowe Associates Inc. MD grew its position in shares of Q2 by 1,910.0% during 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 in the last quarter. Norges Bank acquired a new position in shares of Q2 during the 4th quarter worth approximately $20,470,000. Victory Capital Management Inc. grew its position in shares of Q2 by 855.4% during the 4th quarter. Victory Capital Management Inc. now owns 451,647 shares of the technology company’s stock worth $19,606,000 after purchasing an additional 404,372 shares in the last quarter. Finally, Wasatch Advisors LP grew its position in shares of Q2 by 10.8% during the 1st quarter. Wasatch Advisors LP now owns 4,078,877 shares of the technology company’s stock worth $214,386,000 after purchasing an additional 398,871 shares in the last quarter.

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.