Q2 (NYSE:QTWO) Given New $59.00 Price Target at The Goldman Sachs Group

Q2 (NYSE:QTWO) had its target price raised by The Goldman Sachs Group from $52.00 to $59.00 in a report published on Thursday morning, Benzinga reports. The Goldman Sachs Group currently has a buy rating on the technology company’s stock.

Several other brokerages have also recently weighed in on QTWO. DA Davidson raised their price target on shares of Q2 from $48.00 to $58.00 and gave the company a buy rating in a research report on Tuesday, February 27th. Royal Bank of Canada raised their price target on shares of Q2 from $46.00 to $60.00 and gave the company a sector perform rating in a research report on Thursday. Piper Sandler raised their price target on shares of Q2 from $41.00 to $47.00 and gave the company a neutral rating in a research report on Thursday, February 22nd. Robert W. Baird raised their price target on shares of Q2 from $60.00 to $65.00 and gave the company an outperform rating in a research report on Thursday. Finally, Truist Financial reissued a buy rating and set a $65.00 target price (up previously from $60.00) on shares of Q2 in a research report on Thursday. Four analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of Moderate Buy and an average target price of $55.33.

Q2 Stock Up 1.3 %

Shares of QTWO traded up $0.78 during trading hours on Thursday, hitting $60.36. The stock had a trading volume of 1,212,357 shares, compared to its average volume of 623,325. The company has a debt-to-equity ratio of 1.06, a current ratio of 2.38 and a quick ratio of 2.23. The firm has a 50 day simple moving average of $50.79 and a 200-day simple moving average of $43.14. The firm has a market capitalization of $3.63 billion, a P/E ratio of -44.71 and a beta of 1.47. Q2 has a 1-year low of $21.21 and a 1-year high of $60.98.

Q2 (NYSE:QTWO) last issued its earnings results on Wednesday, February 21st. The technology company reported ($0.06) EPS for the quarter, beating the consensus estimate of ($0.10) by $0.04. The company had revenue of $162.12 million during the quarter, compared to the consensus estimate of $161.31 million. Q2 had a negative return on equity of 5.88% and a negative net margin of 12.35%. Sell-side analysts predict that Q2 will post -0.05 EPS for the current fiscal year.

Insider Activity at Q2

In other news, President Kirk L. Coleman sold 2,904 shares of the business’s stock in a transaction on Monday, March 4th. The shares were sold at an average price of $46.01, for a total transaction of $133,613.04. Following the completion of the transaction, the president now directly owns 253,015 shares in the company, valued at approximately $11,641,220.15. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, President Kirk L. Coleman sold 2,904 shares of Q2 stock in a transaction on Monday, March 4th. The shares were sold at an average price of $46.01, for a total transaction of $133,613.04. Following the completion of the sale, the president now directly owns 253,015 shares of the company’s stock, valued at approximately $11,641,220.15. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, President Kirk L. Coleman sold 4,437 shares of Q2 stock in a transaction on Wednesday, March 6th. The stock was sold at an average price of $46.50, for a total transaction of $206,320.50. Following the sale, the president now directly owns 248,578 shares of the company’s stock, valued at $11,558,877. The disclosure for this sale can be found here. In the last ninety days, insiders sold 290,702 shares of company stock worth $13,014,042. Corporate insiders own 3.60% of the company’s stock.

Institutional Trading of Q2

A number of hedge funds have recently made changes to their positions in the stock. Vanguard Group Inc. lifted its holdings in shares of Q2 by 7.5% during the 3rd quarter. Vanguard Group Inc. now owns 6,952,848 shares of the technology company’s stock worth $224,368,000 after acquiring an additional 487,111 shares during the last quarter. Wasatch Advisors LP lifted its stake in Q2 by 10.8% in the first 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 during the last quarter. Conestoga Capital Advisors LLC lifted its stake in Q2 by 0.7% in the first quarter. Conestoga Capital Advisors LLC now owns 2,218,924 shares of the technology company’s stock worth $116,627,000 after purchasing an additional 15,510 shares during the last quarter. North Reef Capital Management LP lifted its stake in Q2 by 21.2% in the third quarter. North Reef Capital Management LP now owns 2,070,000 shares of the technology company’s stock worth $66,799,000 after purchasing an additional 362,227 shares during the last quarter. Finally, Jennison Associates LLC lifted its stake in Q2 by 14.6% in the first quarter. Jennison Associates LLC now owns 1,852,407 shares of the technology company’s stock worth $97,363,000 after purchasing an additional 235,582 shares during 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.