Q2 (NYSE:QTWO) Price Target Raised to $60.00

Q2 (NYSE:QTWO) had its price objective boosted by BTIG Research from $48.00 to $60.00 in a research note released on Thursday morning, Benzinga reports. The brokerage currently has a buy rating on the technology company’s stock.

QTWO has been the subject of a number of other reports. Piper Sandler increased their price target on Q2 from $41.00 to $47.00 and gave the company a neutral rating in a research note on Thursday, February 22nd. Canaccord Genuity Group increased their price target on Q2 from $40.00 to $55.00 and gave the company a buy rating in a research note on Friday, February 23rd. Robert W. Baird increased their price target on Q2 from $60.00 to $65.00 and gave the company an outperform rating in a research note on Thursday. Royal Bank of Canada raised their price objective on Q2 from $46.00 to $60.00 and gave the stock a sector perform rating in a research note on Thursday. Finally, Stifel Nicolaus raised their price objective on Q2 from $48.00 to $60.00 and gave the stock a buy rating in a research note on Wednesday, April 24th. Four research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of Moderate Buy and an average price target of $55.33.

Q2 Stock Up 1.3 %

QTWO stock traded up $0.78 during trading on Thursday, reaching $60.36. 1,212,357 shares of the company traded hands, compared to its average volume of 623,325. Q2 has a 12 month low of $21.21 and a 12 month high of $60.98. The business has a 50 day simple moving average of $50.79 and a 200 day simple moving average of $43.14. The company has a market capitalization of $3.63 billion, a price-to-earnings ratio of -44.71 and a beta of 1.47. The company has a debt-to-equity ratio of 1.06, a quick ratio of 2.23 and a current ratio of 2.38.

Q2 (NYSE:QTWO) last issued its quarterly earnings data on Wednesday, February 21st. The technology company reported ($0.06) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.10) by $0.04. Q2 had a negative return on equity of 5.88% and a negative net margin of 12.35%. The company had revenue of $162.12 million for the quarter, compared to the consensus estimate of $161.31 million. On average, equities research analysts anticipate that Q2 will post -0.05 earnings per share for the current fiscal year.

Insider Buying and Selling at Q2

In other Q2 news, Director R. H. Seale sold 689 shares of the firm’s stock in a transaction that occurred on Monday, March 11th. The stock was sold at an average price of $48.75, for a total value of $33,588.75. Following the sale, the director now directly owns 420,769 shares of the company’s stock, valued at $20,512,488.75. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In related news, CEO Matthew P. Flake sold 45,000 shares of the business’s stock in a transaction that occurred on Monday, February 5th. The stock was sold at an average price of $41.09, for a total transaction of $1,849,050.00. Following the completion of the sale, the chief executive officer now directly owns 473,411 shares in the company, valued at $19,452,457.99. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director R. H. Seale sold 689 shares of the business’s stock in a transaction that occurred on Monday, March 11th. The stock was sold at an average price of $48.75, for a total value of $33,588.75. Following the sale, the director now owns 420,769 shares of the company’s stock, valued at $20,512,488.75. The disclosure for this sale can be found here. Over the last three months, insiders have sold 290,702 shares of company stock valued at $13,014,042. Company insiders own 3.60% of the company’s stock.

Institutional Trading of Q2

Large investors have recently made changes to their positions in the company. Nordea Investment Management AB purchased a new stake in shares of Q2 during the fourth quarter worth approximately $1,938,000. Vanguard Group Inc. increased its position in shares of Q2 by 7.5% during the third quarter. Vanguard Group Inc. now owns 6,952,848 shares of the technology company’s stock worth $224,368,000 after purchasing an additional 487,111 shares in the last quarter. Jennison Associates LLC boosted its stake in Q2 by 32.0% during the fourth quarter. Jennison Associates LLC now owns 1,616,825 shares of the technology company’s stock worth $70,186,000 after buying an additional 391,539 shares during the last quarter. Deutsche Bank AG boosted its stake in Q2 by 13.4% during the third quarter. Deutsche Bank AG now owns 29,559 shares of the technology company’s stock worth $954,000 after buying an additional 3,496 shares during the last quarter. Finally, Lisanti Capital Growth LLC acquired a new position in Q2 during the third quarter worth $5,534,000.

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.