Q2 (NYSE:QTWO) Given Buy Rating at Truist Financial

Truist Financial reiterated their buy rating on shares of Q2 (NYSE:QTWO) in a research note published on Thursday, Benzinga reports. They currently have a $78.00 price objective on the technology company’s stock, up from their prior price objective of $68.00.

QTWO has been the topic of several other reports. Stifel Nicolaus lifted their price target on shares of Q2 from $48.00 to $60.00 and gave the company a buy rating in a research note on Wednesday, April 24th. Royal Bank of Canada lifted their price target 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. DA Davidson lowered shares of Q2 from a buy rating to a neutral rating and lifted their price target for the company from $65.00 to $76.00 in a research note on Wednesday, July 24th. The Goldman Sachs Group lifted their price target on shares of Q2 from $52.00 to $59.00 and gave the company a buy rating in a research note on Thursday, May 2nd. Finally, Needham & Company LLC boosted their price objective on shares of Q2 from $58.00 to $65.00 and gave the stock a buy rating in a research note on Thursday, May 2nd. Five research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. According to MarketBeat, Q2 presently has an average rating of Moderate Buy and an average price target of $64.13.

Q2 Stock Down 4.1 %

QTWO traded down $2.84 during trading on Thursday, hitting $67.21. The company had a trading volume of 225,128 shares, compared to its average volume of 612,257. The company has a market capitalization of $4.04 billion, a PE ratio of -51.83 and a beta of 1.54. Q2 has a one year low of $28.91 and a one year high of $75.94. The firm’s 50-day moving average price is $62.58 and its 200 day moving average price is $54.40. The company has a quick ratio of 2.38, a current ratio of 2.38 and a debt-to-equity ratio of 1.06.

Q2 (NYSE:QTWO) last issued its quarterly earnings results on Wednesday, May 1st. The technology company reported ($0.04) earnings per share (EPS) for the quarter, beating 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 for the quarter, compared to analyst estimates of $163.58 million. As a group, equities analysts expect that Q2 will post -0.05 earnings per share for the current year.

Insider Buying and Selling

In other Q2 news, Director Jeffrey T. Diehl sold 27,248 shares of the business’s stock in a transaction dated Wednesday, May 29th. The shares were sold at an average price of $62.51, for a total value of $1,703,272.48. Following the completion of the sale, the director now owns 750,314 shares of the company’s stock, valued at approximately $46,902,128.14. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Q2 news, Director Jeffrey T. Diehl sold 27,248 shares of the business’s stock in a transaction dated Wednesday, May 29th. The shares were sold at an average price of $62.51, for a total value of $1,703,272.48. Following the completion of the sale, the director now owns 750,314 shares of the company’s stock, valued at approximately $46,902,128.14. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Jeffrey T. Diehl sold 1,015 shares of the business’s stock in a transaction dated Tuesday, June 4th. The shares were sold at an average price of $61.00, for a total transaction of $61,915.00. Following the completion of the sale, the director now directly owns 721,184 shares of the company’s stock, valued at approximately $43,992,224. The disclosure for this sale can be found here. In the last 90 days, insiders sold 84,637 shares of company stock valued at $5,224,320. Company insiders own 3.60% of the company’s stock.

Hedge Funds Weigh In On Q2

A number of institutional investors have recently added to or reduced their stakes in the stock. Wasatch Advisors LP increased its position in 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. Brown Capital Management LLC increased its position in Q2 by 0.4% during the 1st quarter. Brown Capital Management LLC now owns 2,565,647 shares of the technology company’s stock worth $134,850,000 after purchasing an additional 11,000 shares in the last quarter. Conestoga Capital Advisors LLC increased its position in Q2 by 2.5% during the 2nd quarter. Conestoga Capital Advisors LLC now owns 2,273,894 shares of the technology company’s stock worth $137,184,000 after purchasing an additional 54,970 shares in the last quarter. Jennison Associates LLC increased its position in Q2 by 14.6% during the 1st 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 in the last quarter. Finally, Hood River Capital Management LLC acquired a new position in Q2 during the 1st quarter worth approximately $62,765,000.

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.