Q2 (NYSE:QTWO) Given New $65.00 Price Target at DA Davidson

Q2 (NYSE:QTWO) had its price target upped by DA Davidson from $58.00 to $65.00 in a report released on Friday morning, Benzinga reports. The brokerage currently has a buy rating on the technology company’s stock.

Several other research analysts have also commented on the stock. 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 report on Thursday. Needham & Company LLC raised their target price on shares of Q2 from $58.00 to $65.00 and gave the company a buy rating in a research note on Thursday. BTIG Research upped their price target on shares of Q2 from $48.00 to $60.00 and gave the stock a buy rating in a research report on Thursday. The Goldman Sachs Group raised their price objective on Q2 from $52.00 to $59.00 and gave the company a buy rating in a research report on Thursday. Finally, Truist Financial reaffirmed a buy rating and issued a $65.00 target price (up previously from $60.00) on shares of Q2 in a research report on Thursday. Four research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. According to MarketBeat, the company currently has an average rating of Moderate Buy and a consensus price target of $55.33.

Q2 Trading Up 1.3 %

Q2 stock traded up $0.78 during trading on Friday, reaching $60.36. The company had a trading volume of 1,212,357 shares, compared to its average volume of 623,325. The firm 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. The stock’s 50 day moving average price is $50.79 and its two-hundred day moving average price is $43.14. Q2 has a 12-month low of $21.21 and a 12-month high of $60.98.

Q2 (NYSE:QTWO) last posted its quarterly earnings results on Wednesday, February 21st. The technology company reported ($0.06) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.10) by $0.04. The firm 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%. As a group, equities analysts expect that Q2 will post -0.05 earnings per share for the current fiscal year.

Insider Buying and Selling at Q2

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

Institutional Investors Weigh In On Q2

A number of hedge funds have recently added to or reduced their stakes in the stock. Jennison Associates LLC raised its stake in Q2 by 147.4% during the 3rd quarter. Jennison Associates LLC now owns 1,225,286 shares of the technology company’s stock valued at $39,540,000 after acquiring an additional 729,959 shares in the last quarter. Vanguard Group Inc. boosted its holdings in shares of Q2 by 7.5% in the third quarter. Vanguard Group Inc. now owns 6,952,848 shares of the technology company’s stock valued at $224,368,000 after acquiring an additional 487,111 shares in the last quarter. Norges Bank acquired a new position in shares of Q2 during the fourth quarter valued at approximately $20,470,000. Victory Capital Management Inc. raised its holdings in Q2 by 855.4% during the fourth 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 lifted its position 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 period.

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.