Q2 (NYSE:QTWO) Receives Buy Rating from Truist Financial

Truist Financial reiterated their buy rating on shares of Q2 (NYSE:QTWO) in a report released on Thursday morning, 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.

Several other research firms have also recently commented on QTWO. Stifel Nicolaus boosted their target price on Q2 from $48.00 to $60.00 and gave the stock a buy rating in a research note on Wednesday, April 24th. BTIG Research boosted their target price on Q2 from $48.00 to $60.00 and gave the company a buy rating in a report on Thursday, May 2nd. Morgan Stanley reissued an equal weight rating and issued a $50.00 target price (up from $40.00) on shares of Q2 in a report on Thursday, May 2nd. Royal Bank of Canada boosted their target price on Q2 from $46.00 to $60.00 and gave the company a sector perform rating in a report on Thursday, May 2nd. Finally, Piper Sandler boosted their price target on Q2 from $47.00 to $61.00 and gave the company a neutral rating in a research report on Friday, May 3rd. Five investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of Moderate Buy and a consensus price target of $65.86.

Q2 Trading Down 1.2 %

Shares of NYSE QTWO traded down $0.77 during trading on Thursday, reaching $65.93. The stock had a trading volume of 461,472 shares, compared to its average volume of 615,309. Q2 has a fifty-two week low of $28.91 and a fifty-two week high of $75.94. The company has a debt-to-equity ratio of 1.02, a quick ratio of 2.38 and a current ratio of 2.44. The business’s 50-day moving average price is $62.67 and its 200-day moving average price is $54.74. The company has a market cap of $3.97 billion, a P/E ratio of -49.41 and a beta of 1.54.

Insider Transactions at Q2

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

Hedge Funds Weigh In On Q2

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Hood River Capital Management LLC bought a new position in shares of Q2 in the 1st quarter valued at $62,765,000. Price T Rowe Associates Inc. MD lifted its stake in shares of Q2 by 1,910.0% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 719,767 shares of the technology company’s stock valued at $37,832,000 after purchasing an additional 683,957 shares during the period. Norges Bank bought a new position in Q2 in the fourth quarter worth approximately $20,470,000. Victory Capital Management Inc. boosted its holdings in Q2 by 855.4% in the fourth quarter. Victory Capital Management Inc. now owns 451,647 shares of the technology company’s stock worth $19,606,000 after acquiring an additional 404,372 shares in the last quarter. Finally, Wasatch Advisors LP raised its stake in shares of 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.

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.