Q2 (NYSE:QTWO) Share Price Crosses Above 50-Day Moving Average – Here’s Why

Shares of Q2 Holdings, Inc. (NYSE:QTWO) passed above its 50 day moving average during trading on Tuesday . The stock has a 50 day moving average of $101.35 and traded as high as $101.50. Q2 shares last traded at $98.21, with a volume of 616,620 shares.

Analysts Set New Price Targets

Several research analysts have recently weighed in on QTWO shares. Truist Financial reissued a “buy” rating and set a $100.00 price objective (up from $78.00) on shares of Q2 in a report on Thursday, November 7th. Piper Sandler boosted their target price on shares of Q2 from $74.00 to $93.00 and gave the company a “neutral” rating in a research note on Thursday, November 7th. Stifel Nicolaus lifted their price objective on Q2 from $100.00 to $115.00 and gave the stock a “buy” rating in a report on Wednesday, December 18th. DA Davidson increased their target price on Q2 from $76.00 to $86.00 and gave the company a “neutral” rating in a report on Monday, November 11th. Finally, The Goldman Sachs Group raised their target price on Q2 from $86.00 to $103.00 and gave the stock a “buy” rating in a research report on Thursday, November 7th. Five analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. Based on data from MarketBeat, Q2 presently has a consensus rating of “Moderate Buy” and a consensus price target of $95.80.

Q2 Price Performance

The firm’s fifty day simple moving average is $101.91 and its two-hundred day simple moving average is $82.79. The company has a quick ratio of 2.50, a current ratio of 2.50 and a debt-to-equity ratio of 0.99. The firm has a market cap of $6.04 billion, a PE ratio of -104.13 and a beta of 1.61.

Insider Buying and Selling

In related news, Director James Offerdahl sold 548 shares of the firm’s stock in a transaction on Friday, November 22nd. The shares were sold at an average price of $104.95, for a total transaction of $57,512.60. Following the completion of the transaction, the director now directly owns 18,241 shares of the company’s stock, valued at approximately $1,914,392.95. This trade represents a 2.92 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CRO Michael A. Volanoski sold 4,178 shares of the business’s stock in a transaction on Tuesday, December 10th. The stock was sold at an average price of $106.00, for a total transaction of $442,868.00. Following the completion of the sale, the executive now owns 223,494 shares in the company, valued at approximately $23,690,364. The trade was a 1.84 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 28,836 shares of company stock valued at $3,061,035. Company insiders own 3.00% of the company’s stock.

Hedge Funds Weigh In On Q2

Institutional investors have recently added to or reduced their stakes in the company. Conestoga Capital Advisors LLC lifted its stake in shares of Q2 by 1.5% in the 3rd quarter. Conestoga Capital Advisors LLC now owns 2,308,194 shares of the technology company’s stock valued at $184,125,000 after purchasing an additional 34,300 shares during the last quarter. State Street Corp lifted its position in Q2 by 0.3% in the third quarter. State Street Corp now owns 1,668,767 shares of the technology company’s stock worth $133,118,000 after buying an additional 5,000 shares during the last quarter. Geode Capital Management LLC boosted its stake in Q2 by 1.5% during the third quarter. Geode Capital Management LLC now owns 1,353,156 shares of the technology company’s stock worth $107,963,000 after buying an additional 19,520 shares during the period. Hood River Capital Management LLC increased its position in Q2 by 5.7% during the second quarter. Hood River Capital Management LLC now owns 1,261,924 shares of the technology company’s stock valued at $76,132,000 after acquiring an additional 67,757 shares during the last quarter. Finally, American Century Companies Inc. raised its stake in shares of Q2 by 5,990.6% in the second quarter. American Century Companies Inc. now owns 1,210,143 shares of the technology company’s stock valued at $73,008,000 after acquiring an additional 1,190,274 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.