The Goldman Sachs Group Boosts Q2 (NYSE:QTWO) Price Target to $59.00

Q2 (NYSE:QTWO) had its price objective lifted by research analysts at The Goldman Sachs Group from $52.00 to $59.00 in a research report issued on Thursday, Benzinga reports. The brokerage currently has a “buy” rating on the technology company’s stock. The Goldman Sachs Group’s price target would indicate a potential upside of 4.31% from the stock’s previous close.

A number of other research analysts have also recently commented on the stock. Stifel Nicolaus upped their price target on shares of Q2 from $48.00 to $60.00 and gave the stock a “buy” rating in a report on Wednesday, April 24th. Piper Sandler raised their target price on shares of Q2 from $41.00 to $47.00 and gave the stock a “neutral” rating in a research report on Thursday, February 22nd. Canaccord Genuity Group increased their price objective on Q2 from $40.00 to $55.00 and gave the stock a “buy” rating in a research note on Friday, February 23rd. Royal Bank of Canada lifted their target price on Q2 from $46.00 to $60.00 and gave the company a “sector perform” rating in a research report on Thursday. Finally, DA Davidson increased their target price on shares of Q2 from $48.00 to $58.00 and gave the stock a “buy” rating in a report on Tuesday, February 27th. Four equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $51.33.

Q2 Trading Up 9.3 %

NYSE QTWO traded up $4.83 on Thursday, hitting $56.56. 507,947 shares of the stock were exchanged, compared to its average volume of 612,291. Q2 has a 52-week low of $21.21 and a 52-week high of $57.40. The firm has a market capitalization of $3.34 billion, a P/E ratio of -50.65 and a beta of 1.47. The company has a debt-to-equity ratio of 1.09, a quick ratio of 2.23 and a current ratio of 2.23. The stock has a fifty day moving average price of $50.26 and a two-hundred day moving average price of $42.83.

Q2 (NYSE:QTWO) last issued its quarterly earnings results on Wednesday, February 21st. The technology company reported ($0.06) EPS for the quarter, beating the consensus estimate of ($0.10) by $0.04. Q2 had a negative net margin of 10.47% and a negative return on equity of 6.75%. The company had revenue of $162.12 million for the quarter, compared to the consensus estimate of $161.31 million. Research analysts forecast that Q2 will post -0.05 EPS for the current fiscal year.

Insider Activity at Q2

In other Q2 news, CEO Matthew P. Flake sold 45,000 shares of the firm’s stock in a transaction dated Monday, February 5th. The stock was sold at an average price of $41.09, for a total value of $1,849,050.00. Following the completion of the sale, the chief executive officer now owns 473,411 shares of the company’s stock, valued at $19,452,457.99. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. In other Q2 news, CEO Matthew P. Flake sold 45,000 shares of the company’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 transaction of $1,849,050.00. Following the transaction, the chief executive officer now owns 473,411 shares in the company, valued at approximately $19,452,457.99. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Matthew P. Flake sold 46,937 shares of Q2 stock in a transaction on Friday, February 2nd. The stock was sold at an average price of $42.20, for a total transaction of $1,980,741.40. Following the sale, the chief executive officer now owns 473,411 shares of the company’s stock, valued at $19,977,944.20. The disclosure for this sale can be found here. Insiders have sold 337,639 shares of company stock valued at $14,994,784 in the last ninety days. Corporate insiders own 3.60% of the company’s stock.

Institutional Trading of Q2

Institutional investors and hedge funds have recently bought and sold shares of the business. Vanguard Group Inc. raised its stake in shares of Q2 by 7.5% during the 3rd quarter. Vanguard Group Inc. now owns 6,952,848 shares of the technology company’s stock valued at $224,368,000 after buying an additional 487,111 shares during the last quarter. Wasatch Advisors LP raised its position in Q2 by 10.8% during the first quarter. Wasatch Advisors LP now owns 4,078,877 shares of the technology company’s stock valued at $214,386,000 after acquiring an additional 398,871 shares in the last quarter. Conestoga Capital Advisors LLC raised its position in Q2 by 0.7% during the first quarter. Conestoga Capital Advisors LLC now owns 2,218,924 shares of the technology company’s stock valued at $116,627,000 after acquiring an additional 15,510 shares in the last quarter. North Reef Capital Management LP lifted its holdings in Q2 by 21.2% in the third quarter. North Reef Capital Management LP now owns 2,070,000 shares of the technology company’s stock valued at $66,799,000 after acquiring an additional 362,227 shares during the period. Finally, Jennison Associates LLC boosted its position in Q2 by 32.0% in the 4th quarter. Jennison Associates LLC now owns 1,616,825 shares of the technology company’s stock worth $70,186,000 after purchasing an additional 391,539 shares in 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.