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

Q2 (NYSE:QTWO)‘s stock had its “buy” rating reaffirmed by analysts at Truist Financial in a research report issued on Thursday, Benzinga reports. They presently have a $65.00 price target on the technology company’s stock, up from their prior price target of $60.00. Truist Financial’s price target would indicate a potential upside of 7.69% from the company’s current price.

A number of other equities analysts have also weighed in on the stock. DA Davidson boosted their price objective on shares of Q2 from $48.00 to $58.00 and gave the company a “buy” rating in a research report on Tuesday, February 27th. The Goldman Sachs Group boosted their price target on Q2 from $39.00 to $51.00 and gave the company a “buy” rating in a report on Tuesday, January 23rd. Robert W. Baird raised their price objective on Q2 from $60.00 to $65.00 and gave the stock an “outperform” rating in a report on Thursday. Piper Sandler lifted their price objective on Q2 from $41.00 to $47.00 and gave the company a “neutral” rating in a research report on Thursday, February 22nd. Finally, Canaccord Genuity Group increased their target price on Q2 from $40.00 to $55.00 and gave the stock a “buy” rating in a research report on Friday, February 23rd. Four equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $55.33.

Q2 Price Performance

Q2 stock traded up $0.78 during mid-day trading on Thursday, hitting $60.36. 1,212,357 shares of the company were exchanged, compared to its average volume of 623,325. Q2 has a 12-month low of $21.21 and a 12-month high of $60.98. The company has a market capitalization of $3.63 billion, a P/E ratio of -44.71 and a beta of 1.47. The business’s 50 day simple moving average is $50.79 and its two-hundred day simple moving average is $43.14. The company has a debt-to-equity ratio of 1.06, a current ratio of 2.38 and a quick ratio of 2.23.

Q2 (NYSE:QTWO) last posted its quarterly earnings data on Wednesday, February 21st. The technology company reported ($0.06) EPS for the quarter, beating analysts’ consensus estimates of ($0.10) by $0.04. Q2 had a negative return on equity of 5.88% and a negative net margin of 12.35%. The business had revenue of $162.12 million for the quarter, compared to analyst estimates of $161.31 million. Analysts forecast that Q2 will post -0.05 earnings per share for the current fiscal year.

Insider Buying and Selling at Q2

In other 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 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In related news, President Kirk L. Coleman sold 2,904 shares of the business’s stock in a transaction that occurred on Monday, March 4th. The stock was sold at an average price of $46.01, for a total transaction of $133,613.04. Following the transaction, the president now directly owns 253,015 shares of the company’s stock, valued at approximately $11,641,220.15. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Matthew P. Flake sold 45,000 shares of the company’s stock in a transaction that occurred on 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 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 over the last ninety days. Corporate insiders own 3.60% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the company. Vanguard Group Inc. increased its position in shares of Q2 by 7.5% during the third quarter. Vanguard Group Inc. now owns 6,952,848 shares of the technology company’s stock worth $224,368,000 after acquiring an additional 487,111 shares during the last quarter. Wasatch Advisors LP grew its stake in Q2 by 10.8% during the 1st quarter. Wasatch Advisors LP now owns 4,078,877 shares of the technology company’s stock valued at $214,386,000 after purchasing an additional 398,871 shares in the last quarter. Conestoga Capital Advisors LLC increased its holdings in Q2 by 0.7% during the 1st quarter. Conestoga Capital Advisors LLC now owns 2,218,924 shares of the technology company’s stock worth $116,627,000 after purchasing an additional 15,510 shares during the last quarter. North Reef Capital Management LP raised its position in shares of Q2 by 21.2% in the 3rd quarter. North Reef Capital Management LP now owns 2,070,000 shares of the technology company’s stock valued at $66,799,000 after purchasing an additional 362,227 shares in the last quarter. Finally, Jennison Associates LLC boosted its stake in shares of Q2 by 14.6% during the 1st quarter. Jennison Associates LLC now owns 1,852,407 shares of the technology company’s stock valued at $97,363,000 after buying an additional 235,582 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.