BTIG Research Boosts Q2 (NYSE:QTWO) Price Target to $60.00

Q2 (NYSE:QTWO) had its price objective raised by stock analysts at BTIG Research from $48.00 to $60.00 in a report released on Thursday, Benzinga reports. The brokerage currently has a “buy” rating on the technology company’s stock. BTIG Research’s price target indicates a potential upside of 3.25% from the company’s previous close.

A number of other research analysts have also recently issued reports on QTWO. Truist Financial reissued a “buy” rating and issued a $65.00 target price (up from $60.00) on shares of Q2 in a research note on Thursday. Canaccord Genuity Group raised their target price on shares of Q2 from $40.00 to $55.00 and gave the company a “buy” rating in a research note on Friday, February 23rd. Needham & Company LLC increased their price target on shares of Q2 from $58.00 to $65.00 and gave the company a “buy” rating in a research note on Thursday. Robert W. Baird increased their price target on Q2 from $60.00 to $65.00 and gave the company an “outperform” rating in a research note on Thursday. Finally, 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 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 company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $53.93.

Q2 Stock Performance

Shares of QTWO traded up $6.38 during mid-day trading on Thursday, hitting $58.11. The company’s stock had a trading volume of 841,764 shares, compared to its average volume of 616,503. The stock’s 50-day moving average is $50.26 and its two-hundred day moving average is $42.83. The firm has a market capitalization of $3.43 billion, a PE ratio of -51.33 and a beta of 1.47. Q2 has a one year low of $21.21 and a one year high of $58.20. The company has a debt-to-equity ratio of 1.09, a quick ratio of 2.23 and a current ratio of 2.23.

Q2 (NYSE:QTWO) last released its earnings results on Wednesday, February 21st. The technology company reported ($0.06) earnings per share for the quarter, beating the consensus estimate of ($0.10) by $0.04. The firm had revenue of $162.12 million for the quarter, compared to analyst estimates of $161.31 million. Q2 had a negative return on equity of 6.75% and a negative net margin of 10.47%. As a group, sell-side analysts anticipate that Q2 will post -0.05 EPS for the current year.

Insiders Place Their Bets

In other news, Director R. H. Seale sold 689 shares of the firm’s stock in a transaction 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 completion of the transaction, the director now directly owns 420,769 shares in the company, valued at $20,512,488.75. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, President Kirk L. Coleman sold 2,904 shares of the firm’s stock in a transaction dated Monday, March 4th. The shares were sold at an average price of $46.01, for a total transaction of $133,613.04. Following the sale, the president now owns 253,015 shares of the company’s stock, valued at approximately $11,641,220.15. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director R. H. Seale sold 689 shares of Q2 stock in a transaction on Monday, March 11th. The stock was sold at an average price of $48.75, for a total value of $33,588.75. Following the completion of the sale, the director now directly owns 420,769 shares of the company’s stock, valued at approximately $20,512,488.75. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 337,639 shares of company stock worth $14,994,784. 3.60% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Q2

A number of hedge funds have recently made changes to their positions in QTWO. Jennison Associates LLC increased its position in Q2 by 147.4% during the third 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 during the last quarter. Vanguard Group Inc. grew its holdings in 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 purchasing an additional 487,111 shares during the last quarter. Norges Bank purchased a new stake in Q2 in the 4th quarter worth about $20,470,000. Victory Capital Management Inc. lifted its stake 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 purchasing an additional 404,372 shares during the last quarter. Finally, Wasatch Advisors LP boosted its position in shares of 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 buying 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.