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

Truist Financial reissued their buy rating on shares of Q2 (NYSE:QTWO) in a research note published on Thursday morning, Benzinga reports. Truist Financial currently has a $65.00 price objective on the technology company’s stock, up from their previous price objective of $60.00.

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

Q2 Stock Up 1.3 %

Shares of NYSE:QTWO traded up $0.78 during trading hours on Thursday, reaching $60.36. The stock had a trading volume of 1,212,357 shares, compared to its average volume of 623,325. The company has a debt-to-equity ratio of 1.06, a quick ratio of 2.23 and a current ratio of 2.38. The firm’s 50 day moving average is $50.79 and its 200-day moving average is $43.14. The stock has a market capitalization of $3.63 billion, a price-to-earnings ratio of -44.71 and a beta of 1.47. Q2 has a 1 year low of $21.21 and a 1 year high of $60.98.

Q2 (NYSE:QTWO) last issued its earnings results on Wednesday, February 21st. The technology company reported ($0.06) earnings per share for the quarter, topping the consensus estimate of ($0.10) by $0.04. The business 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 5.88% and a negative net margin of 12.35%. Research analysts predict that Q2 will post -0.05 earnings per share for the current fiscal year.

Insider Transactions at Q2

In other Q2 news, CEO Matthew P. Flake sold 45,000 shares of the stock in a transaction on Wednesday, February 7th. The stock was sold at an average price of $41.76, for a total transaction of $1,879,200.00. Following the sale, the chief executive officer now owns 473,411 shares in the company, valued at approximately $19,769,643.36. The sale was disclosed in a legal filing with the SEC, which is available through this link. In related news, CEO Matthew P. Flake sold 33,767 shares of the company’s stock in a transaction that occurred on Friday, February 9th. The shares were sold at an average price of $42.93, for a total transaction of $1,449,617.31. Following the transaction, the chief executive officer now owns 473,411 shares of the company’s stock, valued at $20,323,534.23. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Matthew P. Flake sold 45,000 shares of Q2 stock in a transaction that occurred on Wednesday, February 7th. The stock was sold at an average price of $41.76, for a total transaction of $1,879,200.00. Following the completion of the sale, the chief executive officer now directly owns 473,411 shares of the company’s stock, valued at $19,769,643.36. The disclosure for this sale can be found here. Insiders sold a total of 290,702 shares of company stock valued at $13,014,042 in the last ninety days. Corporate insiders own 3.60% of the company’s stock.

Institutional Investors Weigh In On Q2

Several hedge funds have recently made changes to their positions in the business. Jennison Associates LLC raised its stake in Q2 by 147.4% during the third quarter. Jennison Associates LLC now owns 1,225,286 shares of the technology company’s stock worth $39,540,000 after purchasing an additional 729,959 shares during the period. Vanguard Group Inc. raised its position in shares of Q2 by 7.5% in the 3rd quarter. Vanguard Group Inc. now owns 6,952,848 shares of the technology company’s stock worth $224,368,000 after buying an additional 487,111 shares during the period. Norges Bank acquired a new position in Q2 in the fourth quarter valued at $20,470,000. Victory Capital Management Inc. grew its position in Q2 by 855.4% during the fourth quarter. Victory Capital Management Inc. now owns 451,647 shares of the technology company’s stock valued at $19,606,000 after acquiring an additional 404,372 shares during the period. Finally, Wasatch Advisors LP increased its stake in Q2 by 10.8% during the first quarter. Wasatch Advisors LP now owns 4,078,877 shares of the technology company’s stock worth $214,386,000 after acquiring 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.