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

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

A number of other research analysts have also weighed in on the stock. Canaccord Genuity Group boosted their target price on shares of Q2 from $40.00 to $55.00 and gave the stock a “buy” rating in a research report on Friday, February 23rd. Truist Financial reissued a “buy” rating and set a $65.00 price objective (up previously from $60.00) on shares of Q2 in a research report on Thursday. Needham & Company LLC raised their target price on Q2 from $58.00 to $65.00 and gave the company a “buy” rating in a report on Thursday. Stifel Nicolaus upped their price target on Q2 from $48.00 to $60.00 and gave the stock a “buy” rating in a report on Wednesday, April 24th. Finally, Robert W. Baird upped their price objective on Q2 from $60.00 to $65.00 and gave the company an “outperform” rating in a research note on Thursday. Four analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. According to MarketBeat.com, Q2 currently has an average rating of “Moderate Buy” and a consensus target price of $51.33.

Q2 Stock Up 9.3 %

QTWO traded up $4.83 during midday trading on Thursday, hitting $56.56. 507,947 shares of the company’s stock traded hands, compared to its average volume of 612,291. The company has a debt-to-equity ratio of 1.09, a current ratio of 2.23 and a quick ratio of 2.23. The company has a market cap of $3.34 billion, a PE ratio of -50.65 and a beta of 1.47. The stock’s fifty day simple moving average is $50.26 and its 200-day simple moving average is $42.83. Q2 has a one year low of $21.21 and a one year high of $57.40.

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

Insider Activity at Q2

In other Q2 news, Director R. H. Seale sold 9,000 shares of the business’s stock in a transaction dated Friday, April 19th. The stock was sold at an average price of $50.10, for a total transaction of $450,900.00. Following the completion of the sale, the director now directly owns 363,754 shares of the company’s stock, valued at approximately $18,224,075.40. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other Q2 news, CEO Matthew P. Flake sold 46,937 shares of the firm’s stock in a transaction dated 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 transaction, the chief executive officer now owns 473,411 shares in the company, valued at $19,977,944.20. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, Director R. H. Seale sold 9,000 shares of the company’s stock in a transaction dated Friday, April 19th. The shares were sold at an average price of $50.10, for a total value of $450,900.00. Following the completion of the sale, the director now directly owns 363,754 shares of the company’s stock, valued at $18,224,075.40. The disclosure for this sale can be found here. Insiders have sold a total of 337,639 shares of company stock worth $14,994,784 over the last 90 days. Insiders own 3.60% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the company. MCF Advisors LLC raised its holdings in Q2 by 156.5% in the fourth quarter. MCF Advisors LLC now owns 613 shares of the technology company’s stock worth $27,000 after purchasing an additional 374 shares during the period. International Assets Investment Management LLC boosted its stake in shares of Q2 by 2,582.4% during the 4th quarter. International Assets Investment Management LLC now owns 912 shares of the technology company’s stock worth $40,000 after buying an additional 878 shares during the last quarter. Arcadia Investment Management Corp MI increased its position in shares of Q2 by 193.7% in the fourth quarter. Arcadia Investment Management Corp MI now owns 1,119 shares of the technology company’s stock valued at $49,000 after acquiring an additional 738 shares during the last quarter. Fidelis Capital Partners LLC bought a new stake in Q2 during the first quarter worth about $50,000. Finally, RiverPark Advisors LLC boosted its position in Q2 by 261.0% during the fourth quarter. RiverPark Advisors LLC now owns 1,332 shares of the technology company’s stock valued at $58,000 after purchasing an additional 963 shares during the last quarter.

Q2 Company Profile

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.