Truist Financial reissued their buy rating on shares of Q2 (NYSE:QTWO – Free Report) in a research note issued to investors on Tuesday morning, Benzinga reports. They currently have a $68.00 price objective on the technology company’s stock, up from their prior price objective of $65.00.
Several other equities analysts have also recently issued reports on the stock. DA Davidson boosted their price objective on shares of Q2 from $58.00 to $65.00 and gave the company a buy rating in a research note on Friday, May 3rd. Morgan Stanley reiterated an equal weight rating and issued a $50.00 price objective (up from $40.00) on shares of Q2 in a research report on Thursday, May 2nd. Piper Sandler boosted their price objective on shares of Q2 from $47.00 to $61.00 and gave the stock a neutral rating in a research report on Friday, May 3rd. Canaccord Genuity Group boosted their price objective 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. Finally, BTIG Research upped their target price on shares of Q2 from $48.00 to $60.00 and gave the company a buy rating in a report on Thursday, May 2nd. Four research analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. According to MarketBeat.com, Q2 currently has a consensus rating of Moderate Buy and an average target price of $55.53.
Q2 Stock Performance
Shares of QTWO opened at $57.86 on Tuesday. The company has a debt-to-equity ratio of 1.06, a quick ratio of 2.38 and a current ratio of 2.38. The stock has a market capitalization of $3.48 billion, a P/E ratio of -42.86 and a beta of 1.53. The company’s fifty day moving average is $58.15 and its two-hundred day moving average is $49.52. Q2 has a 1 year low of $28.59 and a 1 year high of $64.17.
Q2 (NYSE:QTWO – Get Free Report) last announced its quarterly earnings data on Wednesday, May 1st. The technology company reported ($0.04) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.05) by $0.01. The company had revenue of $165.51 million for the quarter, compared to analysts’ expectations of $163.58 million. Q2 had a negative net margin of 12.35% and a negative return on equity of 5.88%. On average, sell-side analysts predict that Q2 will post -0.05 earnings per share for the current year.
Insider Activity
In related news, President Kirk L. Coleman sold 3,537 shares of the stock in a transaction that occurred on Monday, June 10th. The shares were sold at an average price of $61.26, for a total transaction of $216,676.62. Following the completion of the sale, the president now owns 352,177 shares of the company’s stock, valued at approximately $21,574,363.02. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other Q2 news, Director R. H. Seale sold 598 shares of the stock in a transaction that occurred on Monday, June 10th. The shares were sold at an average price of $61.26, for a total value of $36,633.48. Following the completion of the sale, the director now owns 420,171 shares of the company’s stock, valued at $25,739,675.46. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, President Kirk L. Coleman sold 3,537 shares of the stock in a transaction that occurred on Monday, June 10th. The shares were sold at an average price of $61.26, for a total transaction of $216,676.62. Following the completion of the sale, the president now directly owns 352,177 shares of the company’s stock, valued at approximately $21,574,363.02. The disclosure for this sale can be found here. Insiders sold a total of 80,684 shares of company stock valued at $4,888,275 in the last 90 days. 3.60% of the stock is currently owned by insiders.
Hedge Funds Weigh In On Q2
Several institutional investors and hedge funds have recently made changes to their positions in the business. DekaBank Deutsche Girozentrale lifted its stake in Q2 by 67.4% during the first quarter. DekaBank Deutsche Girozentrale now owns 55,617 shares of the technology company’s stock worth $2,908,000 after purchasing an additional 22,400 shares during the last quarter. Comerica Bank lifted its stake in Q2 by 4.4% during the first quarter. Comerica Bank now owns 172,251 shares of the technology company’s stock worth $9,054,000 after purchasing an additional 7,299 shares during the last quarter. Jacobs Levy Equity Management Inc. lifted its stake in Q2 by 13.8% during the first quarter. Jacobs Levy Equity Management Inc. now owns 25,329 shares of the technology company’s stock worth $1,331,000 after purchasing an additional 3,080 shares during the last quarter. Price T Rowe Associates Inc. MD lifted its stake in Q2 by 1,910.0% during the first quarter. Price T Rowe Associates Inc. MD now owns 719,767 shares of the technology company’s stock worth $37,832,000 after purchasing an additional 683,957 shares during the last quarter. Finally, Hood River Capital Management LLC bought a new position in Q2 during the first quarter worth $62,765,000.
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.
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Source: defenseworld.net