Truist Financial Reiterates “Buy” Rating for Q2 (NYSE:QTWO)

Q2 (NYSE:QTWO)‘s stock had its “buy” rating reiterated by analysts at Truist Financial in a research report issued to clients and investors on Friday, Benzinga reports. They presently have a $60.00 price target on the technology company’s stock, up from their prior price target of $50.00. Truist Financial’s price target indicates a potential upside of 18.04% from the company’s previous close.

Other equities analysts have also recently issued research reports about the company. Piper Sandler boosted their price objective on Q2 from $41.00 to $47.00 and gave the company a “neutral” rating in a report on Thursday, February 22nd. DA Davidson lifted their price target on Q2 from $48.00 to $58.00 and gave the company a “buy” rating in a research note on Tuesday, February 27th. TheStreet upgraded Q2 from a “d+” rating to a “c-” rating in a research note on Friday, December 29th. The Goldman Sachs Group boosted their price objective on Q2 from $39.00 to $51.00 and gave the stock a “buy” rating in a research note on Tuesday, January 23rd. Finally, Robert W. Baird boosted their price objective on Q2 from $50.00 to $60.00 and gave the stock an “outperform” rating in a research note on Monday, March 18th. Four investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $45.33.

Q2 Stock Up 2.0 %

Shares of NYSE:QTWO traded up $1.02 on Friday, reaching $50.83. The company had a trading volume of 26,186 shares, compared to its average volume of 615,453. The company has a current ratio of 2.23, a quick ratio of 2.23 and a debt-to-equity ratio of 1.09. The firm has a market capitalization of $3.00 billion, a PE ratio of -44.83 and a beta of 1.49. Q2 has a 52-week low of $21.21 and a 52-week high of $53.96. The firm’s 50 day simple moving average is $48.56 and its 200-day simple moving average is $41.50.

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

Insiders Place Their Bets

In other news, CFO David J. Mehok sold 5,806 shares of the company’s stock in a transaction dated Monday, March 4th. The stock was sold at an average price of $46.01, for a total transaction of $267,134.06. Following the completion of the transaction, the chief financial officer now directly owns 159,085 shares of the company’s stock, valued at approximately $7,319,500.85. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other news, CFO David J. Mehok sold 5,806 shares of the company’s stock in a transaction dated Monday, March 4th. The stock was sold at an average price of $46.01, for a total transaction of $267,134.06. Following the completion of the transaction, the chief financial officer now directly owns 159,085 shares of the company’s stock, valued at approximately $7,319,500.85. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO Matthew P. Flake sold 45,000 shares of the company’s stock in a transaction dated 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 transaction, the chief executive officer now directly owns 473,411 shares of the company’s stock, valued at $19,452,457.99. The disclosure for this sale can be found here. Insiders have sold a total of 336,313 shares of company stock worth $14,889,214 in the last quarter. 3.60% of the stock is owned by company insiders.

Institutional Trading of Q2

Large investors have recently made changes to their positions in the company. Natixis Advisors L.P. acquired a new stake in Q2 during the 1st quarter worth approximately $774,000. MetLife Investment Management LLC raised its stake in shares of Q2 by 54.1% during the 1st quarter. MetLife Investment Management LLC now owns 29,137 shares of the technology company’s stock worth $1,796,000 after buying an additional 10,226 shares in the last quarter. Rhumbline Advisers raised its stake in shares of Q2 by 3.6% during the 1st quarter. Rhumbline Advisers now owns 57,575 shares of the technology company’s stock worth $3,549,000 after buying an additional 1,997 shares in the last quarter. Raymond James Trust N.A. raised its stake in shares of Q2 by 25.7% during the 1st quarter. Raymond James Trust N.A. now owns 4,186 shares of the technology company’s stock worth $258,000 after buying an additional 855 shares in the last quarter. Finally, Dimensional Fund Advisors LP raised its stake in shares of Q2 by 39.9% during the 1st quarter. Dimensional Fund Advisors LP now owns 228,857 shares of the technology company’s stock worth $14,109,000 after buying an additional 65,252 shares in 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.