Q2 (NYSE:QTWO) Reaches New 12-Month High on Analyst Upgrade

Q2 Holdings, Inc. (NYSE:QTWO)’s stock price reached a new 52-week high on Wednesday after Stifel Nicolaus raised their price target on the stock from $48.00 to $60.00. Stifel Nicolaus currently has a buy rating on the stock. Q2 traded as high as $54.50 and last traded at $53.83, with a volume of 43765 shares trading hands. The stock had previously closed at $53.39.

QTWO has been the topic of several other reports. Robert W. Baird upped their price target on Q2 from $50.00 to $60.00 and gave the company an “outperform” rating in a research report on Monday, March 18th. Canaccord Genuity Group boosted their price objective on shares of Q2 from $40.00 to $55.00 and gave the company a “buy” rating in a research report on Friday, February 23rd. Needham & Company LLC boosted their price objective on shares of Q2 from $50.00 to $58.00 and gave the company a “buy” rating in a research report on Thursday, February 22nd. TheStreet raised shares of Q2 from a “d+” rating to a “c-” rating in a research report on Friday, December 29th. Finally, Piper Sandler lifted their price objective on Q2 from $41.00 to $47.00 and gave the company a “neutral” rating in a research report on Thursday, February 22nd. Four analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. Based on data from MarketBeat, Q2 presently has a consensus rating of “Moderate Buy” and an average price target of $48.20.

Insiders Place Their Bets

In other Q2 news, CEO Matthew P. Flake sold 45,000 shares of the business’s stock in a transaction on Monday, February 5th. The shares were sold at an average price of $41.09, for a total transaction of $1,849,050.00. Following the completion of the transaction, the chief executive officer now owns 473,411 shares of the company’s stock, valued at approximately $19,452,457.99. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other Q2 news, CEO Matthew P. Flake sold 45,000 shares of Q2 stock in a transaction that occurred on 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 approximately $19,452,457.99. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director R. H. Seale sold 9,000 shares of the firm’s stock in a transaction on 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 owns 363,754 shares in the company, valued at $18,224,075.40. The disclosure for this sale can be found here. Insiders sold 337,639 shares of company stock valued at $14,994,784 over the last 90 days. 3.60% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Q2

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Counterpoint Mutual Funds LLC acquired a new position in shares of Q2 in the 3rd quarter worth approximately $97,000. Coronation Fund Managers Ltd. increased its holdings in shares of Q2 by 9.1% during the third quarter. Coronation Fund Managers Ltd. now owns 395,778 shares of the technology company’s stock worth $12,772,000 after buying an additional 33,076 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank grew its position in Q2 by 29.0% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 9,439 shares of the technology company’s stock worth $305,000 after acquiring an additional 2,123 shares during the last quarter. Washington Capital Management Inc. bought a new position in Q2 in the 3rd quarter valued at $526,000. Finally, Oak Ridge Investments LLC bought a new stake in shares of Q2 during the third quarter worth $2,906,000.

Q2 Stock Performance

The stock has a 50 day moving average price of $49.09 and a two-hundred day moving average price of $42.06. 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 capitalization of $3.17 billion, a price-to-earnings ratio of -47.25 and a beta of 1.49.

Q2 (NYSE:QTWO) last released its quarterly earnings results on Wednesday, February 21st. The technology company reported ($0.06) EPS for the quarter, beating the consensus estimate of ($0.10) by $0.04. Q2 had a negative net margin of 10.47% and a negative return on equity of 6.75%. The business had revenue of $162.12 million for the quarter, compared to analysts’ expectations of $161.31 million. On average, analysts predict that Q2 Holdings, Inc. will post -0.05 EPS for the current fiscal year.

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.