DA Davidson Raises Q2 (NYSE:QTWO) Price Target to $65.00

Q2 (NYSE:QTWO) had its price target raised by equities research analysts at DA Davidson from $58.00 to $65.00 in a report released on Friday, Benzinga reports. The firm presently has a “buy” rating on the technology company’s stock. DA Davidson’s price objective would indicate a potential upside of 7.69% from the company’s current price.

Other equities analysts also recently issued reports about the stock. Needham & Company LLC boosted their target price on shares of Q2 from $58.00 to $65.00 and gave the stock a “buy” rating in a report on Thursday. BTIG Research boosted their target price on shares of Q2 from $48.00 to $60.00 and gave the company a “buy” rating in a research report on Thursday. Canaccord Genuity Group upped 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. Stifel Nicolaus upped their price objective on shares of Q2 from $48.00 to $60.00 and gave the stock a “buy” rating in a research report on Wednesday, April 24th. Finally, Piper Sandler increased their target price on shares of Q2 from $47.00 to $61.00 and gave the stock a “neutral” rating in a report on Friday. Four research analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $55.33.

Q2 Stock Up 1.3 %

Shares of NYSE QTWO traded up $0.78 during midday trading on Friday, reaching $60.36. The company’s stock had a trading volume of 1,212,294 shares, compared to its average volume of 639,783. The company has a current ratio of 2.23, a quick ratio of 2.23 and a debt-to-equity ratio of 1.09. Q2 has a fifty-two week low of $21.21 and a fifty-two week high of $60.98. The stock has a market capitalization of $3.57 billion, a price-to-earnings ratio of -44.71 and a beta of 1.47. The stock has a 50 day simple moving average of $50.79 and a 200-day simple moving average of $43.14.

Q2 (NYSE:QTWO) last posted its quarterly earnings data on Wednesday, February 21st. The technology company reported ($0.06) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.10) by $0.04. Q2 had a negative net margin of 12.35% and a negative return on equity of 5.95%. The company had revenue of $162.12 million for the quarter, compared to the consensus estimate of $161.31 million. Equities research analysts predict that Q2 will post -0.05 earnings per share for the current year.

Insider Activity

In other news, CEO Matthew P. Flake sold 45,000 shares of the firm’s stock in a transaction on Monday, February 5th. The stock was 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 directly owns 473,411 shares in the company, valued at $19,452,457.99. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, CEO Matthew P. Flake sold 45,000 shares of the stock in a transaction on Monday, February 5th. The stock was sold at an average price of $41.09, for a total transaction of $1,849,050.00. Following the sale, the chief executive officer now directly owns 473,411 shares of the company’s stock, valued at $19,452,457.99. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director R. H. Seale sold 689 shares of the stock in a transaction on Monday, March 11th. The shares were sold at an average price of $48.75, for a total value of $33,588.75. Following the sale, the director now directly owns 420,769 shares in the company, valued at $20,512,488.75. The disclosure for this sale can be found here. Insiders sold 290,702 shares of company stock worth $13,014,042 over the last three months. 3.60% of the stock is currently owned by corporate insiders.

Institutional Trading of Q2

A number of large investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. increased its stake in 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 acquiring an additional 487,111 shares during the last quarter. Wasatch Advisors LP raised its position in shares of Q2 by 10.8% in the 1st 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 in the last quarter. Conestoga Capital Advisors LLC raised its position in shares of Q2 by 0.7% in the 1st quarter. Conestoga Capital Advisors LLC now owns 2,218,924 shares of the technology company’s stock worth $116,627,000 after acquiring an additional 15,510 shares in the last quarter. North Reef Capital Management LP raised its position in shares of Q2 by 21.2% in the 3rd quarter. North Reef Capital Management LP now owns 2,070,000 shares of the technology company’s stock worth $66,799,000 after acquiring an additional 362,227 shares in the last quarter. Finally, Jennison Associates LLC raised its position in shares of Q2 by 14.6% in the 1st quarter. Jennison Associates LLC now owns 1,852,407 shares of the technology company’s stock worth $97,363,000 after acquiring an additional 235,582 shares in 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.