Q2 (NYSE:QTWO) Earns “Equal Weight” Rating from Morgan Stanley

Morgan Stanley restated their equal weight rating on shares of Q2 (NYSE:QTWO) in a research report released on Thursday morning, Benzinga reports. The firm currently has a $50.00 target price on the technology company’s stock, up from their prior target price of $40.00.

A number of other analysts have also recently weighed in on the company. Truist Financial restated a buy rating and issued a $65.00 price target (up from $60.00) on shares of Q2 in a research note on Thursday. Canaccord Genuity Group upped their price target on Q2 from $40.00 to $55.00 and gave the company a buy rating in a report on Friday, February 23rd. Needham & Company LLC raised their price objective on shares of Q2 from $58.00 to $65.00 and gave the stock a buy rating in a report on Thursday. DA Davidson boosted their price objective on shares of Q2 from $48.00 to $58.00 and gave the stock a buy rating in a research report on Tuesday, February 27th. Finally, Royal Bank of Canada increased their target price on shares of Q2 from $46.00 to $60.00 and gave the company a sector perform rating in a research report on Thursday. Four research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. According to MarketBeat, the company currently has an average rating of Moderate Buy and an average target price of $55.33.

Q2 Price Performance

QTWO opened at $60.36 on Thursday. The stock’s 50-day moving average price is $50.79 and its 200 day moving average price is $43.21. The company has a current ratio of 2.38, a quick ratio of 2.23 and a debt-to-equity ratio of 1.06. Q2 has a 12-month low of $21.21 and a 12-month high of $60.98. The firm has a market cap of $3.63 billion, a price-to-earnings ratio of -44.71 and a beta of 1.47.

Q2 (NYSE:QTWO) last announced its quarterly earnings data on Wednesday, February 21st. The technology company reported ($0.06) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.10) by $0.04. Q2 had a negative return on equity of 5.88% and a negative net margin of 12.35%. The business had revenue of $162.12 million during the quarter, compared to analysts’ expectations of $161.31 million. As a group, sell-side analysts expect that Q2 will post -0.02 earnings per share for the current year.

Insider Activity at Q2

In related news, Director R. H. Seale sold 689 shares of Q2 stock in a transaction that occurred on Monday, March 11th. The stock was 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 transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In related news, CRO Michael A. Volanoski sold 2,369 shares of the firm’s stock in a transaction that occurred on Wednesday, March 13th. The stock was sold at an average price of $50.10, for a total value of $118,686.90. Following the completion of the transaction, the executive now directly owns 174,024 shares of the company’s stock, valued at approximately $8,718,602.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director R. H. Seale sold 689 shares of the business’s stock in a transaction on Monday, March 11th. The stock was sold at an average price of $48.75, for a total value of $33,588.75. Following the sale, the director now owns 420,769 shares in the company, valued at $20,512,488.75. The disclosure for this sale can be found here. Insiders sold a total of 290,702 shares of company stock worth $13,014,042 over the last 90 days. Company insiders own 3.60% of the company’s stock.

Institutional Investors Weigh In On Q2

Large investors have recently added to or reduced their stakes in the business. Nordea Investment Management AB acquired a new position in shares of Q2 in the fourth quarter worth $1,938,000. Vanguard Group Inc. raised 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 valued at $224,368,000 after purchasing an additional 487,111 shares during the last quarter. Jennison Associates LLC lifted its holdings in Q2 by 32.0% in the 4th quarter. Jennison Associates LLC now owns 1,616,825 shares of the technology company’s stock valued at $70,186,000 after purchasing an additional 391,539 shares in the last quarter. Deutsche Bank AG boosted its stake in shares of Q2 by 13.4% during the 3rd quarter. Deutsche Bank AG now owns 29,559 shares of the technology company’s stock worth $954,000 after purchasing an additional 3,496 shares during the last quarter. Finally, Lisanti Capital Growth LLC purchased a new stake in shares of Q2 during the third quarter worth about $5,534,000.

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.