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

Truist Financial restated their buy rating on shares of Q2 (NYSE:QTWO) in a research note published on Thursday, Benzinga reports. They currently have a $65.00 price objective on the technology company’s stock, up from their previous price objective of $60.00.

A number of other research analysts also recently issued reports on QTWO. The Goldman Sachs Group lifted their price target on Q2 from $39.00 to $51.00 and gave the company a buy rating in a report on Tuesday, January 23rd. DA Davidson boosted their price objective on Q2 from $48.00 to $58.00 and gave the company a buy rating in a research report on Tuesday, February 27th. Piper Sandler boosted their price objective on Q2 from $41.00 to $47.00 and gave the stock a neutral rating in a research note on Thursday, February 22nd. Needham & Company LLC upped 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 Thursday. Finally, Robert W. Baird boosted their target price on Q2 from $60.00 to $65.00 and gave the stock an outperform rating in a report on Thursday. Four investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. Based on data from MarketBeat, the company has an average rating of Moderate Buy and an average target price of $55.33.

Q2 Stock Performance

Shares of NYSE QTWO traded up $0.25 during trading on Thursday, reaching $60.61. 358,076 shares of the company traded hands, compared to its average volume of 636,071. The stock has a market capitalization of $3.64 billion, a PE ratio of -44.71 and a beta of 1.47. Q2 has a 52-week low of $21.94 and a 52-week high of $61.84. The company has a quick ratio of 2.38, a current ratio of 2.38 and a debt-to-equity ratio of 1.06. The firm has a 50 day simple moving average of $50.79 and a 200-day simple moving average of $43.29.

Q2 (NYSE:QTWO) last released its earnings results on Wednesday, February 21st. The technology company reported ($0.06) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.10) by $0.04. The firm had revenue of $162.12 million during the quarter, compared to analysts’ expectations of $161.31 million. Q2 had a negative return on equity of 5.88% and a negative net margin of 12.35%. Equities research analysts anticipate that Q2 will post -0.02 earnings per share for the current year.

Insider Transactions at Q2

In other news, Director R. H. Seale sold 9,000 shares of the company’s stock in a transaction dated Friday, April 19th. The stock was sold at an average price of $50.10, for a total transaction of $450,900.00. Following the sale, the director now directly owns 363,754 shares in the company, valued at $18,224,075.40. The sale was disclosed in a document filed with the SEC, which is available at this link. In other Q2 news, CFO David J. Mehok sold 2,453 shares of the company’s stock in a transaction dated Wednesday, March 13th. The shares were sold at an average price of $50.10, for a total value of $122,895.30. Following the sale, the chief financial officer now owns 151,846 shares in the company, valued at $7,607,484.60. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director R. H. Seale sold 9,000 shares of the company’s stock in a transaction on Friday, April 19th. The shares were sold at an average price of $50.10, for a total value of $450,900.00. Following the sale, the director now owns 363,754 shares of the company’s stock, valued at approximately $18,224,075.40. The disclosure for this sale can be found here. Insiders have sold 245,702 shares of company stock worth $11,164,992 in the last ninety days. Company insiders own 3.60% of the company’s stock.

Institutional Investors Weigh In On Q2

Several institutional investors have recently modified their holdings of the stock. RiverPark Advisors LLC increased its stake in shares of Q2 by 361.4% in the 1st quarter. RiverPark Advisors LLC now owns 6,146 shares of the technology company’s stock valued at $323,000 after purchasing an additional 4,814 shares in the last quarter. Chase Investment Counsel Corp acquired a new stake in shares of Q2 in the first quarter valued at approximately $2,363,000. Jennison Associates LLC increased its holdings in shares of Q2 by 14.6% in the first quarter. Jennison Associates LLC now owns 1,852,407 shares of the technology company’s stock valued at $97,363,000 after purchasing an additional 235,582 shares during the last quarter. Nordea Investment Management AB increased its holdings in shares of Q2 by 45.2% in the first quarter. Nordea Investment Management AB now owns 64,826 shares of the technology company’s stock valued at $3,456,000 after purchasing an additional 20,195 shares during the last quarter. Finally, Fidelis Capital Partners LLC acquired a new stake in shares of Q2 in the first quarter valued at approximately $50,000.

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.