Q2 (NYSE:QTWO) Given New $60.00 Price Target at BTIG Research

Q2 (NYSE:QTWO) had its price target boosted by BTIG Research from $48.00 to $60.00 in a research note released on Thursday morning, Benzinga reports. BTIG Research currently has a buy rating on the technology company’s stock.

Other analysts have also issued reports about the stock. Needham & Company LLC lifted their target price on shares of Q2 from $58.00 to $65.00 and gave the company a buy rating in a research report on Thursday. Robert W. Baird lifted their target price on shares of Q2 from $60.00 to $65.00 and gave the company an outperform rating in a research report on Thursday. The Goldman Sachs Group lifted their target price on shares of Q2 from $52.00 to $59.00 and gave the company a buy rating in a research report on Thursday. DA Davidson lifted their target price on shares of Q2 from $48.00 to $58.00 and gave the company a buy rating in a research report on Tuesday, February 27th. Finally, Royal Bank of Canada lifted 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 equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Q2 currently has an average rating of Moderate Buy and an average target price of $55.33.

Q2 Stock Performance

NYSE QTWO traded up $0.78 during midday trading on Thursday, hitting $60.36. The company had a trading volume of 1,212,357 shares, compared to its average volume of 623,325. The company has a quick ratio of 2.23, a current ratio of 2.38 and a debt-to-equity ratio of 1.06. The stock has a market cap of $3.63 billion, a price-to-earnings ratio of -44.71 and a beta of 1.47. The firm has a fifty day simple moving average of $50.79 and a two-hundred day simple moving average of $43.14. Q2 has a fifty-two week low of $21.21 and a fifty-two week high of $60.98.

Q2 (NYSE:QTWO) last posted its quarterly 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 company had revenue of $162.12 million for the quarter, compared to analyst estimates of $161.31 million. Q2 had a negative net margin of 12.35% and a negative return on equity of 5.88%. Equities analysts forecast that Q2 will post -0.05 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, Director R. H. Seale sold 689 shares of the business’s stock in a transaction that occurred on Monday, March 11th. The shares were sold at an average price of $48.75, for a total transaction of $33,588.75. Following the completion of the sale, the director now directly owns 420,769 shares of the company’s stock, valued at $20,512,488.75. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In other Q2 news, CEO Matthew P. Flake sold 45,000 shares of the company’s stock in a transaction that occurred on Wednesday, February 7th. The shares were sold at an average price of $41.76, for a total value of $1,879,200.00. Following the completion of the sale, the chief executive officer now owns 473,411 shares of the company’s stock, valued at $19,769,643.36. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director R. H. Seale sold 689 shares of the company’s stock in a transaction that occurred on Monday, March 11th. The shares were sold at an average price of $48.75, for a total transaction of $33,588.75. Following the completion of the sale, the director now directly owns 420,769 shares of the company’s stock, valued at approximately $20,512,488.75. The disclosure for this sale can be found here. Insiders sold a total of 290,702 shares of company stock valued at $13,014,042 over the last ninety days. Insiders own 3.60% of the company’s stock.

Institutional Investors Weigh In On Q2

Several large investors have recently bought and sold shares of QTWO. Nordea Investment Management AB acquired a new position in shares of Q2 in the fourth quarter valued at approximately $1,938,000. Vanguard Group Inc. boosted its holdings in shares of Q2 by 7.5% in the third quarter. Vanguard Group Inc. now owns 6,952,848 shares of the technology company’s stock valued at $224,368,000 after buying an additional 487,111 shares during the period. Jennison Associates LLC boosted its holdings in Q2 by 32.0% during the fourth quarter. Jennison Associates LLC now owns 1,616,825 shares of the technology company’s stock worth $70,186,000 after purchasing an additional 391,539 shares during the last quarter. Deutsche Bank AG boosted its holdings in Q2 by 13.4% during the third 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 acquired a new position in Q2 during the third quarter worth $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.