Q2 (NYSE:QTWO) Price Target Raised to $59.00 at The Goldman Sachs Group

Q2 (NYSE:QTWO) had its target price upped by The Goldman Sachs Group from $52.00 to $59.00 in a research note issued to investors on Thursday morning, Benzinga reports. They currently have a buy rating on the technology company’s stock.

Other equities analysts have also issued reports about the stock. Piper Sandler increased their price objective on shares of Q2 from $41.00 to $47.00 and gave the company a neutral rating in a report on Thursday, February 22nd. DA Davidson lifted their price objective on shares of Q2 from $48.00 to $58.00 and gave the company a buy rating in a report on Tuesday, February 27th. Robert W. Baird upped their target price on Q2 from $60.00 to $65.00 and gave the stock an outperform rating in a report on Thursday. Truist Financial reiterated a buy rating and issued a $65.00 price target (up previously from $60.00) on shares of Q2 in a research note on Thursday. Finally, Canaccord Genuity Group upped their price objective on Q2 from $40.00 to $55.00 and gave the company a buy rating in a research note on Friday, February 23rd. Four equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of Moderate Buy and an average price target of $55.33.

Q2 Stock Performance

Q2 stock traded up $0.78 during trading hours on Thursday, reaching $60.36. 1,212,357 shares of the company were exchanged, compared to its average volume of 623,325. The firm has a market cap of $3.63 billion, a price-to-earnings ratio of -44.71 and a beta of 1.47. 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 stock has a 50-day moving average of $50.79 and a 200 day moving average of $43.14.

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 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 5.88%. The company had revenue of $162.12 million during the quarter, compared to analysts’ expectations of $161.31 million. As a group, research analysts anticipate that Q2 will post -0.05 earnings per share for the current year.

Insider Buying and Selling at Q2

In other news, Director R. H. Seale sold 689 shares of the business’s stock in a transaction that occurred on Monday, March 11th. The stock was 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 owns 420,769 shares in the company, valued at $20,512,488.75. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. In other news, CEO Matthew P. Flake sold 45,000 shares of the company’s stock in a transaction 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 in the company, valued at approximately $19,769,643.36. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director R. H. Seale sold 689 shares of the firm’s stock in a transaction dated Monday, March 11th. The shares were sold at an average price of $48.75, for a total transaction of $33,588.75. Following the transaction, 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. Over the last ninety days, insiders sold 290,702 shares of company stock valued at $13,014,042. Corporate insiders own 3.60% of the company’s stock.

Institutional Investors Weigh In On Q2

A number of hedge funds have recently made changes to their positions in QTWO. RiverPark Advisors LLC raised its position in Q2 by 361.4% in the first quarter. RiverPark Advisors LLC now owns 6,146 shares of the technology company’s stock worth $323,000 after acquiring an additional 4,814 shares during the period. Chase Investment Counsel Corp purchased a new stake in shares of Q2 during the 1st quarter valued at approximately $2,363,000. Jennison Associates LLC grew its stake in Q2 by 14.6% in the 1st quarter. Jennison Associates LLC now owns 1,852,407 shares of the technology company’s stock valued at $97,363,000 after buying an additional 235,582 shares in the last quarter. Nordea Investment Management AB raised its holdings in Q2 by 45.2% during the 1st quarter. Nordea Investment Management AB now owns 64,826 shares of the technology company’s stock valued at $3,456,000 after acquiring an additional 20,195 shares during the period. Finally, Fidelis Capital Partners LLC purchased a new stake in shares of Q2 during the first quarter worth $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.