Q2 (NYSE:QTWO) PT Raised to $65.00 at Needham & Company LLC

Q2 (NYSE:QTWO) had its price objective raised by stock analysts at Needham & Company LLC from $58.00 to $65.00 in a note issued to investors on Thursday, Benzinga reports. The brokerage currently has a “buy” rating on the technology company’s stock. Needham & Company LLC’s price target would indicate a potential upside of 7.69% from the stock’s previous close.

QTWO has been the subject of a number of other research reports. DA Davidson boosted 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. Canaccord Genuity Group boosted their price target on Q2 from $40.00 to $55.00 and gave the company a “buy” rating in a research note on Friday, February 23rd. Robert W. Baird raised their price objective on Q2 from $60.00 to $65.00 and gave the stock an “outperform” rating in a research note on Thursday. The Goldman Sachs Group upped their target price on Q2 from $39.00 to $51.00 and gave the company a “buy” rating in a research report on Tuesday, January 23rd. Finally, Truist Financial restated a “buy” rating and issued a $60.00 price target (up previously from $50.00) on shares of Q2 in a research report on Friday, April 19th. Four analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $55.33.

Q2 Stock Performance

Shares of Q2 stock traded up $0.78 on Thursday, hitting $60.36. The stock had a trading volume of 1,212,357 shares, compared to its average volume of 623,325. 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 company has a quick ratio of 2.23, a current ratio of 2.38 and a debt-to-equity ratio of 1.06. Q2 has a twelve month low of $21.21 and a twelve month high of $60.98. The business’s 50 day moving average is $50.79 and its two-hundred day moving average is $43.14.

Q2 (NYSE:QTWO) last issued its quarterly earnings data on Wednesday, February 21st. The technology company reported ($0.06) EPS for the quarter, beating analysts’ consensus estimates 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 firm had revenue of $162.12 million for the quarter, compared to analyst estimates of $161.31 million. Analysts forecast that Q2 will post -0.05 EPS for the current year.

Insider Transactions at Q2

In related news, President Kirk L. Coleman sold 2,904 shares of the company’s stock in a transaction that occurred on Monday, March 4th. The stock was sold at an average price of $46.01, for a total transaction of $133,613.04. Following the transaction, the president now directly owns 253,015 shares of the company’s stock, valued at approximately $11,641,220.15. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In related news, President Kirk L. Coleman sold 2,904 shares of Q2 stock in a transaction on Monday, March 4th. The shares were sold at an average price of $46.01, for a total value of $133,613.04. Following the completion of the sale, the president now owns 253,015 shares of the company’s stock, valued at approximately $11,641,220.15. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director R. H. Seale sold 689 shares of the company’s stock in a transaction 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 transaction, the director now owns 420,769 shares in the company, valued at approximately $20,512,488.75. The disclosure for this sale can be found here. Insiders have sold 290,702 shares of company stock valued at $13,014,042 in the last 90 days. 3.60% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Q2

A number of hedge funds have recently added to or reduced their stakes in the stock. Nordea Investment Management AB bought a new position in shares of Q2 in the fourth quarter valued at approximately $1,938,000. Vanguard Group Inc. lifted its stake in Q2 by 7.5% during the 3rd quarter. Vanguard Group Inc. now owns 6,952,848 shares of the technology company’s stock valued at $224,368,000 after acquiring an additional 487,111 shares in the last quarter. Jennison Associates LLC boosted its holdings in Q2 by 32.0% during the 4th quarter. Jennison Associates LLC now owns 1,616,825 shares of the technology company’s stock worth $70,186,000 after acquiring an additional 391,539 shares during the last quarter. Deutsche Bank AG lifted its position in shares of Q2 by 13.4% during the third quarter. Deutsche Bank AG now owns 29,559 shares of the technology company’s stock valued at $954,000 after purchasing an additional 3,496 shares in the last quarter. Finally, Lisanti Capital Growth LLC bought a new position in shares of Q2 during the 3rd quarter worth approximately $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.