Q2’s (QTWO) Equal Weight Rating Reaffirmed at Morgan Stanley

Q2 (NYSE:QTWO)‘s stock had its “equal weight” rating reaffirmed by stock analysts at Morgan Stanley in a research note issued on Thursday, Benzinga reports. They currently have a $50.00 price target on the technology company’s stock, up from their prior price target of $40.00. Morgan Stanley’s target price would suggest a potential downside of 13.96% from the company’s current price.

Several other equities analysts have also recently weighed in on QTWO. Needham & Company LLC raised their price objective on Q2 from $58.00 to $65.00 and gave the company a “buy” rating in a report on Thursday. The Goldman Sachs Group raised their price objective on shares of Q2 from $52.00 to $59.00 and gave the stock a “buy” rating in a research report on Thursday. DA Davidson lifted their price target 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. Canaccord Genuity Group boosted their target price on shares of Q2 from $40.00 to $55.00 and gave the stock a “buy” rating in a research note on Friday, February 23rd. Finally, Stifel Nicolaus boosted their target price on shares of Q2 from $48.00 to $60.00 and gave the stock a “buy” rating in a research note on Wednesday, April 24th. Four 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 presently has an average rating of “Moderate Buy” and an average price target of $53.93.

Q2 Price Performance

Shares of QTWO stock traded up $6.38 during mid-day trading on Thursday, hitting $58.11. 841,764 shares of the stock traded hands, compared to its average volume of 616,503. Q2 has a twelve month low of $21.21 and a twelve month high of $58.20. The firm has a market cap of $3.43 billion, a price-to-earnings ratio of -51.33 and a beta of 1.47. The company’s 50-day simple moving average is $50.26 and its 200-day simple moving average is $42.83. The company has a debt-to-equity ratio of 1.09, a quick ratio of 2.23 and a current ratio of 2.23.

Q2 (NYSE:QTWO) last issued its earnings results on Wednesday, February 21st. The technology company reported ($0.06) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.10) by $0.04. The business had revenue of $162.12 million for the quarter, compared to analysts’ expectations of $161.31 million. Q2 had a negative return on equity of 6.75% and a negative net margin of 10.47%. As a group, equities research analysts expect that Q2 will post -0.05 earnings per share for the current year.

Insider Buying and Selling

In related news, Director R. H. Seale sold 689 shares of the business’s stock in a transaction on Monday, March 11th. The shares were 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 of the company’s stock, valued at $20,512,488.75. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In related news, insider Kimberly Anne Rutledge sold 741 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 $37,124.10. Following the sale, the insider now owns 74,535 shares in the company, valued at approximately $3,734,203.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director R. H. Seale sold 689 shares of the company’s stock in a transaction dated 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 approximately $20,512,488.75. The disclosure for this sale can be found here. Insiders have sold a total of 337,639 shares of company stock valued at $14,994,784 over the last 90 days. 3.60% of the stock is owned by insiders.

Institutional Investors Weigh In On Q2

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Zurcher Kantonalbank Zurich Cantonalbank grew its position in Q2 by 29.0% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 9,439 shares of the technology company’s stock worth $305,000 after purchasing an additional 2,123 shares in the last quarter. Washington Capital Management Inc. bought a new stake in Q2 in the 3rd quarter worth about $526,000. Oak Ridge Investments LLC bought a new stake in Q2 in the 3rd quarter worth about $2,906,000. Jennison Associates LLC grew its position in Q2 by 147.4% in the 3rd quarter. Jennison Associates LLC now owns 1,225,286 shares of the technology company’s stock worth $39,540,000 after purchasing an additional 729,959 shares in the last quarter. Finally, Teacher Retirement System of Texas bought a new stake in Q2 in the 3rd quarter worth about $268,000.

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.