Q2 (NYSE:QTWO) Given New $65.00 Price Target at DA Davidson

Q2 (NYSE:QTWO) had its target price upped by DA Davidson from $58.00 to $65.00 in a research note published on Friday morning, Benzinga reports. The brokerage currently has a buy rating on the technology company’s stock.

Several other brokerages have also recently weighed in on QTWO. Morgan Stanley restated an equal weight rating and issued a $50.00 price target (up previously from $40.00) on shares of Q2 in a research report on Thursday. Piper Sandler lifted their price target on Q2 from $47.00 to $61.00 and gave the stock a neutral rating in a research report on Friday. Truist Financial reissued a buy rating and set a $65.00 price objective (up from $60.00) on shares of Q2 in a research note on Thursday. Canaccord Genuity Group lifted their target price on Q2 from $40.00 to $55.00 and gave the stock a buy rating in a report on Friday, February 23rd. Finally, The Goldman Sachs Group boosted their target price on Q2 from $52.00 to $59.00 and gave the company a buy rating in a research report on Thursday. Four equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of Moderate Buy and a consensus target price of $55.33.

Q2 Price Performance

QTWO traded up $0.78 during trading on Friday, reaching $60.36. 1,212,357 shares of the company traded hands, compared to its average volume of 623,325. The company has a market cap of $3.63 billion, a P/E ratio of -44.71 and a beta of 1.47. The company has a debt-to-equity ratio of 1.06, a quick ratio of 2.23 and a current ratio of 2.38. Q2 has a 12-month low of $21.21 and a 12-month high of $60.98. The firm has a fifty day simple moving average of $50.79 and a 200 day simple moving average of $43.14.

Q2 (NYSE:QTWO) last posted its earnings results on Wednesday, February 21st. The technology company reported ($0.06) earnings per share for the quarter, beating the consensus estimate of ($0.10) by $0.04. The company had revenue of $162.12 million during the quarter, compared to analysts’ expectations of $161.31 million. Q2 had a negative net margin of 12.35% and a negative return on equity of 5.88%. On average, equities analysts forecast that Q2 will post -0.05 EPS for the current year.

Insider Activity at Q2

In related news, CEO Matthew P. Flake sold 45,000 shares of Q2 stock in a transaction that occurred on Wednesday, February 7th. The shares were sold at an average price of $41.76, for a total transaction of $1,879,200.00. Following the transaction, the chief executive officer now directly owns 473,411 shares of the company’s stock, valued at $19,769,643.36. The sale was disclosed in a filing with the SEC, which is accessible through this link. In other Q2 news, CEO Matthew P. Flake sold 45,000 shares of the business’s stock in a transaction dated 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 transaction, the chief executive officer now directly owns 473,411 shares in the company, valued at $19,769,643.36. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director R. H. Seale sold 689 shares of the 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 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 290,702 shares of company stock worth $13,014,042 over the last three months. 3.60% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Q2

Institutional investors have recently added to or reduced their stakes in the business. Natixis Advisors L.P. increased its holdings in shares of Q2 by 1.6% in the fourth quarter. Natixis Advisors L.P. now owns 16,188 shares of the technology company’s stock valued at $702,000 after purchasing an additional 259 shares during the period. Contravisory Investment Management Inc. raised its position in Q2 by 4.4% during the 1st quarter. Contravisory Investment Management Inc. now owns 7,164 shares of the technology company’s stock worth $377,000 after buying an additional 304 shares during the last quarter. Arizona State Retirement System boosted its holdings in shares of Q2 by 2.2% in the 3rd quarter. Arizona State Retirement System now owns 16,570 shares of the technology company’s stock valued at $535,000 after acquiring an additional 352 shares during the last quarter. Diversified Trust Co increased its stake in shares of Q2 by 2.7% in the fourth quarter. Diversified Trust Co now owns 13,670 shares of the technology company’s stock worth $593,000 after acquiring an additional 363 shares during the period. Finally, MCF Advisors LLC lifted its position in Q2 by 156.5% during the fourth quarter. MCF Advisors LLC now owns 613 shares of the technology company’s stock valued at $27,000 after purchasing an additional 374 shares during the period.

About Q2

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.