Truist Financial Reiterates Buy Rating for Q2 (NYSE:QTWO)

Q2 (NYSE:QTWO)‘s stock had its “buy” rating reissued by research analysts at Truist Financial in a research report issued to clients and investors on Thursday, Benzinga reports. They presently have a $65.00 price target on the technology company’s stock, up from their prior price target of $60.00. Truist Financial’s price objective points to a potential upside of 7.69% from the company’s previous close.

Other equities research analysts have also issued research reports about the company. DA Davidson boosted their target price on Q2 from $48.00 to $58.00 and gave the company a “buy” rating in a research note on Tuesday, February 27th. Robert W. Baird raised their target price on shares of Q2 from $60.00 to $65.00 and gave the stock an “outperform” rating in a report on Thursday. The Goldman Sachs Group lifted their target price on shares of Q2 from $39.00 to $51.00 and gave the stock a “buy” rating in a research note on Tuesday, January 23rd. Needham & Company LLC increased their price target on shares of Q2 from $58.00 to $65.00 and gave the company a “buy” rating in a research report on Thursday. Finally, Stifel Nicolaus boosted their price objective on shares of Q2 from $48.00 to $60.00 and gave the company a “buy” rating in a research report on Wednesday, April 24th. Four analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. According to MarketBeat, Q2 has an average rating of “Moderate Buy” and a consensus target price of $55.33.

Q2 Price Performance

QTWO traded up $0.78 during midday trading on Thursday, hitting $60.36. The stock had a trading volume of 1,212,357 shares, compared to its average volume of 623,325. Q2 has a 1 year low of $21.21 and a 1 year high of $60.98. The company has a debt-to-equity ratio of 1.06, a quick ratio of 2.23 and a current ratio of 2.38. The business has a fifty day moving average of $50.79 and a 200 day moving average of $43.14. The company has a market cap of $3.63 billion, a P/E ratio of -44.71 and a beta of 1.47.

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. 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%. As a group, equities analysts forecast that Q2 will post -0.05 earnings per share for the current fiscal year.

Insider Transactions at Q2

In other Q2 news, Director R. H. Seale sold 9,000 shares of the firm’s stock in a transaction that occurred on Friday, April 19th. The shares were sold at an average price of $50.10, for a total transaction of $450,900.00. Following the completion of the transaction, the director now owns 363,754 shares of the company’s stock, valued at $18,224,075.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, CEO Matthew P. Flake sold 45,000 shares of the company’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 transaction, the chief executive officer now owns 473,411 shares in the company, valued at approximately $19,769,643.36. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director R. H. Seale sold 9,000 shares of the firm’s stock in a transaction dated Friday, April 19th. The shares were sold at an average price of $50.10, for a total transaction of $450,900.00. Following the sale, the director now owns 363,754 shares of the company’s stock, valued at $18,224,075.40. 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 three months. 3.60% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the company. Zurcher Kantonalbank Zurich Cantonalbank lifted 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 valued at $305,000 after acquiring an additional 2,123 shares in the last quarter. Washington Capital Management Inc. bought a new position in shares of Q2 during the third quarter valued at $526,000. Oak Ridge Investments LLC purchased a new stake in shares of Q2 during the third quarter valued at $2,906,000. Jennison Associates LLC increased its holdings 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 buying an additional 729,959 shares in the last quarter. Finally, Teacher Retirement System of Texas purchased a new position in Q2 in the 3rd quarter worth about $268,000.

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.