Q2 (NYSE:QTWO) Stock Price Expected to Rise, Citigroup Analyst Says

Q2 (NYSE:QTWO) had its price target upped by equities research analysts at Citigroup from $96.00 to $100.00 in a research note issued on Thursday,Benzinga reports. The firm presently has a “neutral” rating on the technology company’s stock. Citigroup’s target price would suggest a potential upside of 7.90% from the company’s previous close.

A number of other research analysts have also issued reports on the stock. Truist Financial restated a “buy” rating and set a $110.00 target price (up previously from $100.00) on shares of Q2 in a research report on Thursday. Piper Sandler raised their price objective on Q2 from $74.00 to $93.00 and gave the stock a “neutral” rating in a research note on Thursday, November 7th. Royal Bank of Canada upped their target price on Q2 from $76.00 to $105.00 and gave the company a “sector perform” rating in a research report on Thursday, November 7th. Morgan Stanley raised their price target on Q2 from $65.00 to $90.00 and gave the stock an “equal weight” rating in a research report on Thursday, November 7th. Finally, The Goldman Sachs Group increased their price objective on shares of Q2 from $86.00 to $103.00 and gave the stock a “buy” rating in a research note on Thursday, November 7th. Seven analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. Based on data from MarketBeat, Q2 presently has a consensus rating of “Moderate Buy” and an average price target of $101.40.

Q2 Stock Performance

Shares of Q2 stock traded up $0.66 during trading on Thursday, hitting $92.68. 697,162 shares of the stock were exchanged, compared to its average volume of 629,322. The company has a current ratio of 2.50, a quick ratio of 2.50 and a debt-to-equity ratio of 0.99. The company has a fifty day moving average price of $98.99 and a 200-day moving average price of $88.08. The stock has a market capitalization of $5.60 billion, a price-to-earnings ratio of -96.54 and a beta of 1.61. Q2 has a 1-year low of $41.23 and a 1-year high of $112.82.

Q2 (NYSE:QTWO) last announced its earnings results on Wednesday, February 12th. The technology company reported $0.18 EPS for the quarter, missing the consensus estimate of $0.48 by ($0.30). Q2 had a negative return on equity of 2.30% and a negative net margin of 8.40%. As a group, equities analysts predict that Q2 will post 0.08 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, Director James Offerdahl sold 548 shares of the stock in a transaction on Friday, November 22nd. The shares were sold at an average price of $104.95, for a total transaction of $57,512.60. Following the completion of the sale, the director now directly owns 18,241 shares in the company, valued at $1,914,392.95. This represents a 2.92 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, President Kirk L. Coleman sold 8,559 shares of the stock in a transaction dated Tuesday, December 10th. The stock was sold at an average price of $106.00, for a total value of $907,254.00. Following the sale, the president now owns 340,903 shares of the company’s stock, valued at approximately $36,135,718. The trade was a 2.45 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 28,836 shares of company stock valued at $3,061,035. 3.00% of the stock is currently owned by company insiders.

Institutional Trading of Q2

Several large investors have recently made changes to their positions in QTWO. Conestoga Capital Advisors LLC raised its stake in Q2 by 1.5% during the 3rd quarter. Conestoga Capital Advisors LLC now owns 2,308,194 shares of the technology company’s stock worth $184,125,000 after buying an additional 34,300 shares during the period. William Blair Investment Management LLC acquired a new position in shares of Q2 during the fourth quarter worth approximately $202,645,000. State Street Corp lifted its holdings in shares of Q2 by 0.3% in the 3rd quarter. State Street Corp now owns 1,668,767 shares of the technology company’s stock worth $133,118,000 after purchasing an additional 5,000 shares in the last quarter. Geode Capital Management LLC grew its position in Q2 by 2.7% in the 4th quarter. Geode Capital Management LLC now owns 1,389,181 shares of the technology company’s stock valued at $140,175,000 after purchasing an additional 36,025 shares during the period. Finally, Massachusetts Financial Services Co. MA increased its stake in Q2 by 107.9% during the 4th quarter. Massachusetts Financial Services Co. MA now owns 1,345,741 shares of the technology company’s stock valued at $135,449,000 after purchasing an additional 698,464 shares in the last quarter.

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.