Q2 (NYSE:QTWO) Rating Reiterated by Truist Financial

Q2 (NYSE:QTWO)‘s stock had its “buy” rating restated by investment analysts at Truist Financial in a research report issued on Monday, Benzinga reports. They presently have a $68.00 price objective on the technology company’s stock. Truist Financial’s price objective would suggest a potential upside of 11.71% from the company’s previous close.

Several other brokerages have also recently commented on QTWO. The Goldman Sachs Group raised their target price on shares of Q2 from $52.00 to $59.00 and gave the stock a “buy” rating in a report on Thursday, May 2nd. Stifel Nicolaus increased their price target on shares of Q2 from $48.00 to $60.00 and gave the stock a “buy” rating in a research report on Wednesday, April 24th. DA Davidson increased their price target on shares of Q2 from $58.00 to $65.00 and gave the stock a “buy” rating in a research report on Friday, May 3rd. Morgan Stanley reiterated an “equal weight” rating and set a $50.00 price target (up previously from $40.00) on shares of Q2 in a research report on Thursday, May 2nd. Finally, BTIG Research increased their price target on shares of Q2 from $48.00 to $60.00 and gave the stock a “buy” rating in a research report on Thursday, May 2nd. Four 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 stock currently has an average rating of “Moderate Buy” and an average target price of $55.53.

Q2 Stock Up 1.1 %

Q2 stock opened at $60.87 on Monday. The stock has a market cap of $3.66 billion, a P/E ratio of -45.09 and a beta of 1.55. The company has a quick ratio of 2.38, a current ratio of 2.38 and a debt-to-equity ratio of 1.06. Q2 has a twelve month low of $28.91 and a twelve month high of $64.17. The company’s 50-day moving average price is $59.68 and its two-hundred day moving average price is $50.94.

Q2 (NYSE:QTWO) last released its quarterly earnings results on Wednesday, May 1st. The technology company reported ($0.04) earnings per share for the quarter, beating the consensus estimate of ($0.05) by $0.01. The firm had revenue of $165.51 million for the quarter, compared to analysts’ expectations of $163.58 million. Q2 had a negative net margin of 12.35% and a negative return on equity of 5.88%. As a group, analysts expect that Q2 will post -0.05 EPS for the current year.

Insider Buying and Selling at Q2

In related news, Director R. H. Seale sold 9,000 shares of the business’s stock in a transaction on Friday, April 19th. The shares were sold at an average price of $50.10, for a total value 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 sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In related news, Director R. H. Seale sold 9,000 shares of the business’s stock in a transaction on Friday, April 19th. The shares were sold at an average price of $50.10, for a total value of $450,900.00. Following the transaction, the director now owns 363,754 shares in the company, valued at $18,224,075.40. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, President Kirk L. Coleman sold 3,537 shares of the business’s stock in a transaction on Monday, June 10th. The shares were sold at an average price of $61.26, for a total transaction of $216,676.62. Following the completion of the transaction, the president now owns 352,177 shares in the company, valued at approximately $21,574,363.02. The disclosure for this sale can be found here. Insiders have sold 91,684 shares of company stock worth $5,548,275 over the last quarter. Corporate insiders own 3.60% of the company’s stock.

Hedge Funds Weigh In On Q2

Several institutional investors have recently made changes to their positions in the stock. Vanguard Group Inc. raised its holdings in shares of Q2 by 7.5% during the third quarter. Vanguard Group Inc. now owns 6,952,848 shares of the technology company’s stock valued at $224,368,000 after purchasing an additional 487,111 shares during the period. Wasatch Advisors LP raised its holdings in shares of Q2 by 10.8% in the 1st quarter. Wasatch Advisors LP now owns 4,078,877 shares of the technology company’s stock worth $214,386,000 after acquiring an additional 398,871 shares during the last quarter. Brown Capital Management LLC raised its holdings in shares of Q2 by 0.4% in the 1st quarter. Brown Capital Management LLC now owns 2,565,647 shares of the technology company’s stock worth $134,850,000 after acquiring an additional 11,000 shares during the last quarter. Conestoga Capital Advisors LLC raised its holdings in shares of Q2 by 0.7% in the 1st quarter. Conestoga Capital Advisors LLC now owns 2,218,924 shares of the technology company’s stock worth $116,627,000 after acquiring an additional 15,510 shares during the last quarter. Finally, Jennison Associates LLC raised its holdings in shares of Q2 by 14.6% in the 1st quarter. Jennison Associates LLC now owns 1,852,407 shares of the technology company’s stock worth $97,363,000 after acquiring an additional 235,582 shares during 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.