Q2 (NYSE:QTWO) Earns “Buy” Rating from Truist Financial

Q2 (NYSE:QTWO)‘s stock had its “buy” rating reissued by research analysts at Truist Financial in a note issued to investors on Thursday,Benzinga reports. They presently have a $110.00 price objective on the technology company’s stock, up from their prior price objective of $100.00. Truist Financial’s price target would suggest a potential upside of 12.91% from the stock’s previous close.

QTWO has been the subject of several other research reports. KeyCorp upgraded Q2 from a “sector weight” rating to an “overweight” rating and set a $126.00 target price for the company in a research report on Wednesday, December 18th. Citigroup downgraded shares of Q2 from a “buy” rating to a “neutral” rating and lifted their price objective for the stock from $72.00 to $90.00 in a report on Friday, October 18th. Piper Sandler increased their target price on shares of Q2 from $74.00 to $93.00 and gave the stock a “neutral” rating in a report on Thursday, November 7th. Needham & Company LLC lifted their price target on shares of Q2 from $120.00 to $125.00 and gave the company a “buy” rating in a report on Thursday. Finally, Stifel Nicolaus boosted their price objective on shares of Q2 from $100.00 to $115.00 and gave the company a “buy” rating in a research report on Wednesday, December 18th. Seven research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $99.07.

Q2 Stock Performance

Shares of QTWO opened at $97.42 on Thursday. The firm has a market cap of $5.88 billion, a price-to-earnings ratio of -101.48 and a beta of 1.61. The company has a quick ratio of 2.50, a current ratio of 2.50 and a debt-to-equity ratio of 0.99. The business’s 50 day moving average is $99.35 and its two-hundred day moving average is $88.05. Q2 has a 52-week low of $41.23 and a 52-week high of $112.82.

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

Insider Buying and Selling

In related news, President Kirk L. Coleman sold 10,428 shares of the firm’s stock in a transaction that occurred on Thursday, December 12th. The shares were sold at an average price of $106.42, for a total transaction of $1,109,747.76. Following the transaction, the president now owns 337,643 shares in the company, valued at $35,931,968.06. This trade represents a 3.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CRO Michael A. Volanoski sold 4,178 shares of the business’s stock in a transaction that occurred on Tuesday, December 10th. The stock was sold at an average price of $106.00, for a total value of $442,868.00. Following the sale, the executive now directly owns 223,494 shares in the company, valued at approximately $23,690,364. The trade was a 1.84 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 28,836 shares of company stock valued at $3,061,035 in the last three months. 3.00% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Q2

Several hedge funds have recently modified their holdings of QTWO. William Blair Investment Management LLC bought a new position in Q2 during the fourth quarter valued at about $202,645,000. Massachusetts Financial Services Co. MA lifted its holdings in Q2 by 107.9% in 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 acquiring an additional 698,464 shares during the last quarter. Arrowstreet Capital Limited Partnership boosted its position in shares of Q2 by 732.2% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 745,404 shares of the technology company’s stock valued at $75,025,000 after purchasing an additional 655,838 shares in the last quarter. Franklin Resources Inc. grew its stake in shares of Q2 by 893.5% in the 4th quarter. Franklin Resources Inc. now owns 471,523 shares of the technology company’s stock worth $47,459,000 after purchasing an additional 424,062 shares during the last quarter. Finally, Venturi Wealth Management LLC raised its holdings in shares of Q2 by 139.5% in the 3rd quarter. Venturi Wealth Management LLC now owns 608,721 shares of the technology company’s stock worth $48,558,000 after purchasing an additional 354,524 shares in the last quarter.

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.