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

Truist Financial reiterated their buy rating on shares of Q2 (NYSE:QTWO) in a research report report published on Thursday morning,Benzinga reports. They currently have a $110.00 target price on the technology company’s stock, up from their prior target price of $100.00.

Several other research analysts have also issued reports on the company. Royal Bank of Canada increased their target price on Q2 from $76.00 to $105.00 and gave the stock a “sector perform” rating in a research report on Thursday, November 7th. Morgan Stanley increased their price objective on Q2 from $65.00 to $90.00 and gave the stock an “equal weight” rating in a report on Thursday, November 7th. Stephens boosted their target price on shares of Q2 from $75.00 to $100.00 and gave the company an “overweight” rating in a report on Thursday, November 7th. The Goldman Sachs Group increased their price target 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. Finally, Robert W. Baird reissued a “neutral” rating and set a $99.00 price objective (up previously from $89.00) on shares of Q2 in a research note on Friday, January 10th. Seven equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. According to data from MarketBeat, Q2 presently has an average rating of “Moderate Buy” and an average price target of $102.13.

Q2 Trading Up 0.9 %

NYSE:QTWO opened at $92.82 on Thursday. 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 firm’s fifty day simple moving average is $98.99 and its 200 day simple moving average is $88.08. Q2 has a twelve month low of $41.23 and a twelve month high of $112.82.

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

Insider Buying and Selling

In other news, President Kirk L. Coleman sold 8,559 shares of the firm’s stock in a transaction dated Tuesday, December 10th. The shares were sold at an average price of $106.00, for a total transaction of $907,254.00. Following the sale, the president now owns 340,903 shares of the company’s stock, valued at $36,135,718. This trade represents a 2.45 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CRO Michael A. Volanoski sold 4,178 shares of Q2 stock in a transaction that occurred on Tuesday, December 10th. The stock was sold at an average price of $106.00, for a total transaction of $442,868.00. Following the completion of the sale, the executive now owns 223,494 shares of the company’s stock, valued at $23,690,364. This represents a 1.84 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 28,836 shares of company stock worth $3,061,035 in the last three months. Insiders own 3.00% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Conestoga Capital Advisors LLC grew its position in Q2 by 1.5% in the 3rd quarter. Conestoga Capital Advisors LLC now owns 2,308,194 shares of the technology company’s stock worth $184,125,000 after purchasing an additional 34,300 shares during the period. William Blair Investment Management LLC purchased a new position in shares of Q2 in the 4th quarter worth $202,645,000. State Street Corp grew its holdings in shares of Q2 by 0.3% in the third quarter. State Street Corp now owns 1,668,767 shares of the technology company’s stock worth $133,118,000 after acquiring an additional 5,000 shares during the period. Geode Capital Management LLC increased its position in Q2 by 2.7% during the fourth quarter. Geode Capital Management LLC now owns 1,389,181 shares of the technology company’s stock valued at $140,175,000 after acquiring an additional 36,025 shares during the last quarter. Finally, Massachusetts Financial Services Co. MA increased its position in Q2 by 107.9% during the fourth 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.

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.