Q2 (NYSE:QTWO) Reaches New 1-Year High on Analyst Upgrade

Q2 Holdings, Inc. (NYSE:QTWO)’s stock price hit a new 52-week high during mid-day trading on Wednesday after Stifel Nicolaus raised their price target on the stock from $48.00 to $60.00. Stifel Nicolaus currently has a buy rating on the stock. Q2 traded as high as $54.50 and last traded at $53.83, with a volume of 43765 shares traded. The stock had previously closed at $53.39.

Several other equities analysts also recently commented on the stock. Needham & Company LLC increased their target price on shares of Q2 from $50.00 to $58.00 and gave the stock a “buy” rating in a research report on Thursday, February 22nd. The Goldman Sachs Group increased their target price on shares of Q2 from $39.00 to $51.00 and gave the stock a “buy” rating in a research report on Tuesday, January 23rd. Robert W. Baird increased their target price on shares of Q2 from $50.00 to $60.00 and gave the stock an “outperform” rating in a research report on Monday, March 18th. DA Davidson increased their target price on shares of Q2 from $48.00 to $58.00 and gave the stock a “buy” rating in a research report on Tuesday, February 27th. Finally, Canaccord Genuity Group increased their target price on shares of Q2 from $40.00 to $55.00 and gave the stock a “buy” rating in a research report on Friday, February 23rd. Four investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. Based on data from MarketBeat.com, Q2 has an average rating of “Moderate Buy” and an average target price of $48.20.

Insider Activity

In related news, CFO David J. Mehok sold 5,806 shares of the stock in a transaction dated Monday, March 4th. The shares were sold at an average price of $46.01, for a total value of $267,134.06. Following the completion of the sale, the chief financial officer now owns 159,085 shares in the company, valued at $7,319,500.85. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. In related news, CFO David J. Mehok sold 2,453 shares of the stock in a transaction dated Wednesday, March 13th. The shares were sold at an average price of $50.10, for a total value of $122,895.30. Following the completion of the sale, the chief financial officer now owns 151,846 shares in the company, valued at $7,607,484.60. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, CFO David J. Mehok sold 5,806 shares of the stock in a transaction dated Monday, March 4th. The shares were sold at an average price of $46.01, for a total transaction of $267,134.06. Following the completion of the sale, the chief financial officer now owns 159,085 shares of the company’s stock, valued at approximately $7,319,500.85. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 337,639 shares of company stock valued at $14,994,784. 3.60% of the stock is owned by insiders.

Institutional Investors Weigh In On Q2

Several hedge funds have recently made changes to their positions in the stock. Vanguard Group Inc. lifted its stake in Q2 by 7.5% during the third quarter. Vanguard Group Inc. now owns 6,952,848 shares of the technology company’s stock worth $224,368,000 after purchasing an additional 487,111 shares during the period. Wasatch Advisors LP raised its stake in shares of Q2 by 10.8% in the first quarter. Wasatch Advisors LP now owns 4,078,877 shares of the technology company’s stock valued at $214,386,000 after acquiring an additional 398,871 shares during the last quarter. Conestoga Capital Advisors LLC raised its stake in shares of Q2 by 13.2% in the fourth quarter. Conestoga Capital Advisors LLC now owns 2,203,414 shares of the technology company’s stock valued at $95,650,000 after acquiring an additional 256,802 shares during the last quarter. North Reef Capital Management LP raised its stake in shares of Q2 by 21.2% in the third quarter. North Reef Capital Management LP now owns 2,070,000 shares of the technology company’s stock valued at $66,799,000 after acquiring an additional 362,227 shares during the last quarter. Finally, Jennison Associates LLC increased its holdings in shares of Q2 by 32.0% in the fourth quarter. Jennison Associates LLC now owns 1,616,825 shares of the technology company’s stock valued at $70,186,000 after purchasing an additional 391,539 shares in the last quarter.

Q2 Trading Up 0.7 %

The company has a quick ratio of 2.23, a current ratio of 2.23 and a debt-to-equity ratio of 1.09. The firm has a market cap of $3.18 billion, a price-to-earnings ratio of -47.57 and a beta of 1.49. The business’s fifty day moving average is $49.29 and its two-hundred day moving average is $42.15.

Q2 (NYSE:QTWO) last issued its quarterly earnings results on Wednesday, February 21st. The technology company reported ($0.06) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.10) by $0.04. The business had revenue of $162.12 million during the quarter, compared to analyst estimates of $161.31 million. Q2 had a negative net margin of 10.47% and a negative return on equity of 6.75%. Equities analysts anticipate that Q2 Holdings, Inc. will post -0.05 earnings per share for the current fiscal year.

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.