Q2 (NYSE:QTWO) Sets New 12-Month High Following Analyst Upgrade

Q2 Holdings, Inc. (NYSE:QTWO) shares reached a new 52-week high during trading on Thursday after BTIG Research raised their price target on the stock from $48.00 to $60.00. BTIG Research currently has a buy rating on the stock. Q2 traded as high as $56.71 and last traded at $55.13, with a volume of 126739 shares changing hands. The stock had previously closed at $51.73.

QTWO has been the topic of several other reports. Canaccord Genuity Group raised their target price on Q2 from $40.00 to $55.00 and gave the company a “buy” rating in a research report on Friday, February 23rd. DA Davidson increased their price target on Q2 from $48.00 to $58.00 and gave the company a “buy” rating in a research note on Tuesday, February 27th. Truist Financial reaffirmed a “buy” rating and set a $65.00 price target (up from $60.00) on shares of Q2 in a research note on Thursday. Royal Bank of Canada increased their price target on Q2 from $46.00 to $60.00 and gave the company a “sector perform” rating in a research note on Thursday. Finally, The Goldman Sachs Group increased their price target on Q2 from $52.00 to $59.00 and gave the company a “buy” rating in a research note on Thursday. Four research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. According to data from MarketBeat, Q2 currently has an average rating of “Moderate Buy” and a consensus price target of $53.93.

Insider Transactions at Q2

In other news, CEO Matthew P. Flake sold 45,000 shares of the firm’s stock in a transaction on Wednesday, February 7th. The stock was sold at an average price of $41.76, for a total transaction of $1,879,200.00. Following the completion of the sale, the chief executive officer now directly owns 473,411 shares of the company’s stock, valued at approximately $19,769,643.36. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other news, Director R. H. Seale sold 689 shares of the firm’s stock in a transaction on Monday, March 11th. The stock was sold at an average price of $48.75, for a total value of $33,588.75. Following the completion of the sale, the director now owns 420,769 shares of the company’s stock, valued at $20,512,488.75. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Matthew P. Flake sold 45,000 shares of the firm’s stock in a transaction on Wednesday, February 7th. The stock was sold at an average price of $41.76, for a total value of $1,879,200.00. Following the completion of the sale, the chief executive officer now directly owns 473,411 shares of the company’s stock, valued at approximately $19,769,643.36. The disclosure for this sale can be found here. Insiders sold a total of 290,702 shares of company stock valued at $13,014,042 in the last three months. 3.60% of the stock is currently owned by corporate insiders.

Institutional Trading of Q2

Several hedge funds and other institutional investors have recently modified their holdings of the company. Chase Investment Counsel Corp purchased a new stake in shares of Q2 during the first quarter worth $2,363,000. Jennison Associates LLC raised its holdings in shares of Q2 by 14.6% during the first 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 in the last quarter. Nordea Investment Management AB raised its holdings in shares of Q2 by 45.2% during the first quarter. Nordea Investment Management AB now owns 64,826 shares of the technology company’s stock worth $3,456,000 after acquiring an additional 20,195 shares in the last quarter. Fidelis Capital Partners LLC purchased a new stake in shares of Q2 during the first quarter worth $50,000. Finally, BNP Paribas Financial Markets raised its holdings in shares of Q2 by 16.2% during the first quarter. BNP Paribas Financial Markets now owns 53,701 shares of the technology company’s stock worth $2,823,000 after acquiring an additional 7,503 shares in the last quarter.

Q2 Trading Up 15.2 %

The company has a fifty day simple moving average of $50.54 and a two-hundred day simple moving average of $42.95. The company has a debt-to-equity ratio of 1.09, a current ratio of 2.23 and a quick ratio of 2.23. The company has a market capitalization of $3.52 billion, a P/E ratio of -52.73 and a beta of 1.47.

Q2 (NYSE:QTWO) last posted its earnings results on Wednesday, February 21st. The technology company reported ($0.06) earnings per share for the quarter, beating the consensus estimate of ($0.10) by $0.04. Q2 had a negative return on equity of 6.75% and a negative net margin of 10.47%. The company had revenue of $162.12 million for the quarter, compared to analyst estimates of $161.31 million. On average, analysts forecast 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.