BTIG Research Boosts Q2 (NYSE:QTWO) Price Target to $60.00

Q2 (NYSE:QTWO) had its price target hoisted by BTIG Research from $48.00 to $60.00 in a research note issued to investors on Thursday, Benzinga reports. The brokerage currently has a buy rating on the technology company’s stock.

Several other research firms also recently weighed in on QTWO. Royal Bank of Canada lifted their target price on Q2 from $46.00 to $60.00 and gave the company a sector perform rating in a research report on Thursday. Stifel Nicolaus increased their target price on shares of Q2 from $48.00 to $60.00 and gave the stock a buy rating in a report on Wednesday, April 24th. Piper Sandler lifted their price target on shares of Q2 from $41.00 to $47.00 and gave the company a neutral rating in a report on Thursday, February 22nd. Canaccord Genuity Group upped their price target 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. Finally, DA Davidson raised their price objective on shares of Q2 from $48.00 to $58.00 and gave the company a buy rating in a research report on Tuesday, February 27th. 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 company presently has an average rating of Moderate Buy and an average target price of $55.33.

Q2 Price Performance

Q2 stock opened at $60.36 on Thursday. Q2 has a 52-week low of $21.21 and a 52-week high of $60.98. The company has a debt-to-equity ratio of 1.06, a quick ratio of 2.38 and a current ratio of 2.38. The business has a 50-day simple moving average of $50.79 and a two-hundred day simple moving average of $43.29.

Q2 (NYSE:QTWO) last announced its earnings results on Wednesday, February 21st. The technology company reported ($0.06) EPS 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 analysts’ expectations of $161.31 million. Q2 had a negative net margin of 12.35% and a negative return on equity of 5.88%. On average, sell-side analysts predict that Q2 will post -0.02 earnings per share for the current year.

Insider Transactions at Q2

In related news, CEO Matthew P. Flake sold 45,000 shares of the stock in a transaction that occurred 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 transaction, the chief executive officer now directly owns 473,411 shares of the company’s stock, valued at $19,769,643.36. The sale was disclosed in a filing with the SEC, which is available through this link. In related news, CEO Matthew P. Flake sold 45,000 shares of the company’s stock in a transaction on Wednesday, February 7th. The shares were sold at an average price of $41.76, for a total transaction of $1,879,200.00. Following the sale, the chief executive officer now owns 473,411 shares of the company’s stock, valued at $19,769,643.36. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CFO David J. Mehok sold 5,806 shares of Q2 stock in a transaction on Monday, March 4th. The stock was sold at an average price of $46.01, for a total transaction of $267,134.06. Following the completion of the transaction, the chief financial officer now directly owns 159,085 shares of the company’s stock, valued at $7,319,500.85. The disclosure for this sale can be found here. Over the last three months, insiders have sold 245,702 shares of company stock valued at $11,164,992. 3.60% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Q2

Large investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. boosted its holdings in shares of Q2 by 7.5% in the 3rd 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 lifted its position in Q2 by 10.8% in the first quarter. Wasatch Advisors LP now owns 4,078,877 shares of the technology company’s stock worth $214,386,000 after buying an additional 398,871 shares during the last quarter. Conestoga Capital Advisors LLC boosted its stake in Q2 by 0.7% during the first quarter. Conestoga Capital Advisors LLC now owns 2,218,924 shares of the technology company’s stock worth $116,627,000 after buying an additional 15,510 shares during the period. North Reef Capital Management LP increased its position in Q2 by 21.2% during 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 raised its stake in shares of Q2 by 14.6% in the first quarter. Jennison Associates LLC now owns 1,852,407 shares of the technology company’s stock valued at $97,363,000 after acquiring an additional 235,582 shares during the period.

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.