Q2 (NYSE:QTWO) Rating Reiterated by Morgan Stanley

Morgan Stanley reissued their equal weight rating on shares of Q2 (NYSE:QTWO) in a research note released on Thursday morning, Benzinga reports. They currently have a $50.00 target price on the technology company’s stock, up from their previous target price of $40.00.

A number of other brokerages have also recently issued reports on QTWO. Royal Bank of Canada lifted their price objective on Q2 from $46.00 to $60.00 and gave the company a sector perform rating in a report on Thursday. Robert W. Baird raised their target price on Q2 from $60.00 to $65.00 and gave the company an outperform rating in a research note on Thursday. Piper Sandler upped their price target on shares of Q2 from $41.00 to $47.00 and gave the stock a neutral rating in a research report on Thursday, February 22nd. 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. Finally, Canaccord Genuity Group upped 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 analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of Moderate Buy and a consensus target price of $55.33.

Q2 Price Performance

Shares of Q2 stock opened at $60.36 on Thursday. Q2 has a twelve month low of $21.21 and a twelve month high of $60.98. The company has a current ratio of 2.38, a quick ratio of 2.38 and a debt-to-equity ratio of 1.06. The firm’s 50-day simple moving average is $50.79 and its 200-day simple moving average is $43.29.

Q2 (NYSE:QTWO) last released its quarterly earnings data 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 company had revenue of $162.12 million for the quarter, compared to the consensus estimate of $161.31 million. Q2 had a negative return on equity of 5.88% and a negative net margin of 12.35%. Equities analysts forecast that Q2 will post -0.02 EPS for the current fiscal year.

Insider Activity

In related news, Director R. H. Seale sold 9,000 shares of the firm’s stock in a transaction on Friday, April 19th. The shares were sold at an average price of $50.10, for a total value of $450,900.00. Following the completion of the transaction, the director now directly owns 363,754 shares of the company’s stock, valued at $18,224,075.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other news, Director R. H. Seale sold 689 shares of the firm’s stock in a transaction that occurred 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 directly owns 420,769 shares of the company’s stock, valued at $20,512,488.75. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director R. H. Seale sold 9,000 shares of the business’s stock in a transaction that occurred on Friday, April 19th. The stock was sold at an average price of $50.10, for a total value of $450,900.00. Following the transaction, the director now directly owns 363,754 shares in the company, valued at $18,224,075.40. The disclosure for this sale can be found here. Insiders sold 245,702 shares of company stock worth $11,164,992 over the last quarter. 3.60% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Q2

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in QTWO. MCF Advisors LLC raised its position in shares of Q2 by 156.5% in the fourth quarter. MCF Advisors LLC now owns 613 shares of the technology company’s stock valued at $27,000 after purchasing an additional 374 shares during the period. International Assets Investment Management LLC raised its holdings in Q2 by 2,582.4% in the 4th quarter. International Assets Investment Management LLC now owns 912 shares of the technology company’s stock valued at $40,000 after acquiring an additional 878 shares during the period. Arcadia Investment Management Corp MI raised its holdings in Q2 by 193.7% in the 4th quarter. Arcadia Investment Management Corp MI now owns 1,119 shares of the technology company’s stock valued at $49,000 after acquiring an additional 738 shares during the period. Fidelis Capital Partners LLC acquired a new stake in Q2 during the first quarter worth approximately $50,000. Finally, RiverPark Advisors LLC boosted its holdings in shares of Q2 by 261.0% during the fourth quarter. RiverPark Advisors LLC now owns 1,332 shares of the technology company’s stock worth $58,000 after acquiring an additional 963 shares during the period.

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.