Q2 (NYSE:QTWO) Given New $61.00 Price Target at Piper Sandler

Q2 (NYSE:QTWO) had its price objective hoisted by Piper Sandler from $47.00 to $61.00 in a research report sent to investors on Friday, Benzinga reports. The firm currently has a neutral rating on the technology company’s stock.

A number of other equities research analysts have also recently issued reports on the stock. Morgan Stanley reaffirmed an equal weight rating and issued a $50.00 target price (up from $40.00) on shares of Q2 in a report on Thursday, May 2nd. Royal Bank of Canada upped their price objective on Q2 from $46.00 to $60.00 and gave the company a sector perform rating in a research note on Thursday, May 2nd. Robert W. Baird lifted their target price on Q2 from $60.00 to $65.00 and gave the stock an outperform rating in a research note on Thursday, May 2nd. Needham & Company LLC increased their price target on Q2 from $58.00 to $65.00 and gave the company a buy rating in a research note on Thursday, May 2nd. Finally, DA Davidson lifted their price objective 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. Four research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. According to MarketBeat, the stock has a consensus rating of Moderate Buy and an average price target of $55.33.

Q2 Stock Up 2.0 %

NYSE:QTWO opened at $61.54 on Friday. Q2 has a twelve month low of $21.94 and a twelve month high of $61.84. The firm has a market capitalization of $3.70 billion, a price-to-earnings ratio of -45.58 and a beta of 1.47. The company has a quick ratio of 2.38, a current ratio of 2.38 and a debt-to-equity ratio of 1.06. The stock’s 50 day moving average price is $51.09 and its two-hundred day moving average price is $43.49.

Q2 (NYSE:QTWO) last released 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 net margin of 12.35% and a negative return on equity of 5.88%. The business had revenue of $162.12 million during the quarter, compared to analysts’ expectations of $161.31 million. Equities research analysts expect that Q2 will post -0.02 earnings per share for the current fiscal year.

Insider Buying and Selling at Q2

In other news, CEO Matthew P. Flake sold 45,000 shares of Q2 stock in a transaction that occurred on Wednesday, February 7th. The shares were 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 in the company, valued at $19,769,643.36. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In other Q2 news, Director R. H. Seale sold 9,000 shares of the stock in a transaction dated Friday, April 19th. The shares were sold at an average price of $50.10, for a total transaction of $450,900.00. Following the sale, the director now directly owns 363,754 shares in the company, valued at $18,224,075.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Matthew P. Flake sold 45,000 shares of the business’s stock in a transaction that occurred 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 completion of the transaction, the chief executive officer now owns 473,411 shares of the company’s stock, valued at $19,769,643.36. The disclosure for this sale can be found here. Insiders sold 245,702 shares of company stock valued at $11,164,992 in the last quarter. Company insiders own 3.60% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the company. MCF Advisors LLC boosted its holdings in shares of Q2 by 156.5% in the 4th quarter. MCF Advisors LLC now owns 613 shares of the technology company’s stock valued at $27,000 after purchasing an additional 374 shares in the last quarter. International Assets Investment Management LLC grew its position in Q2 by 2,582.4% in the fourth 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 last quarter. Arcadia Investment Management Corp MI grew its position in Q2 by 193.7% in the fourth 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 last quarter. Fidelis Capital Partners LLC acquired a new position in Q2 during the first quarter worth about $50,000. Finally, RiverPark Advisors LLC lifted its holdings in shares of Q2 by 261.0% in 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 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.