Q2 (NYSE:QTWO) Reaches New 12-Month High – Should You Buy?

Q2 Holdings, Inc. (NYSE:QTWO)’s share price hit a new 52-week high during trading on Tuesday . The stock traded as high as $82.73 and last traded at $82.20, with a volume of 16720 shares trading hands. The stock had previously closed at $81.92.

Analysts Set New Price Targets

Several brokerages have recently commented on QTWO. Needham & Company LLC raised their price objective on shares of Q2 from $65.00 to $90.00 and gave the stock a “buy” rating in a research report on Thursday, August 1st. The Goldman Sachs Group lifted their price target on shares of Q2 from $59.00 to $86.00 and gave the company a “buy” rating in a research note on Thursday, August 1st. Truist Financial reissued a “buy” rating and set a $78.00 price objective (up previously from $68.00) on shares of Q2 in a research report on Thursday, August 1st. BTIG Research upped their price target on Q2 from $75.00 to $82.00 and gave the stock a “buy” rating in a research note on Monday, August 26th. Finally, DA Davidson reissued a “neutral” rating and issued a $76.00 price objective on shares of Q2 in a research note on Monday, September 30th. Four equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $72.38.

Q2 Trading Up 0.4 %

The stock has a market capitalization of $4.94 billion, a PE ratio of -60.67 and a beta of 1.59. The company has a current ratio of 2.44, a quick ratio of 2.44 and a debt-to-equity ratio of 1.02. The firm has a 50-day moving average price of $74.90 and a 200-day moving average price of $65.08.

Q2 (NYSE:QTWO) last announced its quarterly earnings data on Wednesday, July 31st. The technology company reported ($0.06) EPS for the quarter, missing the consensus estimate of ($0.03) by ($0.03). Q2 had a negative return on equity of 3.95% and a negative net margin of 10.40%. The company had revenue of $172.89 million during the quarter, compared to the consensus estimate of $170.67 million. As a group, equities analysts forecast that Q2 Holdings, Inc. will post -0.01 EPS for the current fiscal year.

Insider Buying and Selling

In other news, General Counsel Michael S. Kerr sold 517 shares of the business’s stock in a transaction that occurred on Wednesday, September 11th. The shares were sold at an average price of $70.86, for a total value of $36,634.62. Following the sale, the general counsel now owns 61,130 shares of the company’s stock, valued at $4,331,671.80. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In other news, CRO Michael A. Volanoski sold 1,428 shares of the stock in a transaction dated Thursday, September 12th. The shares were sold at an average price of $71.93, for a total value of $102,716.04. Following the sale, the executive now directly owns 227,672 shares of the company’s stock, valued at approximately $16,376,446.96. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, General Counsel Michael S. Kerr sold 517 shares of the firm’s stock in a transaction that occurred on Wednesday, September 11th. The shares were sold at an average price of $70.86, for a total transaction of $36,634.62. Following the completion of the transaction, the general counsel now owns 61,130 shares of the company’s stock, valued at $4,331,671.80. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 41,963 shares of company stock valued at $3,109,699. 3.60% of the stock is owned by insiders.

Institutional Investors Weigh In On Q2

Institutional investors and hedge funds have recently made changes to their positions in the business. CWM LLC boosted its position in shares of Q2 by 54.2% during the 2nd quarter. CWM LLC now owns 481 shares of the technology company’s stock valued at $29,000 after acquiring an additional 169 shares during the last quarter. Fidelis Capital Partners LLC purchased a new stake in shares of Q2 during the first quarter worth about $50,000. Quest Partners LLC purchased a new stake in Q2 in the 2nd quarter worth approximately $153,000. SG Americas Securities LLC bought a new stake in Q2 in the first quarter valued at $173,000. Finally, nVerses Capital LLC purchased a new position in shares of Q2 during the second quarter valued at about $181,000.

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.