Q2 (NYSE:QTWO) Given Buy Rating at Truist Financial

Q2 (NYSE:QTWO)‘s stock had its “buy” rating reiterated by investment analysts at Truist Financial in a report released on Thursday,Benzinga reports. They presently have a $100.00 price target on the technology company’s stock, up from their prior price target of $78.00. Truist Financial’s target price would suggest a potential downside of 2.70% from the stock’s current price.

A number of other analysts also recently commented on the company. Needham & Company LLC raised their price objective on Q2 from $90.00 to $120.00 and gave the stock a “buy” rating in a research report on Thursday. Citigroup downgraded Q2 from a “buy” rating to a “neutral” rating and raised their price objective for the stock from $72.00 to $90.00 in a research report on Friday, October 18th. Royal Bank of Canada reiterated a “sector perform” rating on shares of Q2 in a research report on Friday, October 18th. Stifel Nicolaus raised their price objective on Q2 from $65.00 to $85.00 and gave the stock a “buy” rating in a research report on Thursday, August 1st. Finally, DA Davidson restated a “neutral” rating and set a $76.00 target price on shares of Q2 in a research report on Monday, September 30th. Five research analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. According to MarketBeat, Q2 has an average rating of “Moderate Buy” and an average target price of $90.79.

Q2 Price Performance

Shares of NYSE:QTWO opened at $102.78 on Thursday. The business has a 50 day moving average price of $80.37 and a 200 day moving average price of $69.44. Q2 has a twelve month low of $32.97 and a twelve month high of $105.00. The company has a market cap of $6.20 billion, a price-to-earnings ratio of -107.06 and a beta of 1.58. The company has a quick ratio of 2.44, a current ratio of 2.44 and a debt-to-equity ratio of 1.02.

Q2 (NYSE:QTWO) last announced its quarterly earnings data on Wednesday, November 6th. The technology company reported ($0.03) EPS for the quarter, topping analysts’ consensus estimates of ($0.04) by $0.01. Q2 had a negative return on equity of 2.34% and a negative net margin of 8.40%. The company had revenue of $175.02 million during the quarter, compared to the consensus estimate of $173.31 million. Research analysts predict that Q2 will post -0.02 earnings per share for the current year.

Insider Activity at Q2

In related news, General Counsel Michael S. Kerr sold 517 shares of the firm’s stock in a transaction on Wednesday, September 11th. The stock was sold at an average price of $70.86, for a total transaction of $36,634.62. Following the completion of the sale, the general counsel now directly owns 61,130 shares of the company’s stock, valued at $4,331,671.80. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In other news, EVP Jonathan Price sold 11,000 shares of Q2 stock in a transaction on Friday, August 16th. The stock was sold at an average price of $71.64, for a total value of $788,040.00. Following the completion of the sale, the executive vice president now directly owns 215,079 shares of the company’s stock, valued at approximately $15,408,259.56. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, General Counsel Michael S. Kerr sold 517 shares of Q2 stock in a transaction 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 completion of the sale, the general counsel now directly 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. Insiders sold 41,963 shares of company stock valued at $3,109,699 in the last three months. Corporate insiders own 3.00% of the company’s stock.

Institutional Investors Weigh In On Q2

Hedge funds and other institutional investors have recently made changes to their positions in the company. CWM LLC grew its stake in shares of Q2 by 54.2% during the second quarter. CWM LLC now owns 481 shares of the technology company’s stock worth $29,000 after purchasing an additional 169 shares during the period. Natixis Advisors LLC grew its stake in shares of Q2 by 1.4% during the second quarter. Natixis Advisors LLC now owns 16,691 shares of the technology company’s stock worth $1,007,000 after purchasing an additional 237 shares during the period. Panagora Asset Management Inc. grew its stake in shares of Q2 by 3.1% during the second quarter. Panagora Asset Management Inc. now owns 13,659 shares of the technology company’s stock worth $824,000 after purchasing an additional 407 shares during the period. Arizona State Retirement System grew its stake in shares of Q2 by 2.6% during the second quarter. Arizona State Retirement System now owns 16,537 shares of the technology company’s stock worth $998,000 after purchasing an additional 423 shares during the period. Finally, RiverPark Advisors LLC grew its stake in shares of Q2 by 9.6% during the second quarter. RiverPark Advisors LLC now owns 6,737 shares of the technology company’s stock worth $406,000 after purchasing an additional 591 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.