Q2 (NYSE:QTWO) had its target price raised by investment analysts at Piper Sandler from $129.00 to $131.00 in a report released on Friday, Benzinga reports. The firm presently has an "overweight" rating on the technology company's stock. Piper Sandler's price target indicates a potential upside of 35.25% from the stock's current price.
A number of other brokerages also recently issued reports on QTWO. Canaccord Genuity boosted their price target on shares of Q2 from $116.00 to $155.00 and gave the stock a "buy" rating in a research report on Monday, March 1st. Zacks Investment Research upgraded shares of Q2 from a "strong sell" rating to a "hold" rating in a research note on Tuesday. DA Davidson lifted their price objective on shares of Q2 from $108.00 to $128.00 and gave the company a "neutral" rating in a research note on Tuesday, February 9th. They noted that the move was a valuation call. KeyCorp boosted their price target on shares of Q2 from $140.00 to $155.00 and gave the company an "overweight" rating in a research note on Thursday, February 25th. Finally, Gabelli upgraded shares of Q2 from a "hold" rating to a "buy" rating in a research note on Monday, April 5th. Five research analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. Q2 has a consensus rating of "Buy" and an average target price of $125.80.
Shares of QTWO stock traded up $1.93 on Friday, hitting $96.86. The company's stock had a trading volume of 760 shares, compared to its average volume of 554,320. The stock has a market capitalization of $5.45 billion, a price-to-earnings ratio of -42.67 and a beta of 1.71. Q2 has a fifty-two week low of $75.67 and a fifty-two week high of $148.56. The company has a debt-to-equity ratio of 0.69, a current ratio of 3.31 and a quick ratio of 3.31. The firm's fifty day moving average price is $103.53 and its 200-day moving average price is $115.92.
Q2 (NYSE:QTWO) last announced its earnings results on Tuesday, February 16th. The technology company reported $0.02 earnings per share (EPS) for the quarter, topping the Zacks' consensus estimate of ($0.17) by $0.19. Q2 had a negative net margin of 30.34% and a negative return on equity of 4.99%. The company had revenue of $108.99 million for the quarter, compared to analyst estimates of $106.21 million. Analysts predict that Q2 will post -0.83 EPS for the current fiscal year.
In other Q2 news, CEO Matthew P. Flake sold 7,333 shares of the firm's stock in a transaction on Friday, February 26th. The stock was sold at an average price of $122.40, for a total transaction of $897,559.20. Following the completion of the transaction, the chief executive officer now owns 258,350 shares of the company's stock, valued at $31,622,040. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Barry G. Benton sold 2,137 shares of the firm's stock in a transaction on Tuesday, March 9th. The shares were sold at an average price of $110.93, for a total value of $237,057.41. Following the transaction, the senior vice president now owns 39,843 shares of the company's stock, valued at $4,419,783.99. The disclosure for this sale can be found here. Insiders sold 172,211 shares of company stock valued at $19,348,503 in the last ninety days. 9.00% of the stock is currently owned by insiders.
Several large investors have recently modified their holdings of the company. Artisan Partners Limited Partnership increased its holdings in shares of Q2 by 5.8% during the fourth quarter. Artisan Partners Limited Partnership now owns 2,108,526 shares of the technology company's stock valued at $266,792,000 after acquiring an additional 116,190 shares in the last quarter. Federated Hermes Inc. grew its stake in shares of Q2 by 4.9% during the 4th quarter. Federated Hermes Inc. now owns 1,272,900 shares of the technology company's stock valued at $161,060,000 after purchasing an additional 60,000 shares during the period. Alliancebernstein L.P. lifted its position in shares of Q2 by 946.6% during the 4th quarter. Alliancebernstein L.P. now owns 777,229 shares of the technology company's stock valued at $98,343,000 after buying an additional 702,969 shares in the last quarter. Baillie Gifford & Co. raised its holdings in shares of Q2 by 9.4% during the 1st quarter. Baillie Gifford & Co. now owns 717,321 shares of the technology company's stock worth $71,875,000 after acquiring an additional 61,403 shares in the last quarter. Finally, Norges Bank bought a new position in shares of Q2 during the 4th quarter valued at approximately $84,926,000.
Q2 Company Profile
Q2 Holdings, Inc provides cloud-based digital banking solutions to regional and community financial institutions (RCFIs) in the United States. The company offers Q2 Digital Banking and Transactions, a browser-based digital banking solution that delivers RCFI-branded digital banking capabilities; Q2mobility App, a mobile and tablet digital banking solution; Q2mobile Remote Deposit Capture, a partnered solution that allows remote check deposit capture; and Q2 Person-to-Person Payments, a partnered integrated person-to-person payments solution.
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