Truist Financial Reiterates Buy Rating for Q2 (NYSE:QTWO)

Truist Financial restated their buy rating on shares of Q2 (NYSE:QTWO) in a research note issued to investors on Friday, Benzinga reports. The brokerage currently has a $60.00 target price on the technology company’s stock, up from their previous target price of $50.00.

Several other research firms have also issued reports on QTWO. DA Davidson increased their target price on Q2 from $48.00 to $58.00 and gave the stock a buy rating in a research note on Tuesday, February 27th. Piper Sandler increased their price target on Q2 from $41.00 to $47.00 and gave the company a neutral rating in a research report on Thursday, February 22nd. Canaccord Genuity Group increased their price target on Q2 from $40.00 to $55.00 and gave the company a buy rating in a research report on Friday, February 23rd. TheStreet raised Q2 from a d+ rating to a c- rating in a research report on Friday, December 29th. Finally, Needham & Company LLC increased their price target on Q2 from $50.00 to $58.00 and gave the company a buy rating in a research report on Thursday, February 22nd. Four equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. According to MarketBeat.com, Q2 has an average rating of Moderate Buy and a consensus price target of $45.33.

Q2 Stock Performance

QTWO opened at $49.98 on Friday. The stock’s 50-day moving average price is $48.69 and its 200 day moving average price is $41.62. Q2 has a 12-month low of $21.21 and a 12-month high of $53.96. The company has a debt-to-equity ratio of 1.09, a current ratio of 2.23 and a quick ratio of 2.23.

Q2 (NYSE:QTWO) last posted its earnings results on Wednesday, February 21st. The technology company reported ($0.06) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.10) by $0.04. Q2 had a negative return on equity of 6.75% and a negative net margin of 10.47%. The firm had revenue of $162.12 million for the quarter, compared to analyst estimates of $161.31 million. As a group, research analysts expect that Q2 will post -0.05 EPS for the current fiscal year.

Insider Buying and Selling

In related news, Director R. H. Seale sold 9,000 shares of the firm’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 transaction of $450,900.00. Following the transaction, the director now owns 363,754 shares in the company, valued at approximately $18,224,075.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In related news, CRO Michael A. Volanoski sold 2,369 shares of the firm’s stock in a transaction that occurred on Wednesday, March 13th. The stock was sold at an average price of $50.10, for a total transaction of $118,686.90. Following the transaction, the executive now owns 174,024 shares in the company, valued at approximately $8,718,602.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director R. H. Seale sold 9,000 shares of the firm’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 owns 363,754 shares in the company, valued at approximately $18,224,075.40. The disclosure for this sale can be found here. Insiders have sold 345,313 shares of company stock worth $15,340,114 in the last quarter. 3.60% of the stock is owned by insiders.

Institutional Trading of Q2

Hedge funds have recently added to or reduced their stakes in the stock. MCF Advisors LLC lifted its position in Q2 by 156.5% during the 4th quarter. MCF Advisors LLC now owns 613 shares of the technology company’s stock worth $27,000 after acquiring an additional 374 shares during the period. Canada Pension Plan Investment Board acquired a new stake in Q2 during the 1st quarter worth approximately $49,000. International Assets Investment Management LLC lifted its position in Q2 by 2,582.4% during the 4th quarter. International Assets Investment Management LLC now owns 912 shares of the technology company’s stock worth $40,000 after acquiring an additional 878 shares during the period. Arcadia Investment Management Corp MI lifted its position in Q2 by 193.7% during the 4th quarter. Arcadia Investment Management Corp MI now owns 1,119 shares of the technology company’s stock worth $49,000 after acquiring an additional 738 shares during the period. Finally, Captrust Financial Advisors lifted its position in Q2 by 370.8% during the 2nd quarter. Captrust Financial Advisors now owns 1,243 shares of the technology company’s stock worth $48,000 after acquiring an additional 979 shares during the period.

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.