Q2 (NYSE:QTWO) Given New $93.00 Price Target at Piper Sandler

Q2 (NYSE:QTWO) had its target price raised by Piper Sandler from $74.00 to $93.00 in a research report released on Thursday,Benzinga reports. The brokerage currently has a neutral rating on the technology company’s stock.

Several other equities research analysts have also commented on QTWO. Truist Financial reissued a “buy” rating and set a $78.00 price target (up previously from $68.00) on shares of Q2 in a research note on Thursday, August 1st. Stifel Nicolaus boosted their target price on Q2 from $65.00 to $85.00 and gave the stock a “buy” rating in a research report on Thursday, August 1st. DA Davidson restated a “neutral” rating and issued a $76.00 price target on shares of Q2 in a research report on Monday, September 30th. Compass Point started coverage on Q2 in a research note on Wednesday, September 4th. They set a “buy” rating and a $91.00 price target for the company. Finally, Citigroup cut shares of Q2 from a “buy” rating to a “neutral” rating and increased their price objective for the company from $72.00 to $90.00 in a research note on Friday, October 18th. Five equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $90.79.

Q2 Price Performance

Q2 stock traded up $0.53 during midday trading on Thursday, reaching $102.78. The company’s stock had a trading volume of 842,638 shares, compared to its average volume of 593,743. Q2 has a fifty-two week low of $32.97 and a fifty-two week high of $105.00. The stock’s 50 day simple moving average is $79.80 and its 200 day simple moving average is $69.08. The company has a debt-to-equity ratio of 1.02, a current ratio of 2.44 and a quick ratio of 2.44.

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

Insider Transactions at Q2

In related news, Director Jeffrey T. Diehl sold 28,005 shares of the company’s stock in a transaction on Monday, August 26th. The stock was sold at an average price of $75.25, for a total value of $2,107,376.25. Following the completion of the transaction, the director now directly owns 397,702 shares in the company, valued at approximately $29,927,075.50. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In related news, Director James Offerdahl sold 1,013 shares of the firm’s stock in a transaction that occurred on Wednesday, August 28th. The shares were sold at an average price of $73.97, for a total value of $74,931.61. Following the transaction, the director now owns 18,789 shares in the company, valued at approximately $1,389,822.33. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Jeffrey T. Diehl sold 28,005 shares of Q2 stock in a transaction on Monday, August 26th. The shares were sold at an average price of $75.25, for a total transaction of $2,107,376.25. Following the transaction, the director now owns 397,702 shares in the company, valued at $29,927,075.50. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 41,963 shares of company stock worth $3,109,699 over the last quarter. 3.00% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the stock. Hood River Capital Management LLC acquired a new position in Q2 during the 1st quarter worth approximately $62,765,000. American Century Companies Inc. boosted its position in Q2 by 5,990.6% in the 2nd quarter. American Century Companies Inc. now owns 1,210,143 shares of the technology company’s stock valued at $73,008,000 after buying an additional 1,190,274 shares during the last quarter. Perpetual Ltd purchased a new position in Q2 in the 3rd quarter valued at about $80,788,000. Price T Rowe Associates Inc. MD grew its stake in shares of Q2 by 1,910.0% during the first quarter. Price T Rowe Associates Inc. MD now owns 719,767 shares of the technology company’s stock valued at $37,832,000 after acquiring an additional 683,957 shares in the last quarter. Finally, Venturi Wealth Management LLC increased its position in shares of Q2 by 139.5% during the third quarter. Venturi Wealth Management LLC now owns 608,721 shares of the technology company’s stock worth $48,558,000 after acquiring an additional 354,524 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.