Q2 (NYSE:QTWO) Hits New 12-Month High at $76.54

Q2 Holdings, Inc. (NYSE:QTWO) shares hit a new 52-week high during trading on Tuesday . The company traded as high as $76.54 and last traded at $76.31, with a volume of 141638 shares traded. The stock had previously closed at $74.61.

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on QTWO shares. Royal Bank of Canada increased their price objective on Q2 from $60.00 to $76.00 and gave the company a “sector perform” rating in a report on Thursday, August 1st. Truist Financial restated a “buy” rating and set a $78.00 price objective (up from $68.00) on shares of Q2 in a research note on Thursday, August 1st. The Goldman Sachs Group increased their price objective on shares of Q2 from $59.00 to $86.00 and gave the stock a “buy” rating in a research note on Thursday, August 1st. Stifel Nicolaus upped their price target on shares of Q2 from $65.00 to $85.00 and gave the company a “buy” rating in a report on Thursday, August 1st. Finally, Needham & Company LLC lifted their price objective on Q2 from $65.00 to $90.00 and gave the company a “buy” rating in a research note on Thursday, August 1st. Five equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $72.38.

Q2 Trading Up 2.1 %

The company has a 50 day moving average price of $69.95 and a two-hundred day moving average price of $60.90. The firm has a market capitalization of $4.58 billion, a price-to-earnings ratio of -55.27 and a beta of 1.58. The company has a debt-to-equity ratio of 1.02, a quick ratio of 2.44 and a current ratio of 2.44.

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

Insider Buying and Selling at Q2

In other news, EVP Jonathan Price sold 11,000 shares of Q2 stock in a transaction that occurred on Thursday, June 27th. The stock was sold at an average price of $60.00, for a total value of $660,000.00. Following the sale, the executive vice president now directly owns 226,079 shares of the company’s stock, valued at $13,564,740. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, EVP Jonathan Price sold 11,000 shares of the firm’s stock in a transaction dated Thursday, June 27th. The shares were sold at an average price of $60.00, for a total value of $660,000.00. Following the transaction, the executive vice president now directly owns 226,079 shares of the company’s stock, valued at $13,564,740. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CRO Michael A. Volanoski sold 1,428 shares of the business’s stock in a transaction dated Thursday, September 12th. The stock was sold at an average price of $71.93, for a total transaction of $102,716.04. Following the transaction, the executive now owns 227,672 shares in the company, valued at $16,376,446.96. The disclosure for this sale can be found here. Insiders sold 54,916 shares of company stock valued at $3,896,644 over the last quarter. 3.60% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Q2

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Wasatch Advisors LP raised its stake in Q2 by 10.8% during the first quarter. Wasatch Advisors LP now owns 4,078,877 shares of the technology company’s stock worth $214,386,000 after purchasing an additional 398,871 shares during the period. Brown Capital Management LLC raised its position in shares of Q2 by 0.4% during the 1st quarter. Brown Capital Management LLC now owns 2,565,647 shares of the technology company’s stock valued at $134,850,000 after buying an additional 11,000 shares during the period. Conestoga Capital Advisors LLC lifted its holdings in Q2 by 2.5% in the second quarter. Conestoga Capital Advisors LLC now owns 2,273,894 shares of the technology company’s stock valued at $137,184,000 after acquiring an additional 54,970 shares during the last quarter. Jennison Associates LLC grew its position in Q2 by 14.6% in the first quarter. Jennison Associates LLC now owns 1,852,407 shares of the technology company’s stock worth $97,363,000 after acquiring an additional 235,582 shares during the period. Finally, Hood River Capital Management LLC increased its stake in Q2 by 5.7% during the second quarter. Hood River Capital Management LLC now owns 1,261,924 shares of the technology company’s stock worth $76,132,000 after acquiring an additional 67,757 shares during the last quarter.

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.