Q2 (NYSE:QTWO) Stock Price Expected to Rise, Morgan Stanley Analyst Says

Q2 (NYSE:QTWO) had its price objective upped by research analysts at Morgan Stanley from $65.00 to $90.00 in a note issued to investors on Thursday,Benzinga reports. The brokerage presently has an “equal weight” rating on the technology company’s stock. Morgan Stanley’s target price would suggest a potential downside of 13.05% from the stock’s previous close.

Other equities analysts also recently issued reports about the stock. DA Davidson restated a “neutral” rating and set a $76.00 target price on shares of Q2 in a report on Monday, September 30th. Stifel Nicolaus boosted their price target on Q2 from $65.00 to $85.00 and gave the stock a “buy” rating in a research report on Thursday, August 1st. Needham & Company LLC raised their price objective on shares of Q2 from $90.00 to $120.00 and gave the stock a “buy” rating in a research report on Thursday. Royal Bank of Canada boosted their price target on Q2 from $76.00 to $105.00 and gave the company a “sector perform” rating in a research note on Thursday. Finally, Piper Sandler increased their target price on Q2 from $74.00 to $93.00 and gave the stock a “neutral” rating in a report on Thursday. Five research analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. Based on data from MarketBeat, Q2 currently has an average rating of “Moderate Buy” and a consensus price target of $90.79.

Q2 Trading Up 14.4 %

Shares of QTWO traded up $13.01 on Thursday, reaching $103.51. 1,284,865 shares of the company’s stock were exchanged, compared to its average volume of 588,247. The business has a 50 day moving average price of $79.23 and a two-hundred day moving average price of $68.85. Q2 has a 12 month low of $32.97 and a 12 month high of $105.00. The stock has a market capitalization of $6.24 billion, a P/E ratio of -89.23 and a beta of 1.58. The company has a current ratio of 2.44, a quick ratio of 2.44 and a debt-to-equity ratio of 1.02.

Q2 (NYSE:QTWO) last posted its earnings results on Wednesday, November 6th. The technology company reported ($0.03) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.04) by $0.01. The company had revenue of $175.02 million during the quarter, compared to analyst estimates of $173.31 million. Q2 had a negative return on equity of 3.95% and a negative net margin of 10.40%. Research analysts anticipate that Q2 will post -0.02 earnings per share for the current year.

Insider Buying and Selling at Q2

In related news, CRO Michael A. Volanoski sold 1,428 shares of Q2 stock in a transaction on Thursday, September 12th. The shares were sold at an average price of $71.93, for a total transaction of $102,716.04. Following the completion of the transaction, the executive now owns 227,672 shares of the company’s stock, valued at $16,376,446.96. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, 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 owns 61,130 shares in the company, valued at $4,331,671.80. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CRO Michael A. Volanoski sold 1,428 shares of the stock in a transaction on 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 directly owns 227,672 shares in the company, valued at approximately $16,376,446.96. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 41,963 shares of company stock valued at $3,109,699. 3.00% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Q2

Several institutional investors have recently made changes to their positions in the stock. DekaBank Deutsche Girozentrale increased its position in Q2 by 67.4% in the 1st quarter. DekaBank Deutsche Girozentrale now owns 55,617 shares of the technology company’s stock valued at $2,908,000 after buying an additional 22,400 shares in the last quarter. Perpetual Ltd acquired a new stake in Q2 in the 3rd quarter valued at $80,788,000. Oppenheimer & Co. Inc. bought a new position in shares of Q2 in the first quarter valued at $1,055,000. Picton Mahoney Asset Management bought a new position in Q2 in the 1st quarter valued at about $5,591,000. Finally, Price T Rowe Associates Inc. MD boosted its stake in Q2 by 1,910.0% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 719,767 shares of the technology company’s stock valued at $37,832,000 after purchasing an additional 683,957 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.