Q2 (NYSE:QTWO) Shares Gap Up After Analyst Upgrade

Q2 Holdings, Inc. (NYSE:QTWO)’s stock price gapped up before the market opened on Thursday after Royal Bank of Canada raised their price target on the stock from $105.00 to $108.00. The stock had previously closed at $92.02, but opened at $99.87. Royal Bank of Canada currently has a sector perform rating on the stock. Q2 shares last traded at $96.35, with a volume of 329,835 shares.

Several other equities research analysts have also recently issued reports on the stock. KeyCorp raised shares of Q2 from a “sector weight” rating to an “overweight” rating and set a $126.00 price objective for the company in a research report on Wednesday, December 18th. Compass Point lifted their target price on shares of Q2 from $91.00 to $107.00 and gave the company a “buy” rating in a report on Thursday, November 7th. Morgan Stanley boosted their price objective on shares of Q2 from $65.00 to $90.00 and gave the stock an “equal weight” rating in a report on Thursday, November 7th. Needham & Company LLC upped their price target on shares of Q2 from $120.00 to $125.00 and gave the company a “buy” rating in a report on Thursday. Finally, Baird R W downgraded shares of Q2 from a “strong-buy” rating to a “hold” rating in a report on Friday, January 10th. Seven research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $102.13.

Insider Transactions at Q2

In other news, President Kirk L. Coleman sold 10,428 shares of the company’s stock in a transaction on Thursday, December 12th. The shares were sold at an average price of $106.42, for a total value of $1,109,747.76. Following the completion of the transaction, the president now directly owns 337,643 shares in the company, valued at approximately $35,931,968.06. This represents a 3.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director James Offerdahl sold 548 shares of the company’s stock in a transaction on Friday, November 22nd. The shares were sold at an average price of $104.95, for a total transaction of $57,512.60. Following the completion of the transaction, the director now owns 18,241 shares of the company’s stock, valued at $1,914,392.95. This trade represents a 2.92 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 28,836 shares of company stock valued at $3,061,035 over the last 90 days. Corporate insiders own 3.00% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in QTWO. Marshall Wace LLP boosted its stake in Q2 by 404.2% during the 4th quarter. Marshall Wace LLP now owns 28,740 shares of the technology company’s stock valued at $2,893,000 after acquiring an additional 23,040 shares during the last quarter. NewEdge Advisors LLC raised its holdings in shares of Q2 by 269.6% during the fourth quarter. NewEdge Advisors LLC now owns 377 shares of the technology company’s stock worth $38,000 after purchasing an additional 275 shares during the period. Mariner LLC raised its holdings in shares of Q2 by 36.2% during the fourth quarter. Mariner LLC now owns 3,644 shares of the technology company’s stock worth $367,000 after purchasing an additional 968 shares during the period. Ameritas Investment Partners Inc. raised its holdings in shares of Q2 by 3.3% during the fourth quarter. Ameritas Investment Partners Inc. now owns 6,156 shares of the technology company’s stock worth $620,000 after purchasing an additional 195 shares during the period. Finally, Townsquare Capital LLC acquired a new stake in shares of Q2 during the fourth quarter worth $290,000.

Q2 Stock Up 0.9 %

The company has a market capitalization of $5.61 billion, a price-to-earnings ratio of -96.68 and a beta of 1.61. The stock’s fifty day simple moving average is $98.99 and its two-hundred day simple moving average is $88.08. The company has a debt-to-equity ratio of 0.99, a current ratio of 2.50 and a quick ratio of 2.50.

Q2 (NYSE:QTWO) last issued its earnings results on Wednesday, February 12th. The technology company reported $0.18 earnings per share for the quarter, missing analysts’ consensus estimates of $0.48 by ($0.30). Q2 had a negative return on equity of 2.30% and a negative net margin of 8.40%. On average, sell-side analysts predict that Q2 Holdings, Inc. will post 0.08 earnings per share for the current fiscal year.

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.