Q2 (NYSE:QTWO) Trading 10.3% Higher Following Analyst Upgrade

Shares of Q2 Holdings, Inc. (NYSE:QTWO) shot up 10.3% during mid-day trading on Thursday after Morgan Stanley raised their price target on the stock from $89.00 to $93.00. Morgan Stanley currently has an equal weight rating on the stock. Q2 traded as high as $88.97 and last traded at $88.61. 201,934 shares changed hands during mid-day trading, a decline of 68% from the average session volume of 635,205 shares. The stock had previously closed at $80.31.

Other equities research analysts also recently issued reports about the company. Baird R W downgraded Q2 from a “strong-buy” rating to a “hold” rating in a report on Friday, January 10th. Compass Point reiterated a “neutral” rating and issued a $60.00 price target on shares of Q2 in a research note on Monday, April 7th. Stephens restated an “overweight” rating and set a $115.00 price objective on shares of Q2 in a research report on Thursday, February 13th. Needham & Company LLC cut their target price on shares of Q2 from $125.00 to $110.00 and set a “buy” rating for the company in a research report on Thursday. Finally, Robert W. Baird increased their target price on Q2 from $84.00 to $90.00 and gave the company a “neutral” rating in a report on Thursday. Eight research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $98.80.

Insiders Place Their Bets

In related news, insider Kimberly Anne Rutledge sold 6,656 shares of the firm’s stock in a transaction on Wednesday, March 12th. The stock was sold at an average price of $74.12, for a total value of $493,342.72. Following the completion of the transaction, the insider now owns 113,278 shares in the company, valued at $8,396,165.36. This trade represents a 5.55 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director James Offerdahl sold 1,000 shares of Q2 stock in a transaction that occurred on Monday, February 24th. The shares were sold at an average price of $87.96, for a total transaction of $87,960.00. Following the sale, the director now owns 17,241 shares of the company’s stock, valued at approximately $1,516,518.36. The trade was a 5.48 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 193,858 shares of company stock worth $14,853,965. 3.00% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Q2

Large investors have recently added to or reduced their stakes in the stock. Janney Montgomery Scott LLC purchased a new position in shares of Q2 in the fourth quarter worth about $288,000. Charles Schwab Investment Management Inc. raised its holdings in Q2 by 2.1% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 507,065 shares of the technology company’s stock valued at $51,036,000 after acquiring an additional 10,636 shares during the last quarter. Dakota Wealth Management lifted its stake in Q2 by 189.8% in the 4th quarter. Dakota Wealth Management now owns 16,030 shares of the technology company’s stock worth $1,613,000 after purchasing an additional 10,498 shares in the last quarter. Raymond James Financial Inc. purchased a new stake in shares of Q2 in the fourth quarter valued at approximately $18,271,000. Finally, Inspire Investing LLC increased its holdings in shares of Q2 by 103.7% in the fourth quarter. Inspire Investing LLC now owns 13,032 shares of the technology company’s stock valued at $1,312,000 after purchasing an additional 6,633 shares during the last quarter.

Q2 Stock Performance

The company has a quick ratio of 1.40, a current ratio of 1.40 and a debt-to-equity ratio of 0.58. The stock has a 50-day moving average of $77.63 and a 200 day moving average of $90.14. The stock has a market cap of $5.58 billion, a PE ratio of -137.81 and a beta of 1.47.

Q2 (NYSE:QTWO) last released its quarterly earnings data on Wednesday, February 12th. The technology company reported $0.18 EPS for the quarter, missing analysts’ consensus estimates of $0.48 by ($0.30). Q2 had a negative net margin of 5.53% and a positive return on equity of 0.85%. Equities analysts predict that Q2 Holdings, Inc. will post 0.67 EPS for the current fiscal year.

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.