Q2 (NYSE:QTWO) Price Target Raised to $90.00

Q2 (NYSE:QTWO) had its price target boosted by equities researchers at Needham & Company LLC from $65.00 to $90.00 in a note issued to investors on Thursday, Benzinga reports. The brokerage presently has a “buy” rating on the technology company’s stock. Needham & Company LLC’s price target points to a potential upside of 28.70% from the stock’s previous close.

Several other brokerages have also weighed in on QTWO. Truist Financial restated a “buy” rating and issued a $78.00 price objective (up previously from $68.00) on shares of Q2 in a report on Thursday. Piper Sandler lifted their price objective on shares of Q2 from $47.00 to $61.00 and gave the stock a “neutral” rating in a research note on Friday, May 3rd. BTIG Research increased their target price on shares of Q2 from $60.00 to $75.00 and gave the company a “buy” rating in a research note on Thursday. Robert W. Baird lifted their price target on shares of Q2 from $60.00 to $65.00 and gave the stock an “outperform” rating in a research report on Thursday, May 2nd. Finally, DA Davidson downgraded Q2 from a “buy” rating to a “neutral” rating and increased their price objective for the company from $65.00 to $76.00 in a research report on Wednesday, July 24th. Five investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $64.13.

Q2 Price Performance

Shares of QTWO stock traded up $2.46 during midday trading on Thursday, reaching $69.93. 1,103,611 shares of the company were exchanged, compared to its average volume of 613,961. The company’s 50 day moving average price is $62.41 and its two-hundred day moving average price is $54.29. The company has a market cap of $4.20 billion, a P/E ratio of -51.80 and a beta of 1.55. Q2 has a 12 month low of $28.91 and a 12 month high of $75.94. The company has a debt-to-equity ratio of 1.06, a quick ratio of 2.38 and a current ratio of 2.38.

Q2 (NYSE:QTWO) last announced its earnings results on Wednesday, May 1st. The technology company reported ($0.04) EPS for the quarter, topping the consensus estimate of ($0.05) by $0.01. The firm had revenue of $165.51 million for the quarter, compared to analysts’ expectations of $163.58 million. Q2 had a negative return on equity of 5.88% and a negative net margin of 12.35%. On average, sell-side analysts expect that Q2 will post -0.05 earnings per share for the current year.

Insider Buying and Selling at Q2

In other Q2 news, President Kirk L. Coleman sold 3,537 shares of the business’s stock in a transaction dated Monday, June 10th. The stock was sold at an average price of $61.26, for a total value of $216,676.62. Following the transaction, the president now owns 352,177 shares in the company, valued at $21,574,363.02. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Q2 news, CRO Michael A. Volanoski sold 1,166 shares of the stock in a transaction on Monday, June 10th. The shares were sold at an average price of $61.26, for a total transaction of $71,429.16. Following the transaction, the executive now directly owns 239,476 shares of the company’s stock, valued at $14,670,299.76. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, President Kirk L. Coleman sold 3,537 shares of the business’s stock in a transaction dated Monday, June 10th. The stock was sold at an average price of $61.26, for a total value of $216,676.62. Following the completion of the sale, the president now directly owns 352,177 shares of the company’s stock, valued at approximately $21,574,363.02. The disclosure for this sale can be found here. In the last quarter, insiders have sold 84,637 shares of company stock worth $5,224,320. 3.60% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in QTWO. Asset Management One Co. Ltd. grew its holdings in Q2 by 460.4% during the fourth quarter. Asset Management One Co. Ltd. now owns 9,582 shares of the technology company’s stock valued at $423,000 after purchasing an additional 7,872 shares during the last quarter. International Assets Investment Management LLC increased its stake in shares of Q2 by 2,582.4% in the fourth quarter. International Assets Investment Management LLC now owns 912 shares of the technology company’s stock worth $40,000 after purchasing an additional 878 shares during the period. Mirae Asset Global Investments Co. Ltd. increased its stake in shares of Q2 by 9.2% in the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 26,645 shares of the technology company’s stock worth $1,157,000 after purchasing an additional 2,245 shares during the period. Allspring Global Investments Holdings LLC increased its position in Q2 by 1.3% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 434,699 shares of the technology company’s stock worth $18,870,000 after buying an additional 5,435 shares during the period. Finally, Conestoga Capital Advisors LLC lifted its holdings in shares of Q2 by 13.2% during the fourth quarter. Conestoga Capital Advisors LLC now owns 2,203,414 shares of the technology company’s stock worth $95,650,000 after buying an additional 256,802 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.