Q2 (NYSE:QTWO) Price Target Raised to $65.00

Q2 (NYSE:QTWO) had its price target upped by analysts at Needham & Company LLC from $58.00 to $65.00 in a research note issued to investors on Thursday, Benzinga reports. The brokerage currently has a “buy” rating on the technology company’s stock. Needham & Company LLC’s target price indicates a potential upside of 25.65% from the company’s current price.

Several other analysts also recently weighed in on the company. Stifel Nicolaus boosted their price objective on Q2 from $48.00 to $60.00 and gave the company a “buy” rating in a research report on Wednesday, April 24th. Canaccord Genuity Group upped their price target on shares of Q2 from $40.00 to $55.00 and gave the company a “buy” rating in a report on Friday, February 23rd. The Goldman Sachs Group raised their price target on shares of Q2 from $39.00 to $51.00 and gave the stock a “buy” rating in a report on Tuesday, January 23rd. Robert W. Baird boosted their price objective on shares of Q2 from $60.00 to $65.00 and gave the company an “outperform” rating in a research report on Thursday. Finally, DA Davidson increased their target price on shares of Q2 from $48.00 to $58.00 and gave the stock a “buy” rating in a report on Tuesday, February 27th. Four research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $49.00.

Q2 Price Performance

Shares of Q2 stock opened at $51.73 on Thursday. The stock has a market capitalization of $3.06 billion, a price-to-earnings ratio of -45.78 and a beta of 1.47. The company has a fifty day moving average of $50.26 and a 200-day moving average of $42.83. Q2 has a 52-week low of $21.21 and a 52-week high of $54.50. The company has a debt-to-equity ratio of 1.09, a quick ratio of 2.23 and a current ratio of 2.23.

Q2 (NYSE:QTWO) last announced its quarterly earnings data on Wednesday, February 21st. The technology company reported ($0.06) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.10) by $0.04. Q2 had a negative return on equity of 6.75% and a negative net margin of 10.47%. The firm had revenue of $162.12 million for the quarter, compared to analysts’ expectations of $161.31 million. Equities research analysts expect that Q2 will post -0.05 EPS for the current year.

Insiders Place Their Bets

In other Q2 news, CRO Michael A. Volanoski sold 2,369 shares of the stock in a transaction on Wednesday, March 13th. The stock was sold at an average price of $50.10, for a total value of $118,686.90. Following the completion of the transaction, the executive now owns 174,024 shares in the company, valued at $8,718,602.40. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. In other news, CRO Michael A. Volanoski sold 2,369 shares of Q2 stock in a transaction that occurred on Wednesday, March 13th. The shares were sold at an average price of $50.10, for a total transaction of $118,686.90. Following the completion of the transaction, the executive now directly owns 174,024 shares in the company, valued at $8,718,602.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Matthew P. Flake sold 46,937 shares of the business’s stock in a transaction that occurred on Friday, February 2nd. The stock was sold at an average price of $42.20, for a total value of $1,980,741.40. Following the completion of the sale, the chief executive officer now directly owns 473,411 shares in the company, valued at $19,977,944.20. The disclosure for this sale can be found here. In the last quarter, insiders have sold 337,639 shares of company stock worth $14,994,784. Company insiders own 3.60% of the company’s stock.

Hedge Funds Weigh In On Q2

Several large investors have recently modified their holdings of the stock. MCF Advisors LLC increased its position in shares of Q2 by 156.5% during the fourth quarter. MCF Advisors LLC now owns 613 shares of the technology company’s stock valued at $27,000 after acquiring an additional 374 shares in the last quarter. International Assets Investment Management LLC increased its holdings in shares of Q2 by 2,582.4% in the 4th 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 in the last quarter. Arcadia Investment Management Corp MI raised its stake in shares of Q2 by 193.7% in the fourth quarter. Arcadia Investment Management Corp MI now owns 1,119 shares of the technology company’s stock worth $49,000 after purchasing an additional 738 shares during the last quarter. RiverPark Advisors LLC boosted its position in shares of Q2 by 261.0% during the fourth quarter. RiverPark Advisors LLC now owns 1,332 shares of the technology company’s stock valued at $58,000 after buying an additional 963 shares during the last quarter. Finally, Criterion Capital Advisors LLC bought a new stake in Q2 in the 4th quarter worth about $152,000.

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.