The Goldman Sachs Group Cuts Q2 (NYSE:QTWO) Price Target to $106.00

Q2 (NYSE:QTWO) had its price objective cut by The Goldman Sachs Group from $119.00 to $106.00 in a report issued on Friday morning,Benzinga reports. They currently have a buy rating on the technology company’s stock.

A number of other research firms have also recently weighed in on QTWO. Robert W. Baird reaffirmed a “neutral” rating and set a $99.00 price objective (up from $89.00) on shares of Q2 in a research report on Friday, January 10th. Needham & Company LLC upped their price target on shares of Q2 from $120.00 to $125.00 and gave the stock a “buy” rating in a research report on Thursday, February 13th. 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 note on Wednesday, December 18th. Truist Financial restated a “buy” rating and set a $110.00 target price (up previously from $100.00) on shares of Q2 in a research note on Thursday, February 13th. Finally, Citigroup increased their price target on Q2 from $96.00 to $100.00 and gave the stock a “neutral” rating in a research note on Thursday, February 13th. Seven analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $105.47.

Q2 Price Performance

Shares of NYSE:QTWO opened at $80.71 on Friday. The firm’s 50 day moving average price is $86.84 and its 200-day moving average price is $90.79. 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 market capitalization of $4.90 billion, a PE ratio of -124.16 and a beta of 1.62. Q2 has a twelve month low of $46.50 and a twelve month high of $112.82.

Q2 (NYSE:QTWO) last issued its quarterly earnings results on Wednesday, February 12th. The technology company reported $0.18 earnings per share for the quarter, missing the consensus estimate of $0.48 by ($0.30). Q2 had a positive return on equity of 0.85% and a negative net margin of 5.53%. Equities research analysts expect that Q2 will post 0.67 EPS for the current year.

Insider Buying and Selling at Q2

In related news, CEO Matthew P. Flake sold 56,799 shares of the stock in a transaction dated Thursday, March 6th. The shares were sold at an average price of $78.28, for a total value of $4,446,225.72. Following the completion of the transaction, the chief executive officer now owns 453,849 shares of the company’s stock, valued at approximately $35,527,299.72. This trade represents a 11.12 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Kimberly Anne Rutledge sold 6,656 shares of the business’s stock in a transaction that occurred 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 sale, the insider now directly owns 113,278 shares in the company, valued at $8,396,165.36. The trade was a 5.55 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 157,835 shares of company stock worth $11,959,517 in the last quarter. 3.00% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Q2

Several institutional investors have recently modified their holdings of QTWO. William Blair Investment Management LLC purchased a new stake in Q2 during the 4th quarter valued at $202,645,000. Massachusetts Financial Services Co. MA increased its position in Q2 by 107.9% during the fourth quarter. Massachusetts Financial Services Co. MA now owns 1,345,741 shares of the technology company’s stock valued at $135,449,000 after acquiring an additional 698,464 shares during the last quarter. Arrowstreet Capital Limited Partnership raised its stake in shares of Q2 by 732.2% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 745,404 shares of the technology company’s stock valued at $75,025,000 after acquiring an additional 655,838 shares during the period. Ameriprise Financial Inc. raised its stake in shares of Q2 by 105.8% in the fourth quarter. Ameriprise Financial Inc. now owns 1,012,787 shares of the technology company’s stock valued at $101,937,000 after acquiring an additional 520,649 shares during the period. Finally, Franklin Resources Inc. lifted its holdings in shares of Q2 by 893.5% in the 4th quarter. Franklin Resources Inc. now owns 471,523 shares of the technology company’s stock worth $47,459,000 after acquiring an additional 424,062 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.