Q2 (NYSE:QTWO) Given New $120.00 Price Target at Needham & Company LLC

Q2 (NYSE:QTWO) had its price target hoisted by Needham & Company LLC from $90.00 to $120.00 in a research note issued to investors on Thursday,Benzinga reports. The brokerage currently has a buy rating on the technology company’s stock.

Several other analysts have also commented on the stock. DA Davidson restated a “neutral” rating and set a $76.00 price target on shares of Q2 in a research report on Monday, September 30th. Truist Financial restated a “buy” rating and set a $78.00 target price (up previously from $68.00) on shares of Q2 in a research note on Thursday, August 1st. Royal Bank of Canada restated a “sector perform” rating on shares of Q2 in a research note on Friday, October 18th. The Goldman Sachs Group boosted their target price on Q2 from $59.00 to $86.00 and gave the company a “buy” rating in a report on Thursday, August 1st. Finally, Citigroup cut Q2 from a “buy” rating to a “neutral” rating and boosted their price objective for the company from $72.00 to $90.00 in a research note on Friday, October 18th. Five research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $90.79.

Q2 Stock Performance

Shares of NYSE:QTWO traded up $0.38 during trading on Thursday, hitting $102.63. The company’s stock had a trading volume of 690,823 shares, compared to its average volume of 593,043. Q2 has a 12 month low of $32.97 and a 12 month high of $105.00. The company has a debt-to-equity ratio of 1.02, a current ratio of 2.44 and a quick ratio of 2.44. The company has a 50-day moving average of $79.80 and a 200-day moving average of $69.08.

Q2 (NYSE:QTWO) last issued its quarterly earnings data on Wednesday, November 6th. The technology company reported ($0.03) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.04) by $0.01. The business had revenue of $175.02 million for the quarter, compared to the consensus estimate of $173.31 million. Q2 had a negative return on equity of 2.34% and a negative net margin of 8.40%. On average, sell-side analysts anticipate that Q2 will post -0.02 earnings per share for the current year.

Insider Activity at Q2

In related news, CRO Michael A. Volanoski sold 1,428 shares of the company’s stock in a transaction that occurred on Thursday, September 12th. The shares were sold at an average price of $71.93, for a total transaction of $102,716.04. Following the completion of the transaction, the executive now owns 227,672 shares of the company’s stock, valued at approximately $16,376,446.96. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In related news, Director James Offerdahl sold 1,013 shares of the business’s stock in a transaction that occurred on Wednesday, August 28th. The stock was sold at an average price of $73.97, for a total transaction of $74,931.61. Following the sale, the director now owns 18,789 shares of the company’s stock, valued at $1,389,822.33. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CRO Michael A. Volanoski sold 1,428 shares of the business’s stock in a transaction that occurred on Thursday, September 12th. The stock was sold at an average price of $71.93, for a total transaction of $102,716.04. Following the completion of the sale, the executive now owns 227,672 shares in the company, valued at $16,376,446.96. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 41,963 shares of company stock valued at $3,109,699. Company insiders own 3.00% of the company’s stock.

Institutional Investors Weigh In On Q2

Several hedge funds have recently modified their holdings of the stock. CWM LLC raised its holdings in Q2 by 54.2% during the 2nd quarter. CWM LLC now owns 481 shares of the technology company’s stock worth $29,000 after buying an additional 169 shares during the period. International Assets Investment Management LLC grew its position in Q2 by 7,878.3% during the 3rd quarter. International Assets Investment Management LLC now owns 1,835 shares of the technology company’s stock worth $146,000 after purchasing an additional 1,812 shares in the last quarter. Asset Management One Co. Ltd. lifted its holdings in shares of Q2 by 108.1% in the third quarter. Asset Management One Co. Ltd. now owns 1,856 shares of the technology company’s stock valued at $148,000 after purchasing an additional 964 shares in the last quarter. Quest Partners LLC acquired a new stake in shares of Q2 in the second quarter worth $153,000. Finally, SG Americas Securities LLC acquired a new position in Q2 during the first quarter valued at $173,000.

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.