Q2 (NYSE:QTWO) PT Raised to $65.00 at Needham & Company LLC

Q2 (NYSE:QTWO) had its target price boosted by Needham & Company LLC from $58.00 to $65.00 in a research report released on Thursday, Benzinga reports. Needham & Company LLC currently has a buy rating on the technology company’s stock.

QTWO has been the subject of a number of other reports. Canaccord Genuity Group lifted their price target on shares of Q2 from $40.00 to $55.00 and gave the company a buy rating in a research report on Friday, February 23rd. Robert W. Baird lifted their target price on shares of Q2 from $60.00 to $65.00 and gave the company an outperform rating in a report on Thursday. The Goldman Sachs Group upped their price target on Q2 from $39.00 to $51.00 and gave the stock a buy rating in a research note on Tuesday, January 23rd. DA Davidson lifted their price objective on Q2 from $48.00 to $58.00 and gave the company a buy rating in a research note on Tuesday, February 27th. Finally, Piper Sandler increased their target price on Q2 from $41.00 to $47.00 and gave the stock a neutral rating in a research note on Thursday, February 22nd. Four investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of Moderate Buy and an average target price of $55.33.

Q2 Stock Performance

Q2 stock opened at $60.36 on Thursday. The stock has a market cap of $3.63 billion, a price-to-earnings ratio of -44.71 and a beta of 1.47. The company has a debt-to-equity ratio of 1.06, a current ratio of 2.38 and a quick ratio of 2.23. The firm has a 50 day simple moving average of $50.79 and a 200-day simple moving average of $43.21. Q2 has a 1-year low of $21.21 and a 1-year high of $60.98.

Q2 (NYSE:QTWO) last posted its earnings results on Wednesday, February 21st. The technology company reported ($0.06) EPS for the quarter, beating analysts’ consensus estimates of ($0.10) by $0.04. The company had revenue of $162.12 million for the quarter, compared to the consensus estimate of $161.31 million. Q2 had a negative return on equity of 5.88% and a negative net margin of 12.35%. On average, analysts expect that Q2 will post -0.02 EPS for the current year.

Insider Buying and Selling

In other news, CEO Matthew P. Flake sold 45,000 shares of the stock in a transaction dated Monday, February 5th. The stock was sold at an average price of $41.09, for a total value of $1,849,050.00. Following the transaction, the chief executive officer now owns 473,411 shares in the company, valued at approximately $19,452,457.99. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In other news, CEO Matthew P. Flake sold 45,000 shares of the business’s stock in a transaction that occurred on Monday, February 5th. The shares were sold at an average price of $41.09, for a total transaction of $1,849,050.00. Following the completion of the sale, the chief executive officer now owns 473,411 shares in the company, valued at approximately $19,452,457.99. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director R. H. Seale sold 9,000 shares of the stock in a transaction on Friday, April 19th. The shares were sold at an average price of $50.10, for a total transaction of $450,900.00. Following the completion of the transaction, the director now directly owns 363,754 shares in the company, valued at $18,224,075.40. The disclosure for this sale can be found here. Over the last quarter, insiders sold 290,702 shares of company stock worth $13,014,042. Corporate insiders own 3.60% of the company’s stock.

Institutional Investors Weigh In On Q2

Large investors have recently modified their holdings of the company. Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in shares of Q2 by 29.0% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 9,439 shares of the technology company’s stock valued at $305,000 after acquiring an additional 2,123 shares during the period. Washington Capital Management Inc. purchased a new stake in shares of Q2 in the third quarter valued at about $526,000. Oak Ridge Investments LLC acquired a new stake in shares of Q2 during the third quarter worth about $2,906,000. Jennison Associates LLC boosted its stake in shares of Q2 by 147.4% during the third quarter. Jennison Associates LLC now owns 1,225,286 shares of the technology company’s stock worth $39,540,000 after buying an additional 729,959 shares during the period. Finally, Teacher Retirement System of Texas purchased a new position in shares of Q2 during the third quarter worth about $268,000.

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.