Q2 (NYSE:QTWO) Price Target Lowered to $90.00 at Cantor Fitzgerald

Q2 (NYSE:QTWO) had its target price trimmed by Cantor Fitzgerald from $110.00 to $90.00 in a report released on Wednesday,Benzinga reports. The firm currently has an overweight rating on the technology company’s stock.

Several other research firms have also commented on QTWO. Weiss Ratings restated a “hold (c-)” rating on shares of Q2 in a research note on Wednesday, October 8th. Stifel Nicolaus reduced their price objective on Q2 from $110.00 to $90.00 and set a “buy” rating for the company in a research note on Wednesday, October 15th. Royal Bank Of Canada increased their price target on Q2 from $101.00 to $102.00 and gave the stock a “sector perform” rating in a research note on Thursday, July 31st. Needham & Company LLC increased their price target on Q2 from $110.00 to $115.00 and gave the stock a “buy” rating in a research note on Thursday, July 31st. Finally, Zacks Research lowered Q2 from a “strong-buy” rating to a “hold” rating in a research note on Monday, September 29th. Nine research analysts have rated the stock with a Buy rating and ten have given a Hold rating to the company’s stock. According to data from MarketBeat, Q2 currently has an average rating of “Hold” and an average target price of $99.44.

Q2 Price Performance

NYSE:QTWO opened at $61.07 on Wednesday. The firm has a market capitalization of $3.81 billion, a price-to-earnings ratio of 1,221.72 and a beta of 1.47. Q2 has a one year low of $58.57 and a one year high of $112.82. The business has a fifty day moving average price of $72.09 and a 200-day moving average price of $80.85.

Insider Buying and Selling at Q2

In other Q2 news, Director James Offerdahl sold 786 shares of the stock in a transaction dated Tuesday, August 12th. The shares were sold at an average price of $74.15, for a total transaction of $58,281.90. Following the completion of the transaction, the director owned 17,792 shares of the company’s stock, valued at $1,319,276.80. This represents a 4.23% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider John E. Breeden sold 6,105 shares of the stock in a transaction dated Monday, August 18th. The shares were sold at an average price of $75.27, for a total transaction of $459,523.35. Following the transaction, the insider directly owned 149,643 shares of the company’s stock, valued at $11,263,628.61. This trade represents a 3.92% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 8,499 shares of company stock valued at $650,658 in the last 90 days. Insiders own 0.31% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in QTWO. Nuveen LLC bought a new position in shares of Q2 during the 1st quarter valued at about $51,960,000. Norges Bank bought a new position in shares of Q2 during the 2nd quarter valued at about $60,466,000. American Century Companies Inc. boosted its holdings in shares of Q2 by 60.5% during the 2nd quarter. American Century Companies Inc. now owns 1,093,099 shares of the technology company’s stock valued at $102,303,000 after purchasing an additional 411,930 shares during the last quarter. Massachusetts Financial Services Co. MA lifted its holdings in shares of Q2 by 28.1% in the 1st quarter. Massachusetts Financial Services Co. MA now owns 1,724,135 shares of the technology company’s stock valued at $137,948,000 after acquiring an additional 378,394 shares during the last quarter. Finally, Ameriprise Financial Inc. lifted its holdings in shares of Q2 by 18.1% in the 2nd quarter. Ameriprise Financial Inc. now owns 1,104,722 shares of the technology company’s stock valued at $103,391,000 after acquiring an additional 169,470 shares during the last quarter.

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.