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

Q2 (NYSE:QTWO) had its price objective cut by equities researchers at The Goldman Sachs Group from $119.00 to $106.00 in a report issued on Friday,Benzinga reports. The brokerage currently has a “buy” rating on the technology company’s stock. The Goldman Sachs Group’s price objective suggests a potential upside of 31.50% from the company’s current price.

A number of other analysts have also recently commented on the stock. Stephens restated an “overweight” rating and set a $115.00 price target on shares of Q2 in a research note on Thursday, February 13th. Citigroup lifted their price target on Q2 from $96.00 to $100.00 and gave the company a “neutral” rating in a research report on Thursday, February 13th. KeyCorp raised Q2 from a “sector weight” rating to an “overweight” rating and set a $126.00 target price for the company in a report on Wednesday, December 18th. Raymond James raised their price objective on shares of Q2 from $100.00 to $110.00 and gave the company an “outperform” rating in a research report on Thursday, February 13th. Finally, Needham & Company LLC upped their target price on shares of Q2 from $120.00 to $125.00 and gave the stock a “buy” rating in a report on Thursday, February 13th. Seven equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. According to data from MarketBeat, Q2 presently has an average rating of “Moderate Buy” and an average target price of $105.47.

Q2 Stock Down 2.6 %

Shares of NYSE:QTWO traded down $2.11 during midday trading on Friday, hitting $80.61. 143,893 shares of the company’s stock were exchanged, compared to its average volume of 637,456. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.40 and a quick ratio of 1.40. Q2 has a 12 month low of $46.50 and a 12 month high of $112.82. The company has a market cap of $4.90 billion, a PE ratio of -124.04 and a beta of 1.62. The stock has a 50 day moving average price of $87.11 and a 200-day moving average price of $90.47.

Q2 (NYSE:QTWO) last posted its quarterly earnings data 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%. On average, sell-side analysts anticipate that Q2 will post 0.67 EPS for the current fiscal year.

Insider Transactions at Q2

In related news, Director James Offerdahl sold 1,000 shares of the business’s stock in a transaction that occurred on Monday, February 24th. The stock was sold at an average price of $87.96, for a total value of $87,960.00. Following the transaction, the director now directly owns 17,241 shares of the company’s stock, valued at approximately $1,516,518.36. The trade was a 5.48 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CRO Michael A. Volanoski sold 15,005 shares of the stock in a transaction that occurred on Wednesday, March 12th. The shares were sold at an average price of $74.12, for a total transaction of $1,112,170.60. Following the sale, the executive now directly owns 197,966 shares of the company’s stock, valued at approximately $14,673,239.92. This trade represents a 7.05 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 157,835 shares of company stock valued at $11,959,517 over the last three months. Corporate insiders own 3.00% of the company’s stock.

Institutional Investors Weigh In On Q2

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Highland Capital Management LLC lifted its holdings in shares of Q2 by 6.6% during the fourth quarter. Highland Capital Management LLC now owns 2,775 shares of the technology company’s stock worth $279,000 after purchasing an additional 172 shares during the period. Arizona State Retirement System lifted its stake in Q2 by 1.1% during the 4th quarter. Arizona State Retirement System now owns 17,495 shares of the technology company’s stock valued at $1,761,000 after acquiring an additional 190 shares during the period. Summit Investment Advisors Inc. lifted its stake in Q2 by 3.3% during the 4th quarter. Summit Investment Advisors Inc. now owns 6,156 shares of the technology company’s stock valued at $620,000 after acquiring an additional 195 shares during the period. Moran Wealth Management LLC boosted its holdings in shares of Q2 by 2.7% in the 4th quarter. Moran Wealth Management LLC now owns 8,115 shares of the technology company’s stock valued at $817,000 after acquiring an additional 215 shares during the last quarter. Finally, NewEdge Advisors LLC grew its position in Q2 by 269.6% during the 4th quarter. NewEdge Advisors LLC now owns 377 shares of the technology company’s stock worth $38,000 after purchasing an additional 275 shares during the period.

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.