Q2 (NYSE:QTWO) Given New $103.00 Price Target at The Goldman Sachs Group

Q2 (NYSE:QTWO) had its price target upped by The Goldman Sachs Group from $86.00 to $103.00 in a note issued to investors on Thursday,Benzinga reports. The firm presently has a “buy” rating on the technology company’s stock. The Goldman Sachs Group’s price objective points to a potential upside of 0.20% from the stock’s previous close.

QTWO has been the topic of several other reports. Needham & Company LLC raised their price target on shares of Q2 from $90.00 to $120.00 and gave the stock a “buy” rating in a research note on Thursday. Citigroup downgraded Q2 from a “buy” rating to a “neutral” rating and boosted their price target for the company from $72.00 to $90.00 in a report on Friday, October 18th. Royal Bank of Canada restated a “sector perform” rating on shares of Q2 in a report on Friday, October 18th. Stifel Nicolaus upped their target price on Q2 from $65.00 to $85.00 and gave the company a “buy” rating in a research note on Thursday, August 1st. Finally, DA Davidson reissued a “neutral” rating and issued a $76.00 price target on shares of Q2 in a research note on Monday, September 30th. Five investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $80.86.

Q2 Price Performance

QTWO traded up $12.29 during midday trading on Thursday, reaching $102.79. 928,377 shares of the company’s stock were exchanged, compared to its average volume of 586,597. 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 business’s 50-day moving average price is $79.23 and its 200 day moving average price is $68.85. Q2 has a 1-year low of $32.97 and a 1-year high of $104.02. The stock has a market capitalization of $6.20 billion, a PE ratio of -89.43 and a beta of 1.58.

Q2 (NYSE:QTWO) last announced its earnings results on Wednesday, November 6th. The technology company reported ($0.03) EPS for the quarter, beating analysts’ consensus estimates of ($0.04) by $0.01. Q2 had a negative return on equity of 3.95% and a negative net margin of 10.40%. The firm had revenue of $175.02 million for the quarter, compared to analysts’ expectations of $173.31 million. As a group, equities analysts anticipate that Q2 will post -0.02 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, CRO Michael A. Volanoski sold 1,428 shares of Q2 stock in a transaction dated Thursday, September 12th. The stock was sold at an average price of $71.93, for a total transaction of $102,716.04. Following the sale, the executive now directly owns 227,672 shares of the company’s stock, valued at approximately $16,376,446.96. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Q2 news, CRO Michael A. Volanoski sold 1,428 shares of the stock in a transaction 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 sale, the executive now directly 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 Securities & Exchange Commission, which is available at the SEC website. Also, Director Jeffrey T. Diehl sold 28,005 shares of Q2 stock in a transaction dated Monday, August 26th. The shares were sold at an average price of $75.25, for a total transaction of $2,107,376.25. Following the completion of the transaction, the director now directly owns 397,702 shares of the company’s stock, valued at $29,927,075.50. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 41,963 shares of company stock worth $3,109,699 in the last quarter. 3.00% of the stock is owned by corporate insiders.

Institutional Trading of Q2

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. BNP Paribas Financial Markets grew its stake in Q2 by 16.2% during the 1st quarter. BNP Paribas Financial Markets now owns 53,701 shares of the technology company’s stock worth $2,823,000 after buying an additional 7,503 shares during the last quarter. SG Americas Securities LLC bought a new stake in shares of Q2 during the first quarter valued at approximately $173,000. Oppenheimer & Co. Inc. acquired a new position in shares of Q2 during the first quarter worth approximately $1,055,000. TimesSquare Capital Management LLC grew its holdings in Q2 by 7.3% in the 1st quarter. TimesSquare Capital Management LLC now owns 490,005 shares of the technology company’s stock worth $25,755,000 after buying an additional 33,354 shares in the last quarter. Finally, Swiss National Bank increased its position in Q2 by 0.5% in the 1st quarter. Swiss National Bank now owns 115,700 shares of the technology company’s stock valued at $6,081,000 after acquiring an additional 600 shares during the period.

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.