Needham & Company LLC Forecasts Strong Price Appreciation for Q2 (NYSE:QTWO) Stock

Q2 (NYSE:QTWO) had its price objective lifted by Needham & Company LLC from $90.00 to $120.00 in a research report report published on Thursday morning,Benzinga reports. Needham & Company LLC currently has a buy rating on the technology company’s stock.

QTWO has been the subject of several other reports. Compass Point initiated coverage on Q2 in a research note on Wednesday, September 4th. They issued a “buy” rating and a $91.00 price objective for the company. Truist Financial restated a “buy” rating and issued a $78.00 price target (up previously from $68.00) on shares of Q2 in a research report on Thursday, August 1st. Citigroup lowered shares of Q2 from a “buy” rating to a “neutral” rating and boosted their price objective for the stock from $72.00 to $90.00 in a research 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. Finally, The Goldman Sachs Group upped their price target on shares of Q2 from $59.00 to $86.00 and gave the company a “buy” rating in a report on Thursday, August 1st. Five investment analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. Based on data from MarketBeat, Q2 presently has an average rating of “Moderate Buy” and an average target price of $90.79.

Q2 Trading Up 0.5 %

Shares of Q2 stock opened at $102.74 on Thursday. The company has a market capitalization of $6.21 billion, a P/E ratio of -107.02 and a beta of 1.58. Q2 has a 1 year low of $32.97 and a 1 year high of $105.00. The company’s fifty day moving average is $80.37 and its two-hundred day moving average is $69.55. The company has a debt-to-equity ratio of 1.02, a quick ratio of 2.44 and a current ratio of 2.44.

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

Insiders Place Their Bets

In other news, EVP Jonathan Price sold 11,000 shares of Q2 stock in a transaction on Friday, August 16th. The stock was sold at an average price of $71.64, for a total value of $788,040.00. Following the completion of the sale, the executive vice president now owns 215,079 shares of the company’s stock, valued at $15,408,259.56. 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. In other Q2 news, Director Jeffrey T. Diehl sold 28,005 shares of the stock in a transaction that occurred on 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 transaction, the director now 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 transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Jonathan Price sold 11,000 shares of the business’s stock in a transaction on Friday, August 16th. The shares were sold at an average price of $71.64, for a total transaction of $788,040.00. Following the sale, the executive vice president now directly owns 215,079 shares of the company’s stock, valued at $15,408,259.56. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 41,963 shares of company stock valued at $3,109,699 in the last quarter. 3.00% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. CWM LLC increased its stake in Q2 by 54.2% during the second quarter. CWM LLC now owns 481 shares of the technology company’s stock worth $29,000 after acquiring an additional 169 shares during the last quarter. International Assets Investment Management LLC increased 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 position in Q2 by 108.1% during the third quarter. Asset Management One Co. Ltd. now owns 1,856 shares of the technology company’s stock valued at $148,000 after buying an additional 964 shares in the last quarter. Quest Partners LLC purchased a new stake in Q2 during the second quarter worth approximately $153,000. Finally, SG Americas Securities LLC acquired a new stake in shares of Q2 in the first quarter worth $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.