Raymond James Forecasts Strong Price Appreciation for Q2 (NYSE:QTWO) Stock

Q2 (NYSE:QTWO) had its price target upped by equities researchers at Raymond James from $100.00 to $110.00 in a report released on Thursday,Benzinga reports. The brokerage presently has an “outperform” rating on the technology company’s stock. Raymond James’ price objective points to a potential upside of 18.28% from the stock’s current price.

QTWO has been the subject of several other reports. Robert W. Baird reissued a “neutral” rating and issued a $99.00 price objective (up from $89.00) on shares of Q2 in a research report on Friday, January 10th. Piper Sandler boosted their price objective on Q2 from $74.00 to $93.00 and gave the company a “neutral” rating in a report on Thursday, November 7th. Stephens reissued an “overweight” rating and issued a $115.00 price target on shares of Q2 in a research report on Thursday. Stifel Nicolaus lifted their price objective on shares of Q2 from $115.00 to $125.00 and gave the stock a “buy” rating in a report on Thursday. Finally, Citigroup upped their target price on shares of Q2 from $96.00 to $100.00 and gave the stock a “neutral” rating in a research note on Thursday. Seven investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $102.13.

Q2 Trading Up 1.1 %

Shares of NYSE:QTWO traded up $0.98 during mid-day trading on Thursday, reaching $93.00. 809,118 shares of the company’s stock were exchanged, compared to its average volume of 634,395. The firm has a market capitalization of $5.62 billion, a price-to-earnings ratio of -96.88 and a beta of 1.61. Q2 has a twelve month low of $41.23 and a twelve month high of $112.82. The business’s fifty day moving average price is $98.99 and its 200-day moving average price is $88.08. The company has a debt-to-equity ratio of 0.99, a quick ratio of 2.50 and a current ratio of 2.50.

Q2 (NYSE:QTWO) last posted its quarterly earnings data on Wednesday, February 12th. The technology company reported $0.18 EPS for the quarter, missing analysts’ consensus estimates of $0.48 by ($0.30). Q2 had a negative return on equity of 2.30% and a negative net margin of 8.40%. On average, research analysts predict that Q2 will post 0.08 EPS for the current fiscal year.

Insider Activity at Q2

In other Q2 news, President Kirk L. Coleman sold 8,559 shares of the business’s stock in a transaction on Tuesday, December 10th. The stock was sold at an average price of $106.00, for a total value of $907,254.00. Following the sale, the president now directly owns 340,903 shares in the company, valued at $36,135,718. The trade was a 2.45 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director James Offerdahl sold 548 shares of the company’s stock in a transaction on Friday, November 22nd. The shares were sold at an average price of $104.95, for a total value of $57,512.60. Following the transaction, the director now directly owns 18,241 shares in the company, valued at $1,914,392.95. This represents a 2.92 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 28,836 shares of company stock worth $3,061,035. Insiders own 3.00% of the company’s stock.

Hedge Funds Weigh In On Q2

Several large investors have recently modified their holdings of QTWO. Proficio Capital Partners LLC bought a new position in Q2 in the 4th quarter worth approximately $29,000. Quarry LP lifted its position in shares of Q2 by 988.2% during the third quarter. Quarry LP now owns 370 shares of the technology company’s stock worth $30,000 after acquiring an additional 336 shares in the last quarter. SBI Securities Co. Ltd. bought a new position in shares of Q2 in the fourth quarter worth $30,000. TCTC Holdings LLC purchased a new position in shares of Q2 in the fourth quarter valued at $30,000. Finally, Ameliora Wealth Management Ltd. bought a new stake in shares of Q2 during the 4th quarter valued at $32,000.

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.