Q2 (NYSE:QTWO) Price Target Raised to $93.00 at Piper Sandler

Q2 (NYSE:QTWO) had its target price boosted by analysts at Piper Sandler from $74.00 to $93.00 in a research report issued to clients and investors on Thursday, Benzinga reports. The brokerage currently has a “neutral” rating on the technology company’s stock. Piper Sandler’s price objective would indicate a potential upside of 2.76% from the stock’s current price.

Several other research analysts also recently commented on the stock. Citigroup downgraded shares of Q2 from a “buy” rating to a “neutral” rating and raised their price objective for the stock from $72.00 to $90.00 in a report on Friday, October 18th. The Goldman Sachs Group raised their price objective on shares of Q2 from $59.00 to $86.00 and gave the company a “buy” rating in a research report on Thursday, August 1st. DA Davidson reiterated a “neutral” rating and issued a $76.00 target price on shares of Q2 in a research report on Monday, September 30th. Compass Point initiated coverage on shares of Q2 in a report on Wednesday, September 4th. They issued a “buy” rating and a $91.00 price target on the stock. Finally, Royal Bank of Canada reissued a “sector perform” rating on shares of Q2 in a report on Friday, October 18th. Five analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. Based on data from MarketBeat.com, Q2 currently has an average rating of “Moderate Buy” and an average price target of $78.07.

Q2 Stock Up 5.0 %

Q2 stock opened at $90.50 on Thursday. Q2 has a twelve month low of $32.97 and a twelve month high of $92.10. The firm has a 50 day moving average price of $79.23 and a 200-day moving average price of $68.85. The company has a market capitalization of $5.46 billion, a P/E ratio of -78.02 and a beta of 1.58. The company has a quick ratio of 2.44, a current ratio of 2.44 and a debt-to-equity ratio of 1.02.

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

Insider Activity

In related news, General Counsel Michael S. Kerr sold 517 shares of the business’s stock in a transaction that occurred on Wednesday, September 11th. The shares were sold at an average price of $70.86, for a total transaction of $36,634.62. Following the completion of the sale, the general counsel now directly owns 61,130 shares in the company, valued at approximately $4,331,671.80. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In related news, Director James Offerdahl sold 1,013 shares of the company’s stock in a transaction on Wednesday, August 28th. The shares were sold at an average price of $73.97, for a total transaction of $74,931.61. Following the completion of the transaction, the director now owns 18,789 shares in the company, valued at approximately $1,389,822.33. This represents 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. Also, General Counsel Michael S. Kerr sold 517 shares of the company’s stock in a transaction on Wednesday, September 11th. The stock was sold at an average price of $70.86, for a total transaction of $36,634.62. Following the transaction, the general counsel now owns 61,130 shares of the company’s stock, valued at approximately $4,331,671.80. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 41,963 shares of company stock valued at $3,109,699 over the last three months. Insiders own 3.00% of the company’s stock.

Institutional Investors Weigh In On Q2

A number of hedge funds have recently bought and sold shares of QTWO. Hood River Capital Management LLC purchased a new stake in Q2 during the first quarter valued at $62,765,000. American Century Companies Inc. raised its stake in shares of Q2 by 5,990.6% in the second quarter. American Century Companies Inc. now owns 1,210,143 shares of the technology company’s stock valued at $73,008,000 after acquiring an additional 1,190,274 shares during the period. Perpetual Ltd purchased a new stake in shares of Q2 in the third quarter valued at $80,788,000. Price T Rowe Associates Inc. MD grew its holdings in shares of Q2 by 1,910.0% in the first quarter. Price T Rowe Associates Inc. MD now owns 719,767 shares of the technology company’s stock worth $37,832,000 after purchasing an additional 683,957 shares during the last quarter. Finally, Venturi Wealth Management LLC increased its stake in Q2 by 139.5% in the 3rd quarter. Venturi Wealth Management LLC now owns 608,721 shares of the technology company’s stock worth $48,558,000 after buying an additional 354,524 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.