Q2 (NYSE:QTWO) Cut to Neutral at DA Davidson

DA Davidson lowered shares of Q2 (NYSE:QTWO) from a buy rating to a neutral rating in a research note released on Wednesday, MarketBeat reports. DA Davidson currently has $76.00 price objective on the technology company’s stock, up from their previous price objective of $65.00.

QTWO has been the subject of several other research reports. Royal Bank of Canada boosted their price objective on Q2 from $46.00 to $60.00 and gave the stock a sector perform rating in a research report on Thursday, May 2nd. BTIG Research upped their price target on Q2 from $48.00 to $60.00 and gave the stock a buy rating in a report on Thursday, May 2nd. Piper Sandler raised their price objective on shares of Q2 from $47.00 to $61.00 and gave the stock a neutral rating in a research note on Friday, May 3rd. Truist Financial reiterated a buy rating and set a $68.00 target price on shares of Q2 in a research note on Monday, July 1st. Finally, Robert W. Baird raised their price target on shares of Q2 from $60.00 to $65.00 and gave the stock an outperform rating in a research report on Thursday, May 2nd. Five equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of Moderate Buy and a consensus price target of $56.27.

Q2 Price Performance

Shares of NYSE:QTWO opened at $68.99 on Wednesday. The stock has a market capitalization of $4.15 billion, a P/E ratio of -51.10 and a beta of 1.55. The business has a 50-day moving average of $62.16 and a two-hundred day moving average of $53.68. Q2 has a fifty-two week low of $28.91 and a fifty-two week high of $71.08. The company has a debt-to-equity ratio of 1.06, a current ratio of 2.38 and a quick ratio of 2.38.

Q2 (NYSE:QTWO) last posted its earnings results on Wednesday, May 1st. The technology company reported ($0.04) earnings per share for the quarter, topping the consensus estimate of ($0.05) by $0.01. Q2 had a negative return on equity of 5.88% and a negative net margin of 12.35%. The firm had revenue of $165.51 million during the quarter, compared to analyst estimates of $163.58 million. On average, equities research analysts predict that Q2 will post -0.05 EPS for the current fiscal year.

Insider Transactions at Q2

In other Q2 news, EVP Jonathan Price sold 11,000 shares of Q2 stock in a transaction on Thursday, June 27th. The stock was sold at an average price of $60.00, for a total transaction of $660,000.00. Following the completion of the transaction, the executive vice president now directly owns 226,079 shares of the company’s stock, valued at $13,564,740. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In related news, Director R. H. Seale sold 598 shares of the stock in a transaction that occurred on Monday, June 10th. The stock was sold at an average price of $61.26, for a total transaction of $36,633.48. Following the sale, the director now directly owns 420,171 shares in the company, valued at approximately $25,739,675.46. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, EVP Jonathan Price sold 11,000 shares of Q2 stock in a transaction on Thursday, June 27th. The shares were sold at an average price of $60.00, for a total value of $660,000.00. Following the completion of the transaction, the executive vice president now owns 226,079 shares of the company’s stock, valued at approximately $13,564,740. The disclosure for this sale can be found here. In the last ninety days, insiders sold 84,637 shares of company stock valued at $5,224,320. Corporate insiders own 3.60% of the company’s stock.

Institutional Trading of Q2

Hedge funds and other institutional investors have recently made changes to their positions in the business. Nordea Investment Management AB increased its holdings in shares of Q2 by 45.2% in the first quarter. Nordea Investment Management AB now owns 64,826 shares of the technology company’s stock valued at $3,456,000 after purchasing an additional 20,195 shares in the last quarter. Jennison Associates LLC increased its stake in shares of Q2 by 14.6% in the 1st quarter. Jennison Associates LLC now owns 1,852,407 shares of the technology company’s stock valued at $97,363,000 after buying an additional 235,582 shares during the period. Summit Creek Advisors LLC bought a new stake in shares of Q2 during the fourth quarter worth $9,170,000. PEAK6 Investments LLC lifted its stake in shares of Q2 by 68.8% during the fourth quarter. PEAK6 Investments LLC now owns 69,205 shares of the technology company’s stock valued at $3,004,000 after acquiring an additional 28,215 shares during the period. Finally, Principal Financial Group Inc. boosted its holdings in Q2 by 67.4% in the fourth quarter. Principal Financial Group Inc. now owns 39,605 shares of the technology company’s stock valued at $1,719,000 after acquiring an additional 15,942 shares during the last quarter.

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.