Q2 (NYSE:QTWO) PT Raised to $90.00 at Needham & Company LLC

Q2 (NYSE:QTWO) had its target price hoisted by Needham & Company LLC from $65.00 to $90.00 in a report released on Thursday morning, Benzinga reports. The brokerage currently has a buy rating on the technology company’s stock.

Several other equities research analysts have also recently commented on the stock. Piper Sandler lifted their price target on shares of Q2 from $47.00 to $61.00 and gave the stock a neutral rating in a research report on Friday, May 3rd. BTIG Research upped their target price on shares of Q2 from $60.00 to $75.00 and gave the company a buy rating in a research report on Thursday. Morgan Stanley restated an equal weight rating and issued a $50.00 price target (up from $40.00) on shares of Q2 in a research report on Thursday, May 2nd. Truist Financial reiterated a buy rating and issued a $78.00 price objective (up previously from $68.00) on shares of Q2 in a report on Thursday. Finally, The Goldman Sachs Group boosted their target price on Q2 from $59.00 to $86.00 and gave the stock a buy rating in a research report on Thursday. Five research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of Moderate Buy and a consensus price target of $65.86.

Q2 Trading Down 4.8 %

QTWO stock opened at $66.70 on Thursday. The company has a quick ratio of 2.38, a current ratio of 2.44 and a debt-to-equity ratio of 1.02. Q2 has a twelve month low of $28.91 and a twelve month high of $75.94. The company has a market cap of $4.02 billion, a P/E ratio of -49.41 and a beta of 1.54. The business has a fifty day moving average of $62.67 and a 200-day moving average of $54.74.

Insider Buying and Selling

In other Q2 news, insider Kimberly Anne Rutledge sold 1,953 shares of the firm’s stock in a transaction that occurred on Thursday, July 11th. The stock was sold at an average price of $65.00, for a total value of $126,945.00. Following the completion of the transaction, the insider now directly owns 115,436 shares in the company, valued at $7,503,340. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. In related news, Director Jeffrey T. Diehl sold 27,248 shares of Q2 stock in a transaction dated Wednesday, May 29th. The stock was sold at an average price of $62.51, for a total transaction of $1,703,272.48. Following the completion of the transaction, the director now owns 750,314 shares in the company, valued at $46,902,128.14. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Kimberly Anne Rutledge sold 1,953 shares of the company’s stock in a transaction that occurred on Thursday, July 11th. The shares were sold at an average price of $65.00, for a total value of $126,945.00. Following the completion of the sale, the insider now owns 115,436 shares in the company, valued at approximately $7,503,340. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 84,637 shares of company stock worth $5,224,320. Corporate insiders own 3.60% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the business. CWM LLC increased its holdings in shares of Q2 by 54.2% in the second quarter. CWM LLC now owns 481 shares of the technology company’s stock valued at $29,000 after purchasing an additional 169 shares during the last quarter. MCF Advisors LLC raised its holdings in Q2 by 156.5% in the 4th quarter. MCF Advisors LLC now owns 613 shares of the technology company’s stock valued at $27,000 after acquiring an additional 374 shares during the period. International Assets Investment Management LLC boosted its holdings in shares of Q2 by 2,582.4% during the fourth quarter. International Assets Investment Management LLC now owns 912 shares of the technology company’s stock worth $40,000 after acquiring an additional 878 shares during the period. Fidelis Capital Partners LLC acquired a new position in shares of Q2 in the first quarter valued at approximately $50,000. Finally, Arcadia Investment Management Corp MI increased its stake in shares of Q2 by 193.7% during the fourth quarter. Arcadia Investment Management Corp MI now owns 1,119 shares of the technology company’s stock worth $49,000 after purchasing an additional 738 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.