Q2 (NYSE:QTWO) Price Target Lowered to $90.00 at Needham & Company LLC

Q2 (NYSE:QTWO) had its price objective dropped by analysts at Needham & Company LLC from $115.00 to $90.00 in a report released on Thursday,Benzinga reports. The brokerage presently has a “buy” rating on the technology company’s stock. Needham & Company LLC’s price objective would suggest a potential upside of 47.10% from the company’s previous close.

A number of other research analysts also recently issued reports on the company. Stifel Nicolaus cut their price objective on Q2 from $110.00 to $90.00 and set a “buy” rating for the company in a research note on Wednesday, October 15th. Zacks Research downgraded Q2 from a “strong-buy” rating to a “hold” rating in a research note on Monday, September 29th. Cantor Fitzgerald dropped their price target on Q2 from $110.00 to $90.00 and set an “overweight” rating for the company in a research note on Wednesday, October 29th. JPMorgan Chase & Co. decreased their price objective on Q2 from $115.00 to $110.00 and set an “overweight” rating on the stock in a report on Wednesday, September 24th. Finally, Wall Street Zen cut Q2 from a “buy” rating to a “hold” rating in a report on Friday, September 26th. Nine investment analysts have rated the stock with a Buy rating and ten have issued a Hold rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $97.88.

Q2 Trading Up 1.1%

Shares of NYSE:QTWO opened at $61.18 on Thursday. The stock has a 50 day moving average of $70.47 and a 200 day moving average of $80.36. The company has a market cap of $3.82 billion, a PE ratio of 1,223.92 and a beta of 1.48. Q2 has a 12-month low of $58.57 and a 12-month high of $112.82.

Q2 (NYSE:QTWO) last announced its quarterly earnings data on Wednesday, November 5th. The technology company reported $0.23 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.55 by ($0.32). The company had revenue of $201.70 million for the quarter, compared to the consensus estimate of $197.87 million. Q2 had a net margin of 0.66% and a return on equity of 7.57%. The company’s revenue was up 15.2% compared to the same quarter last year. During the same quarter last year, the firm posted ($0.20) earnings per share. Q2 has set its FY 2025 guidance at EPS. Q4 2025 guidance at EPS. Equities research analysts predict that Q2 will post 0.67 earnings per share for the current fiscal year.

Insider Activity at Q2

In related news, Director James Offerdahl sold 786 shares of the stock in a transaction on Tuesday, August 12th. The stock was sold at an average price of $74.15, for a total transaction of $58,281.90. Following the sale, the director owned 17,792 shares in the company, valued at approximately $1,319,276.80. This represents a 4.23% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, General Counsel Michael S. Kerr sold 967 shares of the stock in a transaction on Monday, September 15th. The shares were sold at an average price of $82.60, for a total value of $79,874.20. Following the sale, the general counsel owned 56,228 shares in the company, valued at $4,644,432.80. The trade was a 1.69% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders have sold 8,499 shares of company stock worth $650,658. Company insiders own 0.31% of the company’s stock.

Hedge Funds Weigh In On Q2

Several hedge funds have recently bought and sold shares of the business. Invesco Ltd. grew its position in Q2 by 4.8% in the 2nd quarter. Invesco Ltd. now owns 2,803,611 shares of the technology company’s stock valued at $262,390,000 after acquiring an additional 128,387 shares during the last quarter. Wasatch Advisors LP grew its position in Q2 by 1.2% in the 2nd quarter. Wasatch Advisors LP now owns 2,098,037 shares of the technology company’s stock valued at $196,355,000 after acquiring an additional 25,493 shares during the last quarter. Massachusetts Financial Services Co. MA grew its position in Q2 by 11.7% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 2,039,416 shares of the technology company’s stock valued at $147,633,000 after acquiring an additional 213,415 shares during the last quarter. Geode Capital Management LLC grew its position in Q2 by 1.9% in the 2nd quarter. Geode Capital Management LLC now owns 1,470,279 shares of the technology company’s stock valued at $137,620,000 after acquiring an additional 26,858 shares during the last quarter. Finally, Jennison Associates LLC grew its position in Q2 by 3.1% in the 2nd quarter. Jennison Associates LLC now owns 1,342,772 shares of the technology company’s stock valued at $125,670,000 after acquiring an additional 41,000 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.