JPMorgan Chase & Co. Has Lowered Expectations for Q2 (NYSE:QTWO) Stock Price

Q2 (NYSE:QTWO) had its target price lowered by JPMorgan Chase & Co. from $100.00 to $75.00 in a research note issued on Wednesday,Benzinga reports. The brokerage presently has an “overweight” rating on the technology company’s stock. JPMorgan Chase & Co.‘s price target would suggest a potential upside of 42.78% from the company’s previous close.

A number of other research analysts have also recently weighed in on QTWO. Needham & Company LLC dropped their price objective on shares of Q2 from $90.00 to $70.00 and set a “buy” rating for the company in a research note on Thursday, February 12th. Cantor Fitzgerald lowered their target price on Q2 from $90.00 to $80.00 and set an “overweight” rating on the stock in a report on Thursday, February 12th. Wall Street Zen raised Q2 from a “hold” rating to a “buy” rating in a report on Saturday, November 8th. UBS Group set a $67.00 price objective on Q2 in a research report on Thursday, February 12th. Finally, Zacks Research upgraded Q2 from a “hold” rating to a “strong-buy” rating in a research report on Friday, February 13th. One analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and five have assigned a Hold rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $79.29.

Q2 Stock Down 0.1%

Shares of Q2 stock traded down $0.06 on Wednesday, hitting $52.53. The company’s stock had a trading volume of 227,421 shares, compared to its average volume of 939,895. The company has a market capitalization of $3.28 billion, a P/E ratio of 66.64 and a beta of 1.36. Q2 has a 52-week low of $51.34 and a 52-week high of $96.68. The firm has a fifty day moving average price of $66.85 and a 200-day moving average price of $70.14.

Insider Activity

In other news, COO Himagiri K. Mukkamala sold 3,024 shares of Q2 stock in a transaction that occurred on Wednesday, December 10th. The stock was sold at an average price of $73.68, for a total value of $222,808.32. Following the completion of the transaction, the chief operating officer owned 96,046 shares in the company, valued at approximately $7,076,669.28. This trade represents a 3.05% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Kirk L. Coleman sold 8,559 shares of the business’s stock in a transaction dated Wednesday, December 10th. The shares were sold at an average price of $73.68, for a total transaction of $630,627.12. Following the sale, the insider directly owned 269,128 shares of the company’s stock, valued at approximately $19,829,351.04. This represents a 3.08% decrease in their position. The SEC filing for this sale provides additional information. In the last 90 days, insiders have sold 20,883 shares of company stock worth $1,547,778. 0.31% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Q2

Several hedge funds and other institutional investors have recently made changes to their positions in QTWO. Headlands Technologies LLC acquired a new stake in Q2 in the 2nd quarter valued at approximately $26,000. Measured Wealth Private Client Group LLC acquired a new position in shares of Q2 during the third quarter valued at $26,000. Caitong International Asset Management Co. Ltd bought a new stake in shares of Q2 during the fourth quarter valued at about $27,000. Cullen Frost Bankers Inc. acquired a new stake in Q2 in the third quarter worth about $27,000. Finally, Salomon & Ludwin LLC acquired a new stake in Q2 in the third quarter worth about $30,000.

About Q2

Q2 Holdings, Inc develops and delivers cloud-based digital banking solutions that enable banks and credit unions to enhance customer and member experiences. The company’s core offerings include the Q2 Platform, a comprehensive suite of online and mobile banking applications for retail and commercial customers, as well as digital onboarding, payments, and fraud prevention tools. Q2’s platform also provides analytics and reporting capabilities designed to help financial institutions tailor products, optimize workflows, and drive engagement.

Founded in 2004 and headquartered in Austin, Texas, Q2 serves hundreds of financial institutions across the United States and Canada.