Q2 (NYSE:QTWO) Given New $93.00 Price Target at Piper Sandler

Q2 (NYSE:QTWO) had its price objective lifted by Piper Sandler from $74.00 to $93.00 in a research report released on Thursday morning,Benzinga reports. The brokerage currently has a neutral rating on the technology company’s stock.

A number of other analysts also recently commented on QTWO. BTIG Research boosted their price target on shares of Q2 from $75.00 to $82.00 and gave the stock a “buy” rating in a research report on Monday, August 26th. The Goldman Sachs Group upped their target price on Q2 from $59.00 to $86.00 and gave the stock a “buy” rating in a research report on Thursday, August 1st. Compass Point assumed coverage on Q2 in a research report on Wednesday, September 4th. They set a “buy” rating and a $91.00 price target on the stock. Stifel Nicolaus upped their price objective on Q2 from $65.00 to $85.00 and gave the company a “buy” rating in a report on Thursday, August 1st. Finally, DA Davidson reaffirmed a “neutral” rating and set a $76.00 target price on shares of Q2 in a research note on Monday, September 30th. Five research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. Based on data from MarketBeat.com, Q2 has a consensus rating of “Moderate Buy” and an average price target of $90.79.

Q2 Stock Performance

Shares of NYSE:QTWO traded up $0.53 during trading on Thursday, hitting $102.78. 842,638 shares of the company traded hands, compared to its average volume of 593,743. The business’s fifty day moving average is $79.80 and its 200-day moving average is $69.08. 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 has a one year low of $32.97 and a one year high of $105.00.

Q2 (NYSE:QTWO) last issued its quarterly earnings data on Wednesday, November 6th. The technology company reported ($0.03) earnings per share for the quarter, beating the consensus estimate of ($0.04) by $0.01. Q2 had a negative net margin of 8.40% and a negative return on equity of 2.34%. The firm had revenue of $175.02 million for the quarter, compared to the consensus estimate of $173.31 million. As a group, sell-side analysts predict that Q2 will post -0.02 earnings per share for the current fiscal year.

Insider Activity

In other news, General Counsel Michael S. Kerr sold 517 shares of the company’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 value of $36,634.62. Following the completion of the transaction, the general counsel now owns 61,130 shares in the company, valued at $4,331,671.80. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, General Counsel Michael S. Kerr sold 517 shares of the business’s stock in a transaction dated Wednesday, September 11th. The stock was sold at an average price of $70.86, for a total value of $36,634.62. Following the sale, the general counsel now directly owns 61,130 shares in the company, valued at $4,331,671.80. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director James Offerdahl sold 1,013 shares of the company’s stock in a transaction dated Wednesday, August 28th. The stock was sold at an average price of $73.97, for a total value of $74,931.61. Following the transaction, the director now directly owns 18,789 shares of the company’s stock, valued at $1,389,822.33. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 41,963 shares of company stock worth $3,109,699 in the last 90 days. Corporate insiders own 3.00% of the company’s stock.

Institutional Trading of Q2

A number of institutional investors have recently made changes to their positions in QTWO. CWM LLC increased its stake in Q2 by 54.2% in the 2nd quarter. CWM LLC now owns 481 shares of the technology company’s stock valued at $29,000 after buying an additional 169 shares during the last quarter. International Assets Investment Management LLC increased its position in shares of Q2 by 7,878.3% in the third quarter. International Assets Investment Management LLC now owns 1,835 shares of the technology company’s stock valued at $146,000 after acquiring an additional 1,812 shares during the last quarter. Asset Management One Co. Ltd. increased its position in shares of Q2 by 108.1% in the third quarter. Asset Management One Co. Ltd. now owns 1,856 shares of the technology company’s stock valued at $148,000 after acquiring an additional 964 shares during the last quarter. Quest Partners LLC bought a new stake in Q2 during the second quarter worth about $153,000. Finally, SG Americas Securities LLC acquired a new position in Q2 during the first quarter valued at approximately $173,000.

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.