Needham & Company LLC Boosts Q2 (NYSE:QTWO) Price Target to $125.00

Q2 (NYSE:QTWO) had its price target upped by investment analysts at Needham & Company LLC from $120.00 to $125.00 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 target price points to a potential upside of 35.78% from the stock’s previous close.

Other equities analysts have also recently issued research reports about the stock. KeyCorp raised shares of Q2 from a “sector weight” rating to an “overweight” rating and set a $126.00 target price on the stock in a research note on Wednesday, December 18th. Compass Point raised their price objective on shares of Q2 from $91.00 to $107.00 and gave the company a “buy” rating in a research note on Thursday, November 7th. Citigroup downgraded Q2 from a “buy” rating to a “neutral” rating and upped their target price for the stock from $72.00 to $90.00 in a research report on Friday, October 18th. The Goldman Sachs Group lifted their price target on Q2 from $86.00 to $103.00 and gave the company a “buy” rating in a research report on Thursday, November 7th. Finally, Stifel Nicolaus boosted their price objective on Q2 from $100.00 to $115.00 and gave the stock a “buy” rating in a research note on Wednesday, December 18th. Seven investment analysts have rated the stock with a hold rating and nine have given a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $98.40.

Q2 Stock Performance

Shares of NYSE QTWO opened at $92.06 on Thursday. Q2 has a 12-month low of $41.23 and a 12-month high of $112.82. The company has a market cap of $5.56 billion, a PE ratio of -95.89 and a beta of 1.61. The stock has a 50 day simple moving average of $99.35 and a 200-day simple moving average of $88.05. The company has a current ratio of 2.50, a quick ratio of 2.50 and a debt-to-equity ratio of 0.99.

Q2 (NYSE:QTWO) last announced its quarterly earnings results on Wednesday, February 12th. The technology company reported $0.18 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.48 by ($0.30). Q2 had a negative return on equity of 2.30% and a negative net margin of 8.40%. On average, equities research analysts forecast that Q2 will post 0.08 EPS for the current year.

Insider Buying and Selling

In other news, President Kirk L. Coleman sold 10,428 shares of the stock in a transaction on Thursday, December 12th. The stock was sold at an average price of $106.42, for a total value of $1,109,747.76. Following the completion of the sale, the president now owns 337,643 shares in the company, valued at $35,931,968.06. This represents a 3.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director James Offerdahl sold 548 shares of Q2 stock in a transaction on Friday, November 22nd. The shares were sold at an average price of $104.95, for a total value of $57,512.60. Following the transaction, the director now owns 18,241 shares in the company, valued at $1,914,392.95. This represents a 2.92 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 28,836 shares of company stock valued at $3,061,035. 3.00% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Q2

A number of institutional investors have recently bought and sold shares of the business. Conestoga Capital Advisors LLC lifted its position in shares of Q2 by 1.5% in the third quarter. Conestoga Capital Advisors LLC now owns 2,308,194 shares of the technology company’s stock worth $184,125,000 after purchasing an additional 34,300 shares in the last quarter. William Blair Investment Management LLC acquired a new position in Q2 in the 4th quarter valued at approximately $202,645,000. State Street Corp lifted its position in Q2 by 0.3% in the 3rd quarter. State Street Corp now owns 1,668,767 shares of the technology company’s stock worth $133,118,000 after buying an additional 5,000 shares in the last quarter. Geode Capital Management LLC boosted its stake in shares of Q2 by 2.7% during the 4th quarter. Geode Capital Management LLC now owns 1,389,181 shares of the technology company’s stock valued at $140,175,000 after buying an additional 36,025 shares during the period. Finally, Massachusetts Financial Services Co. MA grew its holdings in shares of Q2 by 107.9% during the 4th quarter. Massachusetts Financial Services Co. MA now owns 1,345,741 shares of the technology company’s stock valued at $135,449,000 after acquiring an additional 698,464 shares in the last quarter.

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.