Q2 (NYSE:QTWO) Price Target Raised to $90.00

Q2 (NYSE:QTWO) had its price objective boosted by JPMorgan Chase & Co. from $78.00 to $90.00 in a research report released on Thursday morning, BenzingaRatingsTable reports. They currently have an overweight rating on the technology company’s stock.

QTWO has been the topic of several other reports. Wells Fargo & Co lifted their price objective on Q2 from $75.00 to $80.00 and gave the company an outperform rating in a research report on Thursday, May 9th. Craig Hallum reaffirmed a buy rating and set a $85.00 price objective (up from $80.00) on shares of Q2 in a research report on Thursday, May 9th. Finally, Zacks Investment Research cut Q2 from a hold rating to a sell rating in a research report on Wednesday, July 10th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and eleven have assigned a buy rating to the company. The stock has a consensus rating of Buy and an average price target of $78.17.

Q2 stock traded up $1.05 during trading hours on Thursday, hitting $87.06. 707,828 shares of the stock traded hands, compared to its average volume of 416,049. The business’s 50-day moving average price is $78.66. The company has a current ratio of 2.08, a quick ratio of 2.08 and a debt-to-equity ratio of 1.40. The stock has a market capitalization of $3.80 billion, a P/E ratio of -235.30 and a beta of 1.38. Q2 has a one year low of $43.41 and a one year high of $89.39.

Q2 (NYSE:QTWO) last posted its quarterly earnings data on Wednesday, August 7th. The technology company reported ($0.20) earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.21) by $0.01. The business had revenue of $77.60 million for the quarter, compared to analysts’ expectations of $76.10 million. Q2 had a negative return on equity of 18.28% and a negative net margin of 20.73%. The business’s revenue was up 32.0% on a year-over-year basis. During the same period in the previous year, the firm posted $0.01 EPS. On average, equities research analysts predict that Q2 will post -0.65 earnings per share for the current year.

In other news, insider Matthew P. Flake sold 25,000 shares of the business’s stock in a transaction that occurred on Wednesday, July 31st. The stock was sold at an average price of $80.52, for a total value of $2,013,000.00. Following the sale, the insider now directly owns 323,999 shares of the company’s stock, valued at approximately $26,088,399.48. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, insider Adam D. Blue sold 15,000 shares of the business’s stock in a transaction that occurred on Friday, May 24th. The stock was sold at an average price of $73.38, for a total transaction of $1,100,700.00. Following the completion of the transaction, the insider now owns 81,442 shares of the company’s stock, valued at $5,976,213.96. The disclosure for this sale can be found here. Over the last three months, insiders sold 480,537 shares of company stock worth $35,941,718. Insiders own 12.80% of the company’s stock.

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Artisan Partners Limited Partnership raised its holdings in Q2 by 0.8% in the 1st quarter. Artisan Partners Limited Partnership now owns 1,721,082 shares of the technology company’s stock worth $119,202,000 after acquiring an additional 13,407 shares during the last quarter. Champlain Investment Partners LLC raised its holdings in Q2 by 1.4% in the 1st quarter. Champlain Investment Partners LLC now owns 1,270,670 shares of the technology company’s stock worth $88,007,000 after acquiring an additional 17,400 shares during the last quarter. Wasatch Advisors Inc. raised its holdings in Q2 by 39.2% in the 1st quarter. Wasatch Advisors Inc. now owns 1,043,133 shares of the technology company’s stock worth $72,247,000 after acquiring an additional 293,892 shares during the last quarter. Stephens Investment Management Group LLC raised its holdings in Q2 by 0.6% in the 2nd quarter. Stephens Investment Management Group LLC now owns 734,848 shares of the technology company’s stock worth $56,113,000 after acquiring an additional 4,633 shares during the last quarter. Finally, Norges Bank purchased a new position in Q2 in the 4th quarter worth approximately $25,818,000. Institutional investors own 98.83% of the company’s stock.

Q2 Company Profile

Q2 Holdings, Inc provides cloud-based digital banking solutions to regional and community financial institutions (RCFIs) in the United States. It offers Q2 Digital Banking and Transactions, a browser-based digital banking solution that delivers RCFI-branded digital banking capabilities; Q2mobility App, a mobile and tablet digital banking solution; Q2mobile Remote Deposit Capture, a partnered solution that allows remote check deposit capture; and Q2 Person-to-Person Payments, a partnered secure and integrated person-to-person payments solution.

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Analyst Recommendations for Q2 (NYSE:QTWO)

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