Q2 (NYSE:QTWO) Price Target Lowered to $61.00 at Robert W. Baird

Q2 (NYSE:QTWOGet Rating) had its price objective trimmed by Robert W. Baird from $77.00 to $61.00 in a report released on Friday morning, The Fly reports. The brokerage currently has an outperform rating on the technology company’s stock.

A number of other equities research analysts also recently weighed in on the stock. Needham & Company LLC cut their price target on shares of Q2 from $68.00 to $62.00 and set a buy rating for the company in a report on Friday. Raymond James cut their price target on shares of Q2 from $75.00 to $65.00 and set an outperform rating for the company in a report on Friday. Stephens upped their price objective on shares of Q2 to $55.00 in a research note on Thursday, May 26th. Truist Financial reduced their price objective on shares of Q2 from $125.00 to $85.00 in a research note on Wednesday, May 4th. Finally, StockNews.com lowered shares of Q2 from a hold rating to a sell rating in a research note on Friday, May 13th. One analyst has rated the stock with a sell rating, three have issued a hold rating and six have assigned a buy rating to the company. According to MarketBeat, the stock has an average rating of Moderate Buy and a consensus target price of $73.58.

Q2 Price Performance

Shares of NYSE QTWO opened at $43.92 on Friday. Q2 has a twelve month low of $34.42 and a twelve month high of $92.89. The company has a debt-to-equity ratio of 1.47, a current ratio of 2.98 and a quick ratio of 2.98. The firm has a 50-day moving average of $42.08 and a two-hundred day moving average of $52.38.

Insider Buying and Selling

In related news, CRO Michael A. Volanoski sold 2,593 shares of the stock in a transaction that occurred on Friday, June 10th. The stock was sold at an average price of $40.25, for a total value of $104,368.25. Following the transaction, the executive now owns 69,136 shares in the company, valued at $2,782,724. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 3.50% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Q2

Several hedge funds and other institutional investors have recently added to or reduced their stakes in QTWO. Advisor Group Holdings Inc. boosted its position in shares of Q2 by 4.8% in the fourth quarter. Advisor Group Holdings Inc. now owns 3,849 shares of the technology company’s stock valued at $307,000 after acquiring an additional 176 shares during the period. Fifth Third Bancorp boosted its position in shares of Q2 by 39.3% in the first quarter. Fifth Third Bancorp now owns 815 shares of the technology company’s stock valued at $50,000 after acquiring an additional 230 shares during the period. First Bank & Trust boosted its position in shares of Q2 by 10.7% in the first quarter. First Bank & Trust now owns 2,902 shares of the technology company’s stock valued at $179,000 after acquiring an additional 280 shares during the period. Quadrant Capital Group LLC boosted its position in shares of Q2 by 65.5% in the fourth quarter. Quadrant Capital Group LLC now owns 710 shares of the technology company’s stock valued at $56,000 after acquiring an additional 281 shares during the period. Finally, Mitsubishi UFJ Kokusai Asset Management Co. Ltd. boosted its position in shares of Q2 by 13.4% in the first quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 2,497 shares of the technology company’s stock valued at $154,000 after acquiring an additional 295 shares during the period.

About Q2

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Q2 Holdings, Inc provides cloud-based digital banking solutions to regional and community financial institutions (RCFIs) in the United States. The company offers Q2 Consumer Banking, a browser-based digital banking solution and comprehensive financial institution branded digital banking capabilities; Q2 Small Business and Commercial, a mobile and tablet digital banking solution; Q2mobile Remote Deposit Capture, a partnered solution that allows remote check deposit capture.

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