Q2 (NYSE:QTWO) Given New $106.00 Price Target at The Goldman Sachs Group

Q2 (NYSE:QTWO) had its target price decreased by The Goldman Sachs Group from $119.00 to $106.00 in a research report report published on Friday morning,Benzinga reports. The Goldman Sachs Group currently has a buy rating on the technology company’s stock.

A number of other analysts have also recently weighed in on QTWO. Baird R W cut shares of Q2 from a “strong-buy” rating to a “hold” rating in a research note on Friday, January 10th. Truist Financial restated a “buy” rating and set a $110.00 price objective (up previously from $100.00) on shares of Q2 in a research report on Thursday, February 13th. Needham & Company LLC increased their target price on Q2 from $120.00 to $125.00 and gave the company a “buy” rating in a research report on Thursday, February 13th. Royal Bank of Canada boosted their price target on Q2 from $105.00 to $108.00 and gave the stock a “sector perform” rating in a report on Thursday, February 13th. Finally, Citigroup raised their price objective on shares of Q2 from $96.00 to $100.00 and gave the company a “neutral” rating in a report on Thursday, February 13th. Seven equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $105.47.

Q2 Price Performance

Shares of QTWO stock opened at $80.71 on Friday. Q2 has a twelve month low of $46.50 and a twelve month high of $112.82. The company has a quick ratio of 1.40, a current ratio of 1.40 and a debt-to-equity ratio of 0.58. The business has a fifty day simple moving average of $86.84 and a 200 day simple moving average of $90.52. The company has a market cap of $4.90 billion, a P/E ratio of -124.16 and a beta of 1.62.

Q2 (NYSE:QTWO) last posted its earnings results on Wednesday, February 12th. The technology company reported $0.18 EPS for the quarter, missing analysts’ consensus estimates of $0.48 by ($0.30). Q2 had a positive return on equity of 0.85% and a negative net margin of 5.53%. On average, sell-side analysts forecast that Q2 will post 0.67 EPS for the current fiscal year.

Insider Transactions at Q2

In other Q2 news, CEO Matthew P. Flake sold 56,799 shares of the company’s stock in a transaction on Thursday, March 6th. The shares were sold at an average price of $78.28, for a total transaction of $4,446,225.72. Following the sale, the chief executive officer now owns 453,849 shares of the company’s stock, valued at approximately $35,527,299.72. This represents a 11.12 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director James Offerdahl sold 1,000 shares of Q2 stock in a transaction dated Monday, February 24th. The stock was sold at an average price of $87.96, for a total value of $87,960.00. Following the completion of the transaction, the director now directly owns 17,241 shares of the company’s stock, valued at approximately $1,516,518.36. This trade represents a 5.48 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 157,835 shares of company stock worth $11,959,517 over the last three months. 3.00% of the stock is owned by company insiders.

Hedge Funds Weigh In On Q2

Institutional investors have recently added to or reduced their stakes in the business. Highland Capital Management LLC grew its position in shares of Q2 by 6.6% during the 4th quarter. Highland Capital Management LLC now owns 2,775 shares of the technology company’s stock worth $279,000 after buying an additional 172 shares during the period. Arizona State Retirement System grew its holdings in Q2 by 1.1% in the fourth quarter. Arizona State Retirement System now owns 17,495 shares of the technology company’s stock worth $1,761,000 after purchasing an additional 190 shares during the period. Summit Investment Advisors Inc. increased its stake in Q2 by 3.3% in the fourth quarter. Summit Investment Advisors Inc. now owns 6,156 shares of the technology company’s stock valued at $620,000 after purchasing an additional 195 shares in the last quarter. Moran Wealth Management LLC raised its holdings in shares of Q2 by 2.7% during the fourth quarter. Moran Wealth Management LLC now owns 8,115 shares of the technology company’s stock valued at $817,000 after purchasing an additional 215 shares during the period. Finally, NewEdge Advisors LLC boosted its position in shares of Q2 by 269.6% during the 4th quarter. NewEdge Advisors LLC now owns 377 shares of the technology company’s stock worth $38,000 after purchasing an additional 275 shares in the last quarter.

About Q2

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.