Piper Sandler Cuts Q2 (NYSE:QTWO) Price Target to $20.00

Q2 (NYSE:QTWO – Get Rating) had its price target cut by Piper Sandler from $26.00 to $20.00 in a research report sent to investors on Tuesday, The Fly reports.

QTWO has been the topic of several other research reports. Raymond James reduced their target price on shares of Q2 from $45.00 to $42.00 and set an outperform rating on the stock in a research note on Wednesday, February 22nd. Needham & Company LLC increased their target price on shares of Q2 from $35.00 to $38.00 and gave the company a buy rating in a research note on Wednesday, February 22nd. Canaccord Genuity Group reissued a buy rating and issued a $60.00 target price on shares of Q2 in a research note on Wednesday, February 22nd. Stephens reduced their price target on shares of Q2 from $38.00 to $32.00 and set an equal weight rating on the stock in a research note on Wednesday, February 22nd. Finally, StockNews.com raised shares of Q2 from a sell rating to a hold rating in a research note on Saturday, November 19th. One analyst has rated the stock with a sell rating, five have issued a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of Hold and an average price target of $45.38.

Q2 Price Performance

Shares of NYSE:QTWO opened at $23.99 on Tuesday. The company has a debt-to-equity ratio of 1.57, a quick ratio of 2.77 and a current ratio of 2.77. The firm has a fifty day moving average price of $31.59 and a 200 day moving average price of $30.85. Q2 has a fifty-two week low of $18.91 and a fifty-two week high of $65.65. The firm has a market cap of $1.39 billion, a price-to-earnings ratio of -12.69 and a beta of 1.48.

Q2 (NYSE:QTWO – Get Rating) last released its quarterly earnings results on Tuesday, February 21st. The technology company reported ($0.23) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.13) by ($0.10). The business had revenue of $146.54 million for the quarter, compared to analysts’ expectations of $149.17 million. Q2 had a negative net margin of 19.27% and a negative return on equity of 11.58%. As a group, sell-side analysts expect that Q2 will post -0.72 earnings per share for the current fiscal year.

Insider Activity

In related news, CRO Michael A. Volanoski sold 2,548 shares of the stock in a transaction that occurred on Monday, March 6th. The shares were sold at an average price of $32.05, for a total value of $81,663.40. Following the completion of the transaction, the executive now directly owns 205,862 shares of the company’s stock, valued at approximately $6,597,877.10. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Q2 news, CRO Michael A. Volanoski sold 2,548 shares of Q2 stock in a transaction on Monday, March 6th. The shares were sold at an average price of $32.05, for a total transaction of $81,663.40. Following the sale, the executive now owns 205,862 shares of the company’s stock, valued at approximately $6,597,877.10. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Matthew P. Flake sold 55,523 shares of the business’s stock in a transaction dated Monday, March 6th. The shares were sold at an average price of $32.06, for a total transaction of $1,780,067.38. Following the transaction, the chief executive officer now directly owns 504,769 shares in the company, valued at approximately $16,182,894.14. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 87,671 shares of company stock worth $2,810,532. Corporate insiders own 3.50% of the company’s stock.

Institutional Trading of Q2

Institutional investors and hedge funds have recently bought and sold shares of the stock. Prudential Financial Inc. increased its stake in Q2 by 5.7% during the first quarter. Prudential Financial Inc. now owns 5,527 shares of the technology company’s stock worth $340,000 after purchasing an additional 296 shares during the period. Edgestream Partners L.P. boosted its holdings in Q2 by 1.3% in the fourth quarter. Edgestream Partners L.P. now owns 24,194 shares of the technology company’s stock valued at $650,000 after purchasing an additional 301 shares in the last quarter. Harbor Investment Advisory LLC boosted its holdings in shares of Q2 by 27.8% in the fourth quarter. Harbor Investment Advisory LLC now owns 1,427 shares of the technology company’s stock valued at $38,000 after acquiring an additional 310 shares during the period. The Manufacturers Life Insurance Company boosted its holdings in shares of Q2 by 1.5% in the fourth quarter. The Manufacturers Life Insurance Company now owns 22,596 shares of the technology company’s stock valued at $607,000 after acquiring an additional 342 shares during the period. Finally, Raymond James & Associates raised its stake in shares of Q2 by 0.4% during the third quarter. Raymond James & Associates now owns 109,237 shares of the technology company’s stock worth $3,517,000 after purchasing an additional 400 shares during the last quarter.

Q2 Company Profile

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Q2 Holdings, Inc engages in the provision of digital banking and lending solutions. It offers its solutions to financial institutions, financial technology companies, alternative finance companies, and other innovative companies, wishing to incorporate banking into their customer engagement and servicing strategies.