Q2 (NYSE:QTWO) Price Target Lowered to $110.00 at Needham & Company LLC

Q2 (NYSE:QTWO) had its price target reduced by Needham & Company LLC from $125.00 to $110.00 in a report issued on Thursday,Benzinga reports. Needham & Company LLC currently has a buy rating on the technology company’s stock.

Several other analysts also recently issued reports on QTWO. Baird R W downgraded shares of Q2 from a “strong-buy” rating to a “hold” rating in a research note on Friday, January 10th. Robert W. Baird reissued a “neutral” rating and set a $99.00 price target (up from $89.00) on shares of Q2 in a research note on Friday, January 10th. Stephens reaffirmed an “overweight” rating and issued a $115.00 price objective on shares of Q2 in a research report on Thursday, February 13th. Raymond James lifted their target price on Q2 from $100.00 to $110.00 and gave the stock an “outperform” rating in a research report on Thursday, February 13th. Finally, Royal Bank of Canada upped their price target on shares of Q2 from $105.00 to $108.00 and gave the stock a “sector perform” rating in a report on Thursday, February 13th. Eight research analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to MarketBeat.com, Q2 has an average rating of “Moderate Buy” and a consensus target price of $98.80.

Q2 Trading Down 1.3 %

Shares of QTWO stock opened at $89.58 on Thursday. The company has a market cap of $5.58 billion, a PE ratio of -137.81 and a beta of 1.47. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.40 and a quick ratio of 1.40. The stock’s 50 day simple moving average is $77.63 and its two-hundred day simple moving average is $90.19. Q2 has a 1 year low of $55.97 and a 1 year high of $112.82.

Q2 (NYSE:QTWO) last posted its quarterly earnings data on Wednesday, February 12th. The technology company reported $0.18 earnings per share for the quarter, missing analysts’ consensus estimates of $0.48 by ($0.30). Q2 had a negative net margin of 5.53% and a positive return on equity of 0.85%. Research analysts predict that Q2 will post 0.67 earnings per share for the current year.

Insider Buying and Selling

In related news, Director James Offerdahl sold 1,000 shares of the business’s stock in a transaction that occurred on Monday, February 24th. The shares were sold at an average price of $87.96, for a total transaction of $87,960.00. Following the completion of the transaction, the director now owns 17,241 shares in the company, valued at $1,516,518.36. The trade was a 5.48 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Matthew P. Flake sold 56,799 shares of the firm’s stock in a transaction that occurred 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 completion of the sale, the chief executive officer now owns 453,849 shares of the company’s stock, valued at approximately $35,527,299.72. This trade represents a 11.12 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 193,858 shares of company stock valued at $14,853,965 over the last 90 days. Corporate insiders own 3.00% of the company’s stock.

Institutional Trading of Q2

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Highland Capital Management LLC raised its stake in Q2 by 6.6% in the fourth quarter. Highland Capital Management LLC now owns 2,775 shares of the technology company’s stock valued at $279,000 after buying an additional 172 shares during the last quarter. Arizona State Retirement System raised its position in shares of Q2 by 1.1% in the 4th quarter. Arizona State Retirement System now owns 17,495 shares of the technology company’s stock valued at $1,761,000 after purchasing an additional 190 shares during the last quarter. Summit Investment Advisors Inc. boosted its stake in Q2 by 3.3% in the 4th quarter. Summit Investment Advisors Inc. now owns 6,156 shares of the technology company’s stock worth $620,000 after purchasing an additional 195 shares in the last quarter. Moran Wealth Management LLC grew its position in Q2 by 2.7% during the 4th quarter. Moran Wealth Management LLC now owns 8,115 shares of the technology company’s stock worth $817,000 after purchasing an additional 215 shares during the last quarter. Finally, Xponance Inc. increased its stake in Q2 by 5.1% during the 1st quarter. Xponance Inc. now owns 4,576 shares of the technology company’s stock valued at $366,000 after purchasing an additional 224 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.