Q2 (NYSE:QTWO) Price Target Lowered to $106.00 at The Goldman Sachs Group

Q2 (NYSE:QTWO) had its target price cut by investment analysts at The Goldman Sachs Group from $119.00 to $106.00 in a research report issued to clients and investors on Friday,Benzinga reports. The firm presently has a “buy” rating on the technology company’s stock. The Goldman Sachs Group’s price target would suggest a potential upside of 31.50% from the company’s current price.

A number of other brokerages have also recently weighed in on QTWO. Royal Bank of Canada lifted their price target on shares of Q2 from $105.00 to $108.00 and gave the company a “sector perform” rating in a research report on Thursday, February 13th. Truist Financial reissued a “buy” rating and set a $110.00 price objective (up from $100.00) on shares of Q2 in a research report on Thursday, February 13th. Baird R W cut shares of Q2 from a “strong-buy” rating to a “hold” rating in a report on Friday, January 10th. Needham & Company LLC increased their price target on shares of Q2 from $120.00 to $125.00 and gave the stock a “buy” rating in a research note on Thursday, February 13th. Finally, Robert W. Baird reissued a “neutral” rating and set a $99.00 price objective (up from $89.00) on shares of Q2 in a research report on Friday, January 10th. Seven research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $105.47.

Q2 Price Performance

Q2 stock traded down $2.11 during midday trading on Friday, reaching $80.61. The company had a trading volume of 143,893 shares, compared to its average volume of 637,456. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.40 and a quick ratio of 1.40. Q2 has a 12-month low of $46.50 and a 12-month high of $112.82. The company has a market capitalization of $4.90 billion, a P/E ratio of -124.04 and a beta of 1.62. The firm’s fifty day simple moving average is $87.11 and its 200-day simple moving average is $90.47.

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

Insider Buying and Selling

In other Q2 news, Director James Offerdahl sold 1,000 shares of the company’s stock in a transaction that occurred on 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 owns 17,241 shares in the company, valued at $1,516,518.36. This represents a 5.48 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Kimberly Anne Rutledge sold 6,656 shares of Q2 stock in a transaction that occurred on Wednesday, March 12th. The shares were sold at an average price of $74.12, for a total transaction of $493,342.72. Following the sale, the insider now owns 113,278 shares in the company, valued at $8,396,165.36. This represents a 5.55 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 157,835 shares of company stock valued at $11,959,517. Company insiders own 3.00% of the company’s stock.

Institutional Trading of Q2

Hedge funds and other institutional investors have recently modified their holdings of the business. BNP Paribas Financial Markets boosted its stake in Q2 by 32.2% during the 3rd quarter. BNP Paribas Financial Markets now owns 30,720 shares of the technology company’s stock valued at $2,451,000 after acquiring an additional 7,475 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in Q2 by 13.5% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 13,307 shares of the technology company’s stock worth $1,061,000 after purchasing an additional 1,584 shares during the period. Rockefeller Capital Management L.P. bought a new position in shares of Q2 in the third quarter valued at approximately $9,847,000. Captrust Financial Advisors boosted its stake in Q2 by 20.1% during the 3rd quarter. Captrust Financial Advisors now owns 4,892 shares of the technology company’s stock valued at $390,000 after purchasing an additional 820 shares in the last quarter. Finally, Edgestream Partners L.P. boosted its stake in Q2 by 99.2% during the third quarter. Edgestream Partners L.P. now owns 76,361 shares of the technology company’s stock valued at $6,091,000 after buying an additional 38,021 shares in the last quarter.

Q2 Company Profile

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.