Q2 (NYSE:QTWO) Stock Price Expected to Rise, The Goldman Sachs Group Analyst Says

Q2 (NYSE:QTWO) had its target price hoisted by equities research analysts at The Goldman Sachs Group from $86.00 to $103.00 in a research report issued to clients and investors on Thursday,Benzinga reports. The brokerage currently has a “buy” rating on the technology company’s stock. The Goldman Sachs Group’s target price suggests a potential upside of 0.20% from the company’s previous close.

A number of other brokerages also recently commented on QTWO. Stifel Nicolaus boosted their target price on Q2 from $65.00 to $85.00 and gave the company a “buy” rating in a research note on Thursday, August 1st. DA Davidson restated a “neutral” rating and issued a $76.00 price objective on shares of Q2 in a report on Monday, September 30th. Royal Bank of Canada reaffirmed a “sector perform” rating on shares of Q2 in a research report on Friday, October 18th. Compass Point initiated coverage on shares of Q2 in a research report on Wednesday, September 4th. They issued a “buy” rating and a $91.00 target price for the company. Finally, BTIG Research raised their price target on shares of Q2 from $75.00 to $82.00 and gave the company a “buy” rating in a report on Monday, August 26th. Five analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $80.86.

Q2 Trading Up 13.6 %

Shares of QTWO traded up $12.29 during midday trading on Thursday, hitting $102.79. The stock had a trading volume of 928,377 shares, compared to its average volume of 586,597. The business has a 50-day simple moving average of $79.23 and a two-hundred day simple moving average of $68.85. The firm has a market cap of $6.20 billion, a P/E ratio of -89.43 and a beta of 1.58. The company has a current ratio of 2.44, a quick ratio of 2.44 and a debt-to-equity ratio of 1.02. Q2 has a fifty-two week low of $32.97 and a fifty-two week high of $104.02.

Q2 (NYSE:QTWO) last issued its earnings results on Wednesday, November 6th. The technology company reported ($0.03) EPS for the quarter, topping the consensus estimate of ($0.04) by $0.01. The business had revenue of $175.02 million during the quarter, compared to analysts’ expectations of $173.31 million. Q2 had a negative return on equity of 3.95% and a negative net margin of 10.40%. As a group, equities analysts forecast that Q2 will post -0.02 EPS for the current year.

Insider Buying and Selling at Q2

In other news, CRO Michael A. Volanoski sold 1,428 shares of the company’s stock in a transaction that occurred on Thursday, September 12th. The stock was sold at an average price of $71.93, for a total transaction of $102,716.04. Following the completion of the transaction, the executive now directly owns 227,672 shares in the company, valued at $16,376,446.96. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Q2 news, CRO Michael A. Volanoski sold 1,428 shares of the company’s stock in a transaction that occurred on Thursday, September 12th. The stock was sold at an average price of $71.93, for a total value of $102,716.04. Following the completion of the transaction, the executive now owns 227,672 shares of the company’s stock, valued at $16,376,446.96. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, General Counsel Michael S. Kerr sold 517 shares of Q2 stock in a transaction that occurred on Wednesday, September 11th. The stock was sold at an average price of $70.86, for a total value of $36,634.62. Following the sale, the general counsel now directly owns 61,130 shares in the company, valued at $4,331,671.80. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 41,963 shares of company stock valued at $3,109,699 in the last 90 days. 3.00% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Q2

Several institutional investors have recently added to or reduced their stakes in QTWO. Swiss National Bank boosted its holdings in shares of Q2 by 1.0% in the 3rd quarter. Swiss National Bank now owns 117,400 shares of the technology company’s stock worth $9,365,000 after acquiring an additional 1,200 shares in the last quarter. Natixis Advisors LLC raised its stake in shares of Q2 by 4.5% in the third quarter. Natixis Advisors LLC now owns 17,435 shares of the technology company’s stock worth $1,391,000 after acquiring an additional 744 shares during the last quarter. Parametrica Management Ltd acquired a new position in shares of Q2 during the third quarter worth approximately $236,000. Chase Investment Counsel Corp increased its holdings in shares of Q2 by 4.2% in the third quarter. Chase Investment Counsel Corp now owns 48,365 shares of the technology company’s stock valued at $3,858,000 after purchasing an additional 1,951 shares in the last quarter. Finally, Versor Investments LP acquired a new position in Q2 during the 3rd quarter worth $590,000.

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.