Q2 (NYSE:QTWO) Given New $65.00 Price Target at Needham & Company LLC

Q2 (NYSE:QTWO) had its price target lifted by Needham & Company LLC from $58.00 to $65.00 in a research note released on Thursday, Benzinga reports. They currently have a buy rating on the technology company’s stock.

A number of other analysts also recently issued reports on QTWO. Stifel Nicolaus raised their price target on Q2 from $48.00 to $60.00 and gave the stock a buy rating in a research report on Wednesday, April 24th. The Goldman Sachs Group lifted their price target on shares of Q2 from $39.00 to $51.00 and gave the stock a buy rating in a research note on Tuesday, January 23rd. Canaccord Genuity Group increased their price objective on shares of Q2 from $40.00 to $55.00 and gave the stock a buy rating in a research report on Friday, February 23rd. Robert W. Baird boosted their target price on Q2 from $60.00 to $65.00 and gave the company an outperform rating in a research report on Thursday. Finally, DA Davidson increased their price target on Q2 from $48.00 to $58.00 and gave the stock a buy rating in a report on Tuesday, February 27th. Four analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of Moderate Buy and an average price target of $55.33.

Q2 Price Performance

QTWO stock traded up $0.78 during trading on Thursday, hitting $60.36. 1,212,357 shares of the company’s stock traded hands, compared to its average volume of 623,325. The business has a fifty day simple moving average of $50.79 and a 200 day simple moving average of $43.14. Q2 has a 52 week low of $21.21 and a 52 week high of $60.98. The company has a debt-to-equity ratio of 1.06, a quick ratio of 2.23 and a current ratio of 2.38. The stock has a market capitalization of $3.63 billion, a price-to-earnings ratio of -44.71 and a beta of 1.47.

Q2 (NYSE:QTWO) last released its quarterly earnings results on Wednesday, February 21st. The technology company reported ($0.06) EPS for the quarter, topping the consensus estimate of ($0.10) by $0.04. Q2 had a negative return on equity of 5.88% and a negative net margin of 12.35%. The company had revenue of $162.12 million during the quarter, compared to analyst estimates of $161.31 million. As a group, research analysts expect that Q2 will post -0.05 EPS for the current fiscal year.

Insider Transactions at Q2

In other news, CFO David J. Mehok sold 5,806 shares of Q2 stock in a transaction on Monday, March 4th. The stock was sold at an average price of $46.01, for a total value of $267,134.06. Following the transaction, the chief financial officer now directly owns 159,085 shares in the company, valued at approximately $7,319,500.85. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In related news, Director R. H. Seale sold 689 shares of the business’s stock in a transaction on Monday, March 11th. The stock was sold at an average price of $48.75, for a total transaction of $33,588.75. Following the transaction, the director now directly owns 420,769 shares in the company, valued at approximately $20,512,488.75. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CFO David J. Mehok sold 5,806 shares of the stock in a transaction dated Monday, March 4th. The shares were sold at an average price of $46.01, for a total value of $267,134.06. Following the completion of the sale, the chief financial officer now owns 159,085 shares of the company’s stock, valued at $7,319,500.85. The disclosure for this sale can be found here. In the last quarter, insiders sold 290,702 shares of company stock valued at $13,014,042. Company insiders own 3.60% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the stock. Natixis Advisors L.P. raised its stake in shares of Q2 by 1.6% in the fourth quarter. Natixis Advisors L.P. now owns 16,188 shares of the technology company’s stock worth $702,000 after purchasing an additional 259 shares during the last quarter. Contravisory Investment Management Inc. raised its position in Q2 by 4.4% during the 1st quarter. Contravisory Investment Management Inc. now owns 7,164 shares of the technology company’s stock worth $377,000 after buying an additional 304 shares during the last quarter. Arizona State Retirement System lifted its stake in Q2 by 2.2% during the 3rd quarter. Arizona State Retirement System now owns 16,570 shares of the technology company’s stock valued at $535,000 after acquiring an additional 352 shares during the period. Diversified Trust Co boosted its holdings in shares of Q2 by 2.7% in the 4th quarter. Diversified Trust Co now owns 13,670 shares of the technology company’s stock valued at $593,000 after acquiring an additional 363 shares during the last quarter. Finally, MCF Advisors LLC raised its holdings in shares of Q2 by 156.5% during the fourth quarter. MCF Advisors LLC now owns 613 shares of the technology company’s stock worth $27,000 after purchasing an additional 374 shares during 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.