The Goldman Sachs Group Increases Q2 (NYSE:QTWO) Price Target to $86.00

Q2 (NYSE:QTWO) had its target price boosted by The Goldman Sachs Group from $59.00 to $86.00 in a research note issued on Thursday, Benzinga reports. The brokerage presently has a “buy” rating on the technology company’s stock. The Goldman Sachs Group’s price target would suggest a potential upside of 23.62% from the company’s current price.

A number of other equities analysts have also weighed in on QTWO. Needham & Company LLC increased their target price on Q2 from $58.00 to $65.00 and gave the stock a “buy” rating in a research note on Thursday, May 2nd. Robert W. Baird lifted their target price on Q2 from $60.00 to $65.00 and gave the stock an “outperform” rating in a report on Thursday, May 2nd. BTIG Research upped their price target on shares of Q2 from $60.00 to $75.00 and gave the company a “buy” rating in a research note on Thursday. Piper Sandler raised their price target on shares of Q2 from $47.00 to $61.00 and gave the stock a “neutral” rating in a research report on Friday, May 3rd. Finally, Royal Bank of Canada boosted their price objective on shares of Q2 from $60.00 to $76.00 and gave the company a “sector perform” rating in a report on Thursday. Five equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $62.47.

Q2 Stock Performance

Shares of QTWO traded up $2.10 during trading hours on Thursday, hitting $69.57. The company had a trading volume of 763,968 shares, compared to its average volume of 611,651. The business has a fifty day moving average of $62.41 and a 200-day moving average of $54.29. The company has a quick ratio of 2.38, a current ratio of 2.38 and a debt-to-equity ratio of 1.06. The firm has a market cap of $4.18 billion, a price-to-earnings ratio of -51.53 and a beta of 1.55. Q2 has a 12 month low of $28.91 and a 12 month high of $75.94.

Q2 (NYSE:QTWO) last released its quarterly earnings results on Wednesday, May 1st. The technology company reported ($0.04) earnings per share for the quarter, beating the consensus estimate of ($0.05) by $0.01. The firm had revenue of $165.51 million for the quarter, compared to analysts’ expectations of $163.58 million. Q2 had a negative net margin of 12.35% and a negative return on equity of 5.88%. Equities analysts anticipate that Q2 will post -0.05 EPS for the current fiscal year.

Insider Buying and Selling

In other Q2 news, Director R. H. Seale sold 598 shares of Q2 stock in a transaction dated Monday, June 10th. The stock was sold at an average price of $61.26, for a total value of $36,633.48. Following the transaction, the director now owns 420,171 shares in the company, valued at $25,739,675.46. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other Q2 news, Director R. H. Seale sold 598 shares of the firm’s stock in a transaction that occurred on Monday, June 10th. The shares were sold at an average price of $61.26, for a total value of $36,633.48. Following the sale, the director now owns 420,171 shares in the company, valued at $25,739,675.46. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Jeffrey T. Diehl sold 1,015 shares of the company’s stock in a transaction on Tuesday, June 4th. The stock was sold at an average price of $61.00, for a total transaction of $61,915.00. Following the transaction, the director now owns 721,184 shares of the company’s stock, valued at $43,992,224. The disclosure for this sale can be found here. Insiders sold a total of 84,637 shares of company stock worth $5,224,320 in the last ninety days. 3.60% of the stock is owned by insiders.

Institutional Trading of Q2

Several hedge funds and other institutional investors have recently made changes to their positions in QTWO. MCF Advisors LLC raised its holdings in Q2 by 156.5% in the 4th quarter. MCF Advisors LLC now owns 613 shares of the technology company’s stock valued at $27,000 after buying an additional 374 shares during the last quarter. CWM LLC raised its stake in shares of Q2 by 54.2% during the second quarter. CWM LLC now owns 481 shares of the technology company’s stock valued at $29,000 after acquiring an additional 169 shares during the last quarter. International Assets Investment Management LLC raised its stake in shares of Q2 by 2,582.4% during the fourth quarter. International Assets Investment Management LLC now owns 912 shares of the technology company’s stock valued at $40,000 after acquiring an additional 878 shares during the last quarter. Arcadia Investment Management Corp MI lifted its holdings in shares of Q2 by 193.7% during the fourth quarter. Arcadia Investment Management Corp MI now owns 1,119 shares of the technology company’s stock worth $49,000 after purchasing an additional 738 shares during the period. Finally, Fidelis Capital Partners LLC bought a new stake in shares of Q2 in the first quarter worth $50,000.

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.