Needham & Company LLC Issues Pessimistic Forecast for Q2 (NYSE:QTWO) Stock Price

Q2 (NYSE:QTWO) had its price objective decreased by Needham & Company LLC from $125.00 to $110.00 in a research note issued to investors on Thursday,Benzinga reports. The firm currently has a “buy” rating on the technology company’s stock. Needham & Company LLC’s price objective indicates a potential upside of 22.80% from the company’s previous close.

Several other research analysts have also recently weighed in on QTWO. The Goldman Sachs Group lowered their price objective on Q2 from $119.00 to $106.00 and set a “buy” rating on the stock in a research report on Friday, March 28th. Raymond James lifted their price objective on shares of Q2 from $100.00 to $110.00 and gave the stock an “outperform” rating in a research note on Thursday, February 13th. Robert W. Baird restated a “neutral” rating and set a $99.00 target price (up previously from $89.00) on shares of Q2 in a research report on Friday, January 10th. Truist Financial reiterated a “buy” rating and issued a $110.00 price target (up from $100.00) on shares of Q2 in a research report on Thursday, February 13th. Finally, Compass Point reissued a “neutral” rating and set a $60.00 price target on shares of Q2 in a research report on Monday, April 7th. Eight investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Q2 presently has an average rating of “Moderate Buy” and a consensus price target of $98.80.

Q2 Stock Performance

NYSE QTWO opened at $89.58 on Thursday. The stock 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 quick ratio of 1.40 and a current ratio of 1.40. The firm has a 50-day moving average of $77.63 and a 200-day moving average of $90.14. Q2 has a 52-week low of $55.97 and a 52-week high of $112.82.

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

Insider Buying and Selling

In other news, CEO Matthew P. Flake sold 36,023 shares of the business’s stock in a transaction that occurred on Tuesday, April 1st. The shares were sold at an average price of $80.35, for a total value of $2,894,448.05. Following the transaction, the chief executive officer now owns 485,666 shares in the company, valued at approximately $39,023,263.10. The trade was a 6.91 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Kimberly Anne Rutledge sold 6,656 shares of the business’s stock in a transaction 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 completion of the transaction, the insider now owns 113,278 shares in the company, valued at approximately $8,396,165.36. The trade was a 5.55 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 193,858 shares of company stock worth $14,853,965 in the last three months. 3.00% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Q2

Several large investors have recently added to or reduced their stakes in QTWO. Charles Schwab Investment Management Inc. boosted its position in shares of Q2 by 1.5% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 514,732 shares of the technology company’s stock worth $41,184,000 after purchasing an additional 7,667 shares in the last quarter. PNC Financial Services Group Inc. increased its position in shares of Q2 by 42.8% during the 1st quarter. PNC Financial Services Group Inc. now owns 2,816 shares of the technology company’s stock valued at $225,000 after purchasing an additional 844 shares during the last quarter. US Bancorp DE raised its position in Q2 by 5.0% in the first quarter. US Bancorp DE now owns 31,656 shares of the technology company’s stock worth $2,533,000 after acquiring an additional 1,513 shares during the period. Natixis Advisors LLC lifted its stake in Q2 by 5.1% in the first quarter. Natixis Advisors LLC now owns 19,461 shares of the technology company’s stock valued at $1,557,000 after purchasing an additional 936 shares during the last quarter. Finally, XTX Topco Ltd bought a new position in shares of Q2 during the 1st quarter worth $517,000.

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.