Q2 (NYSE:QTWO) Price Target Cut to $65.00 by Analysts at Raymond James

Q2 (NYSE:QTWOGet Rating) had its price objective decreased by Raymond James from $75.00 to $65.00 in a research report sent to investors on Friday morning, Benzinga reports. Raymond James currently has an outperform rating on the technology company’s stock.

Other equities analysts have also issued reports about the stock. Piper Sandler cut their price objective on shares of Q2 from $52.00 to $41.00 and set a neutral rating on the stock in a report on Monday, July 18th. Robert W. Baird cut their price objective on shares of Q2 from $92.00 to $77.00 in a report on Wednesday, May 4th. Truist Financial cut their price objective on shares of Q2 from $125.00 to $85.00 in a report on Wednesday, May 4th. StockNews.com lowered shares of Q2 from a hold rating to a sell rating in a report on Friday, May 13th. Finally, DA Davidson cut their price objective on shares of Q2 from $94.00 to $74.00 in a report on Tuesday, April 26th. One analyst has rated the stock with a sell rating, three have given a hold rating and six have given a buy rating to the company. According to data from MarketBeat, Q2 currently has an average rating of Moderate Buy and a consensus target price of $73.58.

Q2 Price Performance

Shares of NYSE:QTWO opened at $43.92 on Friday. The firm’s 50 day simple moving average is $42.08 and its 200-day simple moving average is $52.38. The company has a quick ratio of 2.98, a current ratio of 2.98 and a debt-to-equity ratio of 1.47. Q2 has a one year low of $34.42 and a one year high of $92.89.

Insider Transactions at Q2

In other news, CRO Michael A. Volanoski sold 2,593 shares of Q2 stock in a transaction on Friday, June 10th. The shares were sold at an average price of $40.25, for a total transaction of $104,368.25. Following the completion of the sale, the executive now directly owns 69,136 shares in the company, valued at $2,782,724. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Insiders own 3.50% of the company’s stock.

Institutional Investors Weigh In On Q2

Institutional investors and hedge funds have recently made changes to their positions in the stock. Ellevest Inc. lifted its stake in shares of Q2 by 669.1% during the second quarter. Ellevest Inc. now owns 723 shares of the technology company’s stock worth $28,000 after buying an additional 629 shares during the period. Richelieu Gestion PLC acquired a new position in Q2 during the first quarter valued at $34,000. Harbor Investment Advisory LLC lifted its position in Q2 by 50.1% during the second quarter. Harbor Investment Advisory LLC now owns 1,117 shares of the technology company’s stock valued at $43,000 after purchasing an additional 373 shares during the period. Fifth Third Bancorp lifted its position in Q2 by 86.9% during the fourth quarter. Fifth Third Bancorp now owns 585 shares of the technology company’s stock valued at $46,000 after purchasing an additional 272 shares during the period. Finally, Canada Pension Plan Investment Board acquired a new position in Q2 during the first quarter valued at $49,000.

About Q2

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Q2 Holdings, Inc provides cloud-based digital banking solutions to regional and community financial institutions (RCFIs) in the United States. The company offers Q2 Consumer Banking, a browser-based digital banking solution and comprehensive financial institution branded digital banking capabilities; Q2 Small Business and Commercial, a mobile and tablet digital banking solution; Q2mobile Remote Deposit Capture, a partnered solution that allows remote check deposit capture.

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