Q2 (NYSE:QTWO) Rating Lowered to Neutral at DA Davidson

DA Davidson lowered shares of Q2 (NYSE:QTWO) from a buy rating to a neutral rating in a research note released on Wednesday morning, MarketBeat.com reports. The firm currently has $76.00 price target on the technology company’s stock, up from their prior price target of $65.00.

QTWO has been the topic of several other research reports. The Goldman Sachs Group upped their price target on Q2 from $52.00 to $59.00 and gave the stock a buy rating in a report on Thursday, May 2nd. Morgan Stanley reaffirmed an equal weight rating and issued a $50.00 target price (up previously from $40.00) on shares of Q2 in a report on Thursday, May 2nd. Stifel Nicolaus boosted their price target on shares of Q2 from $48.00 to $60.00 and gave the stock a buy rating in a report on Wednesday, April 24th. BTIG Research raised their price objective on shares of Q2 from $48.00 to $60.00 and gave the company a buy rating in a report on Thursday, May 2nd. Finally, Truist Financial reiterated a buy rating and set a $68.00 target price on shares of Q2 in a research note on Monday, July 1st. Five investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of Moderate Buy and an average price target of $56.27.

Q2 Trading Up 3.8 %

Shares of QTWO stock opened at $69.00 on Wednesday. Q2 has a fifty-two week low of $28.91 and a fifty-two week high of $71.08. The company has a 50 day moving average price of $62.16 and a 200 day moving average price of $53.77. The stock has a market capitalization of $4.15 billion, a P/E ratio of -51.11 and a beta of 1.55. The company has a debt-to-equity ratio of 1.06, a quick ratio of 2.38 and a current ratio of 2.38.

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

Insider Activity at Q2

In other Q2 news, Director Jeffrey T. Diehl sold 27,248 shares of the business’s stock in a transaction that occurred on Wednesday, May 29th. The stock was sold at an average price of $62.51, for a total value of $1,703,272.48. Following the completion of the sale, the director now owns 750,314 shares in the company, valued at $46,902,128.14. The sale was disclosed in a document filed with the SEC, which is available through this link. In related news, Director R. H. Seale sold 598 shares of the stock in a transaction on Monday, June 10th. The shares were sold at an average price of $61.26, for a total transaction of $36,633.48. Following the completion of the sale, the director now owns 420,171 shares in the company, valued at approximately $25,739,675.46. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Jeffrey T. Diehl sold 27,248 shares of Q2 stock in a transaction on Wednesday, May 29th. The shares were sold at an average price of $62.51, for a total transaction of $1,703,272.48. Following the completion of the transaction, the director now owns 750,314 shares in the company, valued at $46,902,128.14. The disclosure for this sale can be found here. Insiders sold a total of 84,637 shares of company stock valued at $5,224,320 in the last three months. 3.60% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Q2

Hedge funds have recently made changes to their positions in the business. Nordea Investment Management AB increased its position in Q2 by 45.2% in the 1st quarter. Nordea Investment Management AB now owns 64,826 shares of the technology company’s stock valued at $3,456,000 after acquiring an additional 20,195 shares during the period. Jennison Associates LLC grew its stake in shares of Q2 by 14.6% in the 1st quarter. Jennison Associates LLC now owns 1,852,407 shares of the technology company’s stock valued at $97,363,000 after purchasing an additional 235,582 shares during the last quarter. Summit Creek Advisors LLC acquired a new position in shares of Q2 in the fourth quarter valued at approximately $9,170,000. PEAK6 Investments LLC raised its stake in shares of Q2 by 68.8% during the fourth quarter. PEAK6 Investments LLC now owns 69,205 shares of the technology company’s stock worth $3,004,000 after purchasing an additional 28,215 shares during the last quarter. Finally, Principal Financial Group Inc. lifted its holdings in shares of Q2 by 67.4% during the fourth quarter. Principal Financial Group Inc. now owns 39,605 shares of the technology company’s stock worth $1,719,000 after purchasing an additional 15,942 shares during the period.

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.