Needham & Company LLC Forecasts Strong Price Appreciation for Q2 (NYSE:QTWO) Stock

Q2 (NYSE:QTWO) had its target price lifted by analysts at Needham & Company LLC from $90.00 to $120.00 in a research report issued on Thursday,Benzinga reports. The firm currently has a “buy” rating on the technology company’s stock. Needham & Company LLC’s price objective points to a potential upside of 16.75% from the company’s current price.

Other analysts also recently issued research reports about the stock. BTIG Research boosted their target price on shares of Q2 from $75.00 to $82.00 and gave the stock a “buy” rating in a research report on Monday, August 26th. Compass Point assumed coverage on shares of Q2 in a report on Wednesday, September 4th. They set a “buy” rating and a $91.00 price objective on the stock. Royal Bank of Canada restated a “sector perform” rating on shares of Q2 in a research note on Friday, October 18th. DA Davidson reiterated a “neutral” rating and set a $76.00 price target on shares of Q2 in a research note on Monday, September 30th. Finally, Stifel Nicolaus raised their price objective on Q2 from $65.00 to $85.00 and gave the stock a “buy” rating in a research note on Thursday, August 1st. Five analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. According to data from MarketBeat.com, Q2 currently has an average rating of “Moderate Buy” and a consensus price target of $90.79.

Q2 Stock Performance

Shares of QTWO opened at $102.78 on Thursday. The company has a current ratio of 2.44, a quick ratio of 2.44 and a debt-to-equity ratio of 1.02. The firm has a market cap of $6.20 billion, a PE ratio of -107.06 and a beta of 1.58. Q2 has a 12 month low of $32.97 and a 12 month high of $105.00. The stock has a fifty day moving average price of $80.37 and a 200-day moving average price of $69.44.

Q2 (NYSE:QTWO) last released its quarterly earnings results on Wednesday, November 6th. The technology company reported ($0.03) EPS for the quarter, beating analysts’ consensus estimates of ($0.04) by $0.01. The company had revenue of $175.02 million during the quarter, compared to analysts’ expectations of $173.31 million. Q2 had a negative return on equity of 2.34% and a negative net margin of 8.40%. Equities research analysts predict that Q2 will post -0.02 earnings per share for the current fiscal year.

Insider Activity

In related news, Director Jeffrey T. Diehl sold 28,005 shares of the stock in a transaction on Monday, August 26th. The shares were sold at an average price of $75.25, for a total transaction of $2,107,376.25. Following the sale, the director now directly owns 397,702 shares of the company’s stock, valued at approximately $29,927,075.50. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. In other Q2 news, Director Jeffrey T. Diehl sold 28,005 shares of the stock in a transaction that occurred on Monday, August 26th. The stock was sold at an average price of $75.25, for a total transaction of $2,107,376.25. Following the transaction, the director now owns 397,702 shares in the company, valued at approximately $29,927,075.50. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, General Counsel Michael S. Kerr sold 517 shares of the firm’s stock in a transaction that occurred on Wednesday, September 11th. The shares were sold at an average price of $70.86, for a total value of $36,634.62. Following the completion of the sale, the general counsel now directly owns 61,130 shares in the company, valued at approximately $4,331,671.80. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 41,963 shares of company stock valued at $3,109,699 in the last three months. 3.00% of the stock is currently owned by corporate insiders.

Institutional Trading of Q2

Several institutional investors have recently modified their holdings of the stock. Brown Capital Management LLC lifted its stake in Q2 by 0.4% in the 1st quarter. Brown Capital Management LLC now owns 2,565,647 shares of the technology company’s stock valued at $134,850,000 after buying an additional 11,000 shares in the last quarter. Conestoga Capital Advisors LLC lifted its position in shares of Q2 by 1.5% in the third quarter. Conestoga Capital Advisors LLC now owns 2,308,194 shares of the technology company’s stock valued at $184,125,000 after acquiring an additional 34,300 shares in the last quarter. Hood River Capital Management LLC boosted its stake in shares of Q2 by 5.7% in the second quarter. Hood River Capital Management LLC now owns 1,261,924 shares of the technology company’s stock worth $76,132,000 after acquiring an additional 67,757 shares during the last quarter. American Century Companies Inc. increased its position in shares of Q2 by 5,990.6% during the second quarter. American Century Companies Inc. now owns 1,210,143 shares of the technology company’s stock worth $73,008,000 after purchasing an additional 1,190,274 shares in the last quarter. Finally, Perpetual Ltd purchased a new stake in shares of Q2 during the third quarter worth approximately $80,788,000.

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.