Raymond James Issues Positive Forecast for Q2 (NYSE:QTWO) Stock Price

Q2 (NYSE:QTWO) had its target price raised by equities researchers at Raymond James from $100.00 to $110.00 in a research note issued to investors on Thursday,Benzinga reports. The firm presently has an “outperform” rating on the technology company’s stock. Raymond James’ price objective indicates a potential upside of 18.28% from the company’s current price.

Other research analysts also recently issued reports about the company. Truist Financial reiterated a “buy” rating and set a $110.00 target price (up from $100.00) on shares of Q2 in a research note on Thursday. Baird R W cut shares of Q2 from a “strong-buy” rating to a “hold” rating in a research report on Friday, January 10th. Stephens reiterated an “overweight” rating and issued a $115.00 price objective on shares of Q2 in a report on Thursday. The Goldman Sachs Group raised their target price on shares of Q2 from $86.00 to $103.00 and gave the stock a “buy” rating in a research note on Thursday, November 7th. Finally, KeyCorp raised shares of Q2 from a “sector weight” rating to an “overweight” rating and set a $126.00 target price for the company in a report on Wednesday, December 18th. Seven analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $102.13.

Q2 Stock Up 1.1 %

Shares of NYSE:QTWO traded up $0.98 during trading on Thursday, hitting $93.00. 809,118 shares of the company were exchanged, compared to its average volume of 634,395. The stock has a market cap of $5.62 billion, a price-to-earnings ratio of -96.88 and a beta of 1.61. Q2 has a fifty-two week low of $41.23 and a fifty-two week high of $112.82. The firm has a fifty day moving average price of $98.99 and a two-hundred day moving average price of $88.08. The company has a current ratio of 2.50, a quick ratio of 2.50 and a debt-to-equity ratio of 0.99.

Q2 (NYSE:QTWO) last released its quarterly earnings data on Wednesday, February 12th. The technology company reported $0.18 earnings per share for the quarter, missing the consensus estimate of $0.48 by ($0.30). Q2 had a negative return on equity of 2.30% and a negative net margin of 8.40%. As a group, research analysts anticipate that Q2 will post 0.08 earnings per share for the current fiscal year.

Insider Activity at Q2

In related news, CRO Michael A. Volanoski sold 5,123 shares of Q2 stock in a transaction that occurred on Thursday, December 12th. The shares were sold at an average price of $106.12, for a total value of $543,652.76. Following the transaction, the executive now directly owns 218,371 shares of the company’s stock, valued at $23,173,530.52. This trade represents a 2.29 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, President Kirk L. Coleman sold 10,428 shares of the business’s stock in a transaction that occurred on Thursday, December 12th. The shares were sold at an average price of $106.42, for a total transaction of $1,109,747.76. Following the transaction, the president now owns 337,643 shares of the company’s stock, valued at approximately $35,931,968.06. This represents a 3.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 28,836 shares of company stock valued at $3,061,035 over the last quarter. 3.00% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Q2

Several hedge funds and other institutional investors have recently modified their holdings of the business. Versor Investments LP acquired a new stake in Q2 in the third quarter valued at about $590,000. State Street Corp boosted its stake in shares of Q2 by 0.3% in the 3rd quarter. State Street Corp now owns 1,668,767 shares of the technology company’s stock valued at $133,118,000 after purchasing an additional 5,000 shares in the last quarter. BNP Paribas Financial Markets grew its holdings in shares of Q2 by 32.2% during the 3rd quarter. BNP Paribas Financial Markets now owns 30,720 shares of the technology company’s stock valued at $2,451,000 after purchasing an additional 7,475 shares during the last quarter. Nordea Investment Management AB increased its position in Q2 by 61.8% during the 4th quarter. Nordea Investment Management AB now owns 111,110 shares of the technology company’s stock worth $11,208,000 after purchasing an additional 42,433 shares in the last quarter. Finally, Intech Investment Management LLC acquired a new position in Q2 during the 3rd quarter worth approximately $1,227,000.

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.