The Goldman Sachs Group Cuts Q2 (NYSE:QTWO) Price Target to $106.00

Q2 (NYSE:QTWO) had its target price trimmed by The Goldman Sachs Group from $119.00 to $106.00 in a report published on Friday morning,Benzinga reports. The firm currently has a buy rating on the technology company’s stock.

Several other analysts also recently weighed in on the company. Citigroup lifted their price objective on Q2 from $96.00 to $100.00 and gave the company a “neutral” rating in a report on Thursday, February 13th. Royal Bank of Canada boosted their price target on shares of Q2 from $105.00 to $108.00 and gave the company a “sector perform” rating in a report on Thursday, February 13th. Needham & Company LLC increased their price objective on shares of Q2 from $120.00 to $125.00 and gave the company a “buy” rating in a research note on Thursday, February 13th. Truist Financial reissued a “buy” rating and issued a $110.00 price objective (up previously from $100.00) on shares of Q2 in a research note on Thursday, February 13th. Finally, KeyCorp raised Q2 from a “sector weight” rating to an “overweight” rating and set a $126.00 target price on the stock in a research report on Wednesday, December 18th. Seven research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $105.47.

Q2 Price Performance

Q2 stock opened at $80.71 on Friday. The stock has a market cap of $4.90 billion, a price-to-earnings ratio of -124.16 and a beta of 1.62. The firm has a 50-day moving average of $86.84 and a two-hundred day moving average of $90.79. Q2 has a 1 year low of $46.50 and a 1 year high of $112.82. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.40 and a quick ratio of 1.40.

Q2 (NYSE:QTWO) last announced its quarterly earnings data on Wednesday, February 12th. The technology company reported $0.18 earnings per share (EPS) for the quarter, missing the consensus estimate 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, research analysts forecast that Q2 will post 0.67 earnings per share for the current year.

Insiders Place Their Bets

In related news, CEO Matthew P. Flake sold 56,799 shares of the firm’s stock in a transaction on Thursday, March 6th. The stock was sold at an average price of $78.28, for a total value of $4,446,225.72. Following the completion of the transaction, the chief executive officer now owns 453,849 shares in the company, valued at $35,527,299.72. This trade represents a 11.12 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director James Offerdahl sold 1,000 shares of the stock in a transaction dated Monday, February 24th. The shares were sold at an average price of $87.96, for a total value of $87,960.00. Following the completion of the transaction, the director now directly owns 17,241 shares in the company, valued at $1,516,518.36. This represents a 5.48 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 157,835 shares of company stock valued at $11,959,517. 3.00% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Q2

A number of institutional investors and hedge funds have recently modified their holdings of QTWO. William Blair Investment Management LLC purchased a new position in Q2 during the 4th quarter worth approximately $202,645,000. Massachusetts Financial Services Co. MA increased its stake in shares of Q2 by 107.9% in the fourth quarter. Massachusetts Financial Services Co. MA now owns 1,345,741 shares of the technology company’s stock worth $135,449,000 after acquiring an additional 698,464 shares during the period. Arrowstreet Capital Limited Partnership increased its stake in shares of Q2 by 732.2% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 745,404 shares of the technology company’s stock worth $75,025,000 after acquiring an additional 655,838 shares during the period. Ameriprise Financial Inc. raised its holdings in shares of Q2 by 105.8% during the fourth quarter. Ameriprise Financial Inc. now owns 1,012,787 shares of the technology company’s stock worth $101,937,000 after purchasing an additional 520,649 shares during the last quarter. Finally, Franklin Resources Inc. lifted its position in Q2 by 893.5% during the fourth quarter. Franklin Resources Inc. now owns 471,523 shares of the technology company’s stock valued at $47,459,000 after purchasing an additional 424,062 shares during the period.

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.