DA Davidson Trims Q2 (NYSE:QTWO) Target Price to $74.00

Q2 (NYSE:QTWO – Get Rating) had its target price dropped by research analysts at DA Davidson from $94.00 to $74.00 in a report released on Tuesday, The Fly reports. DA Davidson’s price target would suggest a potential upside of 35.31% from the company’s current price.

Several other analysts have also recently issued reports on QTWO. Royal Bank of Canada lowered their target price on shares of Q2 from $110.00 to $90.00 and set an “outperform” rating on the stock in a research note on Thursday, February 17th. Raymond James lowered their target price on shares of Q2 from $115.00 to $90.00 and set an “outperform” rating on the stock in a research note on Thursday, February 17th. StockNews.com upgraded shares of Q2 from a “sell” rating to a “hold” rating in a research note on Thursday, April 14th. Canaccord Genuity Group lowered their price objective on shares of Q2 from $135.00 to $100.00 in a research report on Thursday, February 17th. Finally, Piper Sandler lowered their price objective on shares of Q2 from $81.00 to $74.00 and set a “neutral” rating on the stock in a research report on Thursday, February 17th. Four research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Buy” and an average target price of $87.50.

Shares of QTWO stock opened at $54.69 on Tuesday. The stock has a market capitalization of $3.11 billion, a P/E ratio of -27.35 and a beta of 1.42. The company has a current ratio of 3.10, a quick ratio of 3.10 and a debt-to-equity ratio of 0.97. The firm’s 50 day moving average is $60.07 and its 200 day moving average is $70.45. Q2 has a 12 month low of $51.45 and a 12 month high of $108.89.

Q2 (NYSE:QTWO – Get Rating) last posted its earnings results on Tuesday, February 15th. The technology company reported ($0.14) earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.21) by $0.07. Q2 had a negative net margin of 22.61% and a negative return on equity of 6.22%. The business had revenue of $131.89 million for the quarter, compared to analysts’ expectations of $132.18 million. During the same period in the prior year, the company posted ($0.21) EPS. On average, equities analysts predict that Q2 will post -0.65 EPS for the current year.

In other news, EVP Kimberly Rutledge sold 8,096 shares of the company’s stock in a transaction dated Friday, March 4th. The shares were sold at an average price of $58.75, for a total value of $475,640.00. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, SVP Barry G. Benton sold 5,835 shares of the stock in a transaction dated Friday, March 4th. The stock was sold at an average price of $58.76, for a total transaction of $342,864.60. The disclosure for this sale can be found here. Insiders have sold 81,954 shares of company stock valued at $4,840,915 over the last 90 days. 4.50% of the stock is currently owned by company insiders.

Several institutional investors have recently made changes to their positions in QTWO. Richelieu Gestion PLC purchased a new position in Q2 during the 1st quarter worth approximately $34,000. Fifth Third Bancorp grew its stake in Q2 by 86.9% in the 4th quarter. Fifth Third Bancorp now owns 585 shares of the technology company’s stock valued at $46,000 after acquiring an additional 272 shares during the period. FSB Premier Wealth Management Inc. acquired a new stake in Q2 in the 4th quarter valued at $51,000. Point72 Hong Kong Ltd acquired a new stake in Q2 during the 4th quarter worth $51,000. Finally, Quadrant Capital Group LLC boosted its stake in Q2 by 65.5% during the 4th quarter. Quadrant Capital Group LLC now owns 710 shares of the technology company’s stock worth $56,000 after purchasing an additional 281 shares during the last quarter.

Q2 Company Profile (Get Rating)

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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