Q2 (NYSE:QTWO) Given New $63.00 Price Target at Citigroup

Q2 (NYSE:QTWOGet Rating) had its price objective decreased by Citigroup from $78.00 to $63.00 in a research note issued to investors on Monday, The Fly reports. Citigroup currently has a buy rating on the technology company’s stock.

QTWO has been the subject of several other research reports. Robert W. Baird cut their price objective on Q2 from $77.00 to $61.00 and set an outperform rating for the company in a research report on Friday, August 5th. Morgan Stanley cut their price objective on Q2 from $55.00 to $50.00 and set an equal weight rating for the company in a research report on Monday, August 8th. Stephens lifted their price objective on Q2 to $55.00 in a research report on Thursday, May 26th. Needham & Company LLC cut their price objective on Q2 from $68.00 to $62.00 and set a buy rating for the company in a research report on Friday, August 5th. Finally, StockNews.com upgraded Q2 from a sell rating to a hold rating in a research report on Thursday, September 8th. Four research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of Moderate Buy and an average price target of $71.23.

Q2 Price Performance

Q2 stock opened at $42.07 on Monday. The company has a debt-to-equity ratio of 1.49, a current ratio of 3.10 and a quick ratio of 3.10. The company has a market capitalization of $2.41 billion, a PE ratio of -22.62 and a beta of 1.55. Q2 has a one year low of $34.42 and a one year high of $90.85. The business has a 50 day simple moving average of $42.21 and a 200 day simple moving average of $48.40.

Q2 (NYSE:QTWOGet Rating) last posted its earnings results on Wednesday, August 3rd. The technology company reported ($0.24) EPS for the quarter, missing the consensus estimate of ($0.20) by ($0.04). Q2 had a negative return on equity of 9.16% and a negative net margin of 19.84%. The company had revenue of $140.31 million for the quarter, compared to the consensus estimate of $140.22 million. On average, sell-side analysts forecast that Q2 will post -0.82 EPS for the current fiscal year.

Institutional Investors Weigh In On Q2

A number of institutional investors have recently made changes to their positions in QTWO. Advisor Group Holdings Inc. grew its stake in shares of Q2 by 4.8% during the fourth quarter. Advisor Group Holdings Inc. now owns 3,849 shares of the technology company’s stock worth $307,000 after purchasing an additional 176 shares during the period. Raymond James Financial Services Advisors Inc. grew its stake in Q2 by 11.8% in the fourth quarter. Raymond James Financial Services Advisors Inc. now owns 4,040 shares of the technology company’s stock valued at $321,000 after acquiring an additional 427 shares during the period. Dimensional Fund Advisors LP grew its stake in Q2 by 15.8% in the fourth quarter. Dimensional Fund Advisors LP now owns 163,605 shares of the technology company’s stock valued at $12,998,000 after acquiring an additional 22,292 shares during the period. Teacher Retirement System of Texas grew its stake in Q2 by 24.1% in the fourth quarter. Teacher Retirement System of Texas now owns 10,565 shares of the technology company’s stock valued at $839,000 after acquiring an additional 2,053 shares during the period. Finally, Ensign Peak Advisors Inc grew its stake in Q2 by 25.7% in the fourth quarter. Ensign Peak Advisors Inc now owns 34,314 shares of the technology company’s stock valued at $2,726,000 after acquiring an additional 7,010 shares during the period.

About Q2

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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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Analyst Recommendations for Q2 (NYSE:QTWO)

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