Q2 (NYSE:QTWO) Given New $75.00 Price Target at JPMorgan Chase & Co.

Q2 (NYSE:QTWO) had its price target trimmed by JPMorgan Chase & Co. from $100.00 to $75.00 in a research note issued to investors on Wednesday morning,Benzinga reports. They currently have an overweight rating on the technology company’s stock.

Several other equities analysts have also issued reports on QTWO. DA Davidson upgraded Q2 from a “neutral” rating to a “buy” rating and set a $82.00 target price for the company in a research report on Tuesday, February 3rd. Weiss Ratings restated a “hold (c-)” rating on shares of Q2 in a report on Thursday, January 22nd. Needham & Company LLC lowered their target price on shares of Q2 from $90.00 to $70.00 and set a “buy” rating for the company in a research note on Thursday, February 12th. Royal Bank Of Canada reduced their price target on shares of Q2 from $86.00 to $67.00 and set a “sector perform” rating on the stock in a research report on Thursday, February 12th. Finally, Stephens set a $90.00 price target on shares of Q2 in a report on Friday, January 16th. One analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and five have given a Hold rating to the company’s stock. According to data from MarketBeat, Q2 presently has a consensus rating of “Moderate Buy” and an average target price of $79.29.

Q2 Stock Down 0.5%

NYSE:QTWO opened at $52.33 on Wednesday. Q2 has a 12-month low of $51.34 and a 12-month high of $96.68. The stock’s fifty day simple moving average is $66.41 and its 200-day simple moving average is $70.01. The firm has a market capitalization of $3.27 billion, a P/E ratio of 66.24 and a beta of 1.36.

Insider Buying and Selling

In other news, insider Kirk L. Coleman sold 8,559 shares of the business’s stock in a transaction dated Wednesday, December 10th. The stock was sold at an average price of $73.68, for a total value of $630,627.12. Following the sale, the insider directly owned 269,128 shares in the company, valued at $19,829,351.04. The trade was a 3.08% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CRO Michael A. Volanoski sold 5,123 shares of the company’s stock in a transaction dated Friday, December 12th. The stock was sold at an average price of $75.46, for a total value of $386,581.58. Following the transaction, the executive directly owned 166,512 shares of the company’s stock, valued at $12,564,995.52. This represents a 2.98% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 20,883 shares of company stock worth $1,547,778 over the last ninety days. Company insiders own 0.31% of the company’s stock.

Hedge Funds Weigh In On Q2

A number of large investors have recently bought and sold shares of the company. Principal Financial Group Inc. grew its holdings in Q2 by 502.5% during the third quarter. Principal Financial Group Inc. now owns 301,917 shares of the technology company’s stock worth $21,856,000 after purchasing an additional 251,807 shares during the period. Campbell & CO Investment Adviser LLC acquired a new stake in shares of Q2 in the third quarter valued at approximately $1,559,000. Connor Clark & Lunn Investment Management Ltd. boosted its stake in shares of Q2 by 15.0% during the 2nd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 158,328 shares of the technology company’s stock worth $14,818,000 after acquiring an additional 20,643 shares during the period. Federated Hermes Inc. boosted its stake in shares of Q2 by 5.5% during the 3rd quarter. Federated Hermes Inc. now owns 788,374 shares of the technology company’s stock worth $57,070,000 after acquiring an additional 41,229 shares during the period. Finally, Castleark Management LLC acquired a new position in shares of Q2 during the 2nd quarter worth approximately $5,341,000.

About Q2

Q2 Holdings, Inc develops and delivers cloud-based digital banking solutions that enable banks and credit unions to enhance customer and member experiences. The company’s core offerings include the Q2 Platform, a comprehensive suite of online and mobile banking applications for retail and commercial customers, as well as digital onboarding, payments, and fraud prevention tools. Q2’s platform also provides analytics and reporting capabilities designed to help financial institutions tailor products, optimize workflows, and drive engagement.

Founded in 2004 and headquartered in Austin, Texas, Q2 serves hundreds of financial institutions across the United States and Canada.