Q2 (NYSE:QTWO) Coverage Initiated at JPMorgan Chase & Co.

Stock analysts at JPMorgan Chase & Co. assumed coverage on shares of Q2 (NYSE:QTWO) in a note issued to investors on Wednesday, MarketBeat Ratings reports. The firm set an “overweight” rating and a $115.00 price target on the technology company’s stock. JPMorgan Chase & Co.‘s price objective would indicate a potential upside of 29.37% from the stock’s previous close.

Other equities analysts have also recently issued research reports about the company. Morgan Stanley increased their target price on Q2 from $89.00 to $93.00 and gave the company an “equal weight” rating in a report on Thursday, May 8th. Raymond James Financial reduced their target price on Q2 from $110.00 to $105.00 and set an “outperform” rating for the company in a report on Thursday, May 8th. The Goldman Sachs Group reduced their target price on Q2 from $119.00 to $106.00 and set a “buy” rating for the company in a report on Friday, March 28th. Stifel Nicolaus increased their target price on Q2 from $100.00 to $105.00 and gave the company a “buy” rating in a report on Thursday, May 8th. Finally, Wall Street Zen cut Q2 from a “strong-buy” rating to a “buy” rating in a report on Sunday, June 8th. Eight equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $100.41.

Q2 Stock Performance

Shares of QTWO stock opened at $88.89 on Wednesday. The company has a market capitalization of $5.54 billion, a P/E ratio of -253.97 and a beta of 1.48. The business’s 50 day moving average is $84.35 and its two-hundred day moving average is $88.84. The company has a current ratio of 1.43, a quick ratio of 1.43 and a debt-to-equity ratio of 0.55. Q2 has a 12-month low of $55.97 and a 12-month high of $112.82.

Insider Activity at Q2

In other Q2 news, CRO Michael A. Volanoski sold 1,428 shares of Q2 stock in a transaction dated Thursday, June 12th. The stock was sold at an average price of $88.88, for a total transaction of $126,920.64. Following the completion of the sale, the executive now directly owns 175,812 shares of the company’s stock, valued at $15,626,170.56. The trade was a 0.81% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, General Counsel Michael S. Kerr sold 397 shares of Q2 stock in a transaction dated Wednesday, May 14th. The stock was sold at an average price of $92.90, for a total value of $36,881.30. Following the sale, the general counsel now directly owns 58,441 shares of the company’s stock, valued at $5,429,168.90. This trade represents a 0.67% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 40,014 shares of company stock worth $3,251,601. Company insiders own 0.31% of the company’s stock.

Institutional Trading of Q2

A number of hedge funds and other institutional investors have recently made changes to their positions in QTWO. Rhumbline Advisers increased its position in shares of Q2 by 0.4% during the fourth quarter. Rhumbline Advisers now owns 81,652 shares of the technology company’s stock worth $8,218,000 after purchasing an additional 355 shares in the last quarter. Sanctuary Advisors LLC acquired a new stake in shares of Q2 during the fourth quarter worth about $296,000. TimesSquare Capital Management LLC increased its position in shares of Q2 by 9.0% during the fourth quarter. TimesSquare Capital Management LLC now owns 375,700 shares of the technology company’s stock worth $37,814,000 after purchasing an additional 31,175 shares in the last quarter. LMG Wealth Partners LLC acquired a new stake in shares of Q2 during the fourth quarter worth about $1,436,000. Finally, Arcadia Investment Management Corp MI acquired a new stake in shares of Q2 during the fourth quarter worth about $179,000.

About Q2

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.