Needham & Company LLC Cuts Q2 (NYSE:QTWO) Price Target to $110.00

Q2 (NYSE:QTWO) had its price target cut by Needham & Company LLC from $125.00 to $110.00 in a report published on Thursday morning,Benzinga reports. They currently have a buy rating on the technology company’s stock.

Other analysts have also issued research reports about the company. Raymond James lifted their target price on Q2 from $100.00 to $110.00 and gave the stock an “outperform” rating in a report on Thursday, February 13th. Stifel Nicolaus decreased their target price on Q2 from $125.00 to $100.00 and set a “buy” rating for the company in a research report on Tuesday, April 29th. Morgan Stanley dropped their price target on shares of Q2 from $95.00 to $89.00 and set an “equal weight” rating on the stock in a report on Tuesday, April 29th. Baird R W cut shares of Q2 from a “strong-buy” rating to a “hold” rating in a report on Friday, January 10th. Finally, Stephens restated an “overweight” rating and issued a $115.00 target price on shares of Q2 in a report on Thursday, February 13th. Eight investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat, Q2 has a consensus rating of “Moderate Buy” and an average price target of $98.80.

Q2 Trading Down 1.3 %

NYSE:QTWO opened at $89.58 on Thursday. Q2 has a 1 year low of $55.97 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. The company has a market cap of $5.58 billion, a P/E ratio of -137.81 and a beta of 1.47. The stock’s fifty day moving average price is $77.63 and its two-hundred day moving average price is $90.19.

Q2 (NYSE:QTWO) last released its earnings results on Wednesday, February 12th. The technology company reported $0.18 EPS for the quarter, missing analysts’ consensus estimates of $0.48 by ($0.30). Q2 had a positive return on equity of 0.85% and a negative net margin of 5.53%. As a group, analysts expect that Q2 will post 0.67 EPS for the current year.

Insider Buying and Selling

In other news, CEO Matthew P. Flake sold 36,023 shares of the business’s stock in a transaction dated Tuesday, April 1st. The stock was sold at an average price of $80.35, for a total value of $2,894,448.05. Following the transaction, the chief executive officer now directly owns 485,666 shares in the company, valued at $39,023,263.10. The trade was a 6.91 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director James Offerdahl sold 1,000 shares of the stock in a transaction dated Monday, February 24th. The stock was sold at an average price of $87.96, for a total value of $87,960.00. Following the sale, the director now owns 17,241 shares of the company’s stock, valued at $1,516,518.36. This represents a 5.48 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 193,858 shares of company stock valued at $14,853,965. 3.00% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Q2

Hedge funds have recently modified their holdings of the stock. Proficio Capital Partners LLC purchased a new stake in Q2 in the 4th quarter worth $29,000. SBI Securities Co. Ltd. purchased a new stake in shares of Q2 in the fourth quarter worth about $30,000. TCTC Holdings LLC purchased a new stake in shares of Q2 in the fourth quarter worth about $30,000. Ameliora Wealth Management Ltd. bought a new position in Q2 during the fourth quarter valued at approximately $32,000. Finally, Versant Capital Management Inc purchased a new position in Q2 during the 1st quarter valued at approximately $33,000.

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.