Needham & Company LLC Has Lowered Expectations for Q2 (NYSE:QTWO) Stock Price

Q2 (NYSE:QTWO - Free Report) had its price objective reduced by Needham & Company LLC from $125.00 to $110.00 in a report released on Thursday morning,Benzinga reports. They currently have a buy rating on the technology company's stock.

Several other research firms have also issued reports on QTWO. Truist Financial reissued a "buy" rating and set a $110.00 target price (up from $100.00) on shares of Q2 in a research note on Thursday, February 13th. Robert W. Baird restated a "neutral" rating and issued a $99.00 price objective (up from $89.00) on shares of Q2 in a research report on Friday, January 10th. Citigroup boosted their price target on shares of Q2 from $96.00 to $100.00 and gave the stock a "neutral" rating in a report on Thursday, February 13th. The Goldman Sachs Group dropped their target price on shares of Q2 from $119.00 to $106.00 and set a "buy" rating on the stock in a research report on Friday, March 28th. Finally, Stifel Nicolaus decreased their price target on shares of Q2 from $125.00 to $100.00 and set a "buy" rating on the stock in a research note on Tuesday, April 29th. Eight equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company's stock. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $98.80.

Q2 Stock Performance

Shares of NYSE QTWO traded down $1.21 during trading on Thursday, reaching $89.58. 944,699 shares of the company traded hands, compared to its average volume of 645,544. The stock has a market cap of $5.58 billion, a P/E ratio of -137.81 and a beta of 1.47. The firm's fifty day simple moving average is $77.63 and its 200 day simple moving average is $90.19. The company has a current ratio of 1.40, a quick ratio of 1.40 and a debt-to-equity ratio of 0.58. Q2 has a 12-month low of $55.97 and a 12-month high of $112.82.

Q2 (NYSE:QTWO - Get Free Report) last announced its quarterly earnings results on Wednesday, February 12th. The technology company reported $0.18 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.48 by ($0.30). Q2 had a negative net margin of 5.53% and a positive return on equity of 0.85%. As a group, research analysts anticipate that Q2 will post 0.67 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, Director James Offerdahl sold 1,000 shares of the company's stock in a transaction on Monday, February 24th. The stock was sold at an average price of $87.96, for a total transaction of $87,960.00. Following the sale, the director now owns 17,241 shares of the company's stock, valued at approximately $1,516,518.36. This represents a 5.48 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Kimberly Anne Rutledge sold 6,656 shares of the company's stock in a transaction that occurred on Wednesday, March 12th. The stock was sold at an average price of $74.12, for a total transaction of $493,342.72. Following the sale, the insider now owns 113,278 shares in the company, valued at $8,396,165.36. The trade was a 5.55 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 193,858 shares of company stock valued at $14,853,965 over the last ninety days. Company insiders own 3.00% of the company's stock.

Institutional Trading of Q2

Hedge funds and other institutional investors have recently bought and sold shares of the business. Barclays PLC lifted its stake in Q2 by 104.0% during the third quarter. Barclays PLC now owns 163,138 shares of the technology company's stock worth $13,012,000 after purchasing an additional 83,181 shares during the last quarter. Tidal Investments LLC raised its stake in Q2 by 48.7% during the 3rd quarter. Tidal Investments LLC now owns 10,646 shares of the technology company's stock worth $849,000 after acquiring an additional 3,486 shares in the last quarter. Franklin Resources Inc. lifted its position in Q2 by 17.5% in the third quarter. Franklin Resources Inc. now owns 47,461 shares of the technology company's stock valued at $3,888,000 after acquiring an additional 7,053 shares during the last quarter. Principal Financial Group Inc. boosted its stake in Q2 by 38.6% in the third quarter. Principal Financial Group Inc. now owns 176,695 shares of the technology company's stock valued at $14,095,000 after acquiring an additional 49,233 shares in the last quarter. Finally, Nordea Investment Management AB grew its holdings in shares of Q2 by 61.8% during the fourth quarter. Nordea Investment Management AB now owns 111,110 shares of the technology company's stock worth $11,208,000 after purchasing an additional 42,433 shares during the last quarter.

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.