Q2 (NYSE:QTWO) Price Target Raised to $115.00 at Needham & Company LLC

Key Points

• Needham & Company LLC has raised the target price for Q2 Holdings (NYSE:QTWO) from $110.00 to $115.00, indicating a potential upside of 28.98% from its previous close.
• The stock currently has an overall consensus rating of "Moderate Buy", with 11 analysts rating it as a buy and 8 as a hold.
• Institutional investors have been actively trading Q2, with NewEdge Advisors LLC increasing their stake by 269.6% during the last quarter.

Q2 (NYSE:QTWO - Get Free Report) had its price target upped by stock analysts at Needham & Company LLC from $110.00 to $115.00 in a research note issued to investors on Thursday,Benzinga reports. The firm presently has a "buy" rating on the technology company's stock. Needham & Company LLC's price target indicates a potential upside of 50.29% from the company's previous close.

QTWO has been the subject of a number of other research reports. Raymond James Financial decreased their price target on shares of Q2 from $110.00 to $105.00 and set an "outperform" rating for the company in a report on Thursday, May 8th. JPMorgan Chase & Co. began coverage on Q2 in a research report on Wednesday, June 18th. They set an "overweight" rating and a $115.00 price target for the company. Wall Street Zen lowered Q2 from a "strong-buy" rating to a "buy" rating in a report on Sunday, June 8th. Royal Bank Of Canada decreased their target price on Q2 from $108.00 to $101.00 and set a "sector perform" rating for the company in a report on Thursday, May 8th. Finally, Compass Point reiterated a "neutral" rating and issued a $60.00 price target on shares of Q2 in a report on Monday, April 7th. Eight equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $101.06.

Q2 Stock Down 5.8%

Shares of NYSE QTWO traded down $4.68 during trading hours on Thursday, hitting $76.52. 1,368,285 shares of the stock were exchanged, compared to its average volume of 536,969. Q2 has a 12 month low of $61.51 and a 12 month high of $112.82. The firm has a fifty day moving average price of $89.97 and a 200-day moving average price of $86.18. The company has a market cap of $4.78 billion, a PE ratio of 1,530.71 and a beta of 1.47.

Insider Activity at Q2

In other news, Director James Offerdahl sold 1,000 shares of the business's stock in a transaction that occurred on Thursday, May 22nd. The stock was sold at an average price of $87.77, for a total value of $87,770.00. Following the completion of the sale, the director directly owned 16,241 shares in the company, valued at $1,425,472.57. The trade was a 5.80% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CRO Michael A. Volanoski sold 1,428 shares of Q2 stock in a transaction on Thursday, June 12th. The shares were sold at an average price of $88.88, for a total transaction of $126,920.64. Following the completion of the sale, the executive directly owned 175,812 shares in the company, valued at $15,626,170.56. This represents a 0.81% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 3,991 shares of company stock worth $357,153 in the last 90 days. Corporate insiders own 0.31% of the company's stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Commonwealth Equity Services LLC purchased a new position in Q2 in the 4th quarter worth approximately $733,000. LPL Financial LLC increased its holdings in shares of Q2 by 35.3% in the fourth quarter. LPL Financial LLC now owns 25,569 shares of the technology company's stock valued at $2,574,000 after purchasing an additional 6,666 shares during the last quarter. Norges Bank purchased a new position in Q2 during the fourth quarter worth approximately $21,643,000. Pictet Asset Management Holding SA boosted its stake in Q2 by 25.4% during the fourth quarter. Pictet Asset Management Holding SA now owns 8,820 shares of the technology company's stock worth $888,000 after buying an additional 1,789 shares during the last quarter. Finally, O Shaughnessy Asset Management LLC increased its stake in shares of Q2 by 38.2% in the 4th quarter. O Shaughnessy Asset Management LLC now owns 7,169 shares of the technology company's stock worth $722,000 after acquiring an additional 1,982 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.