Raymond James Issues Pessimistic Forecast for Q2 (NYSE:QTWO) Stock Price

Q2 (NYSE:QTWO) had its target price decreased by Raymond James from $110.00 to $105.00 in a research report report published on Thursday morning,Benzinga reports. Raymond James currently has an outperform rating on the technology company’s stock.

Other equities analysts also recently issued 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 research report on Thursday. Truist Financial reiterated a “buy” rating and set a $110.00 target price (up from $100.00) on shares of Q2 in a research report on Thursday, February 13th. The Goldman Sachs Group decreased their price target on shares of Q2 from $119.00 to $106.00 and set a “buy” rating for the company in a research report on Friday, March 28th. Stephens reiterated an “overweight” rating and set a $115.00 price target on shares of Q2 in a report on Thursday, February 13th. Finally, Needham & Company LLC reduced their price objective on shares of Q2 from $125.00 to $110.00 and set a “buy” rating on the stock in a research note on Thursday. Eight research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $98.80.

Q2 Stock Down 1.3 %

QTWO stock opened at $89.58 on Thursday. The firm has a 50-day moving average price of $77.63 and a 200-day moving average price of $90.19. Q2 has a 12 month low of $55.97 and a 12 month high of $112.82. The company has a current ratio of 1.40, a quick ratio of 1.40 and a debt-to-equity ratio of 0.58. The stock has a market capitalization of $5.58 billion, a P/E ratio of -137.81 and a beta of 1.47.

Q2 (NYSE:QTWO) last issued its earnings results on Wednesday, February 12th. The technology company reported $0.18 earnings per share 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, equities research analysts anticipate that Q2 will post 0.67 EPS for the current fiscal year.

Insider Buying and Selling

In other Q2 news, CEO Matthew P. Flake sold 36,023 shares of the business’s stock in a transaction on Tuesday, April 1st. The shares were sold at an average price of $80.35, for a total transaction of $2,894,448.05. Following the transaction, the chief executive officer now directly owns 485,666 shares of the company’s stock, valued at approximately $39,023,263.10. The trade was a 6.91 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director James Offerdahl sold 1,000 shares of the business’s stock in a transaction dated Monday, February 24th. The shares were sold at an average price of $87.96, for a total transaction of $87,960.00. Following the transaction, the director now owns 17,241 shares in the company, valued at $1,516,518.36. This represents a 5.48 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 193,858 shares of company stock worth $14,853,965 in the last ninety days. 3.00% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the stock. William Blair Investment Management LLC bought a new stake in shares of Q2 in the 4th quarter worth $202,645,000. Assenagon Asset Management S.A. increased its holdings in Q2 by 1,043.1% in the 1st quarter. Assenagon Asset Management S.A. now owns 954,979 shares of the technology company’s stock worth $76,408,000 after buying an additional 871,437 shares in the last quarter. Massachusetts Financial Services Co. MA raised its position in Q2 by 107.9% in the 4th quarter. Massachusetts Financial Services Co. MA now owns 1,345,741 shares of the technology company’s stock worth $135,449,000 after buying an additional 698,464 shares during the last quarter. Arrowstreet Capital Limited Partnership lifted its stake in Q2 by 732.2% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 745,404 shares of the technology company’s stock valued at $75,025,000 after acquiring an additional 655,838 shares during the period. Finally, Ameriprise Financial Inc. boosted its holdings in shares of Q2 by 105.8% during the 4th quarter. Ameriprise Financial Inc. now owns 1,012,787 shares of the technology company’s stock valued at $101,937,000 after acquiring an additional 520,649 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.