Q2 (NYSE:QTWO) Price Target Cut to $89.00 by Analysts at Morgan Stanley

Q2 (NYSE:QTWO) had its target price reduced by stock analysts at Morgan Stanley from $95.00 to $89.00 in a note issued to investors on Tuesday,Benzinga reports. The firm presently has an “equal weight” rating on the technology company’s stock. Morgan Stanley’s target price suggests a potential upside of 13.10% from the stock’s previous close.

A number of other research analysts have also issued reports on QTWO. Citigroup boosted their price target on shares of Q2 from $96.00 to $100.00 and gave the stock a “neutral” rating in a research note on Thursday, February 13th. Royal Bank of Canada increased their target price on shares of Q2 from $105.00 to $108.00 and gave the company a “sector perform” rating in a report on Thursday, February 13th. Compass Point restated a “neutral” rating and issued a $60.00 price target on shares of Q2 in a report on Monday, April 7th. Baird R W cut Q2 from a “strong-buy” rating to a “hold” rating in a report on Friday, January 10th. Finally, Stephens reissued an “overweight” rating and issued a $115.00 target price on shares of Q2 in a report on Thursday, February 13th. Eight research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $102.27.

Q2 Stock Performance

NYSE QTWO opened at $78.69 on Tuesday. The business’s 50-day moving average price is $78.28 and its 200 day moving average price is $90.24. The company has a quick ratio of 1.40, a current ratio of 1.40 and a debt-to-equity ratio of 0.58. The firm has a market cap of $4.90 billion, a P/E ratio of -121.06 and a beta of 1.61. Q2 has a 52-week low of $50.91 and a 52-week high of $112.82.

Q2 (NYSE:QTWO) last released its 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%. On average, equities research analysts expect that Q2 will post 0.67 earnings per share for the current year.

Insider Activity

In other Q2 news, CFO Jonathan Price sold 42,652 shares of Q2 stock in a transaction that occurred on Wednesday, March 12th. The shares were sold at an average price of $74.37, for a total transaction of $3,172,029.24. Following the transaction, the chief financial officer now directly owns 209,378 shares of the company’s stock, valued at $15,571,441.86. The trade was a 16.92 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director James Offerdahl sold 1,000 shares of the 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 completion of the sale, the director now directly owns 17,241 shares of the company’s stock, valued at $1,516,518.36. The trade was a 5.48 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 193,858 shares of company stock valued at $14,853,965 in the last ninety days. Company insiders own 3.00% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the stock. Peregrine Capital Management LLC acquired a new stake in shares of Q2 in the first quarter valued at about $7,778,000. Allspring Global Investments Holdings LLC grew its position in Q2 by 7.6% in the first quarter. Allspring Global Investments Holdings LLC now owns 137,694 shares of the technology company’s stock valued at $11,017,000 after acquiring an additional 9,710 shares in the last quarter. Highland Capital Management LLC lifted its position in shares of Q2 by 25.3% during the first quarter. Highland Capital Management LLC now owns 3,477 shares of the technology company’s stock worth $278,000 after purchasing an additional 702 shares in the last quarter. Perpetual Ltd grew its holdings in Q2 by 4.7% during the 1st quarter. Perpetual Ltd now owns 787,636 shares of the technology company’s stock valued at $63,019,000 after purchasing an additional 35,660 shares in the last quarter. Finally, Robeco Institutional Asset Management B.V. increased its stake in Q2 by 7.7% during the 1st quarter. Robeco Institutional Asset Management B.V. now owns 140,251 shares of the technology company’s stock worth $11,221,000 after buying an additional 10,000 shares during the period.

Q2 Company Profile

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.