Q2 (NYSE:QTWO) Given New $62.00 Price Target at Needham & Company LLC

Q2 (NYSE:QTWOGet Rating) had its target price trimmed by Needham & Company LLC from $68.00 to $62.00 in a research report report published on Friday morning, Marketbeat reports. The firm currently has a buy rating on the technology company’s stock.

Other analysts also recently issued reports about the company. Piper Sandler dropped their price objective on Q2 from $52.00 to $41.00 and set a neutral rating for the company in a research report on Monday, July 18th. DA Davidson dropped their price objective on Q2 from $94.00 to $74.00 in a research report on Tuesday, April 26th. Stephens upped their price objective on Q2 to $55.00 in a research report on Thursday, May 26th. Robert W. Baird dropped their price objective on Q2 from $92.00 to $77.00 in a research report on Wednesday, May 4th. Finally, Truist Financial lowered their target price on Q2 from $125.00 to $85.00 in a report on Wednesday, May 4th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and six have given a buy rating to the stock. According to MarketBeat.com, the company has an average rating of Moderate Buy and a consensus price target of $73.58.

Q2 Price Performance

NYSE:QTWO opened at $43.92 on Friday. The stock has a fifty day moving average price of $42.08 and a 200-day moving average price of $52.38. The company has a current ratio of 2.98, a quick ratio of 2.98 and a debt-to-equity ratio of 1.47. Q2 has a fifty-two week low of $34.42 and a fifty-two week high of $92.89.

Insider Activity

In related news, CRO Michael A. Volanoski sold 2,593 shares of the firm’s stock in a transaction that occurred on Friday, June 10th. The stock was sold at an average price of $40.25, for a total transaction of $104,368.25. Following the completion of the sale, the executive now owns 69,136 shares of the company’s stock, valued at $2,782,724. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 3.50% of the company’s stock.

Institutional Investors Weigh In On Q2

Several large investors have recently added to or reduced their stakes in QTWO. Wasatch Advisors Inc. grew its stake in Q2 by 37.5% during the fourth quarter. Wasatch Advisors Inc. now owns 4,112,578 shares of the technology company’s stock worth $326,703,000 after purchasing an additional 1,120,845 shares during the period. Conestoga Capital Advisors LLC boosted its holdings in Q2 by 36.8% in the first quarter. Conestoga Capital Advisors LLC now owns 2,316,267 shares of the technology company’s stock worth $142,798,000 after acquiring an additional 623,364 shares in the last quarter. Champlain Investment Partners LLC boosted its holdings in Q2 by 33.6% in the fourth quarter. Champlain Investment Partners LLC now owns 2,146,140 shares of the technology company’s stock worth $170,489,000 after acquiring an additional 540,000 shares in the last quarter. Stephens Investment Management Group LLC boosted its holdings in Q2 by 24.5% in the first quarter. Stephens Investment Management Group LLC now owns 770,920 shares of the technology company’s stock worth $47,527,000 after acquiring an additional 151,917 shares in the last quarter. Finally, Massachusetts Financial Services Co. MA boosted its holdings in Q2 by 12.7% in the first quarter. Massachusetts Financial Services Co. MA now owns 1,325,774 shares of the technology company’s stock worth $81,734,000 after acquiring an additional 148,983 shares in the last quarter.

Q2 Company Profile

(Get Rating)

Q2 Holdings, Inc provides cloud-based digital banking solutions to regional and community financial institutions (RCFIs) in the United States. The company offers Q2 Consumer Banking, a browser-based digital banking solution and comprehensive financial institution branded digital banking capabilities; Q2 Small Business and Commercial, a mobile and tablet digital banking solution; Q2mobile Remote Deposit Capture, a partnered solution that allows remote check deposit capture.

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