Q2 (NYSE:QTWO) Price Target Cut to $97.00 by Analysts at KeyCorp

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Q2 (NYSE:QTWO) had its price target trimmed by KeyCorp from $102.00 to $97.00 in a report released on Friday, The Fly reports. The firm currently has an overweight rating on the technology company’s stock.

Several other research analysts have also recently weighed in on QTWO. JPMorgan Chase & Co. upped their price objective on shares of Q2 from $78.00 to $90.00 and gave the stock an overweight rating in a research report on Thursday, August 8th. Stifel Nicolaus upped their price objective on shares of Q2 from $74.00 to $82.00 and gave the stock a buy rating in a research report on Thursday, August 8th. ValuEngine upgraded shares of Q2 from a hold rating to a buy rating in a research report on Friday, November 1st. Compass Point initiated coverage on shares of Q2 in a research report on Tuesday, August 13th. They set a buy rating and a $105.00 price target on the stock. Finally, Canaccord Genuity upgraded shares of Q2 from a hold rating to a buy rating and increased their price target for the company from $70.00 to $97.00 in a research report on Thursday, September 12th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and sixteen have given a buy rating to the company. The company presently has a consensus rating of Buy and a consensus target price of $83.67.

Shares of QTWO stock traded up $3.28 during trading on Friday, hitting $72.06. The company had a trading volume of 738,798 shares, compared to its average volume of 425,662. The company has a quick ratio of 6.72, a current ratio of 6.72 and a debt-to-equity ratio of 1.14. The stock’s 50-day moving average is $74.15 and its two-hundred day moving average is $77.56. The stock has a market capitalization of $3.30 billion, a price-to-earnings ratio of -194.76 and a beta of 1.24. Q2 has a 52 week low of $43.41 and a 52 week high of $93.63.

Q2 (NYSE:QTWO) last posted its quarterly earnings data on Wednesday, November 6th. The technology company reported $0.05 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.17) by $0.22. The company had revenue of $79.70 million for the quarter, compared to analysts’ expectations of $79.26 million. Q2 had a negative net margin of 20.73% and a negative return on equity of 13.40%. Q2’s revenue for the quarter was up 31.6% compared to the same quarter last year. During the same period in the prior year, the business earned $0.09 earnings per share. On average, research analysts predict that Q2 will post -0.68 EPS for the current fiscal year.

In other news, EVP Odus Edward Wittenburg, Jr. sold 21,250 shares of the stock in a transaction that occurred on Friday, August 23rd. The stock was sold at an average price of $90.10, for a total transaction of $1,914,625.00. Following the completion of the sale, the executive vice president now owns 84,923 shares of the company’s stock, valued at $7,651,562.30. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CEO Matthew P. Flake sold 25,000 shares of the stock in a transaction that occurred on Friday, August 30th. The shares were sold at an average price of $89.14, for a total value of $2,228,500.00. Following the sale, the chief executive officer now directly owns 323,999 shares of the company’s stock, valued at approximately $28,881,270.86. The disclosure for this sale can be found here. Insiders have sold 275,326 shares of company stock worth $21,984,172 over the last quarter. Company insiders own 12.80% of the company’s stock.

Large investors have recently added to or reduced their stakes in the company. Laurion Capital Management LP purchased a new stake in shares of Q2 during the second quarter valued at approximately $3,394,000. Bank of Montreal Can boosted its stake in shares of Q2 by 37.6% during the second quarter. Bank of Montreal Can now owns 112,391 shares of the technology company’s stock valued at $8,582,000 after purchasing an additional 30,707 shares during the period. Myriad Asset Management Ltd. purchased a new stake in shares of Q2 during the second quarter valued at approximately $1,214,000. Waddell & Reed Financial Inc. boosted its stake in shares of Q2 by 27.4% during the second quarter. Waddell & Reed Financial Inc. now owns 1,376,062 shares of the technology company’s stock valued at $105,076,000 after purchasing an additional 295,811 shares during the period. Finally, Northern Trust Corp boosted its stake in shares of Q2 by 5.2% during the second quarter. Northern Trust Corp now owns 502,001 shares of the technology company’s stock valued at $38,332,000 after purchasing an additional 24,912 shares during the period.

About Q2

Q2 Holdings, Inc provides cloud-based digital banking solutions to regional and community financial institutions (RCFIs) in the United States. It offers Q2 Digital Banking and Transactions, a browser-based digital banking solution that delivers RCFI-branded digital banking capabilities; Q2mobility App, a mobile and tablet digital banking solution; Q2mobile Remote Deposit Capture, a partnered solution that allows remote check deposit capture; and Q2 Person-to-Person Payments, a partnered secure and integrated person-to-person payments solution.

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