Q2 (NYSE:QTWO) Price Target Lowered to $89.00 at Morgan Stanley

Q2 (NYSE:QTWO) had its price objective lowered by equities researchers at Morgan Stanley from $95.00 to $89.00 in a note issued to investors on Tuesday,Benzinga reports. The firm currently has an “equal weight” rating on the technology company’s stock. Morgan Stanley’s price target indicates a potential upside of 13.10% from the company’s current price.

Other research analysts have also issued research reports about the company. Raymond James boosted their price objective on Q2 from $100.00 to $110.00 and gave the company an “outperform” rating in a research report on Thursday, February 13th. Baird R W downgraded shares of Q2 from a “strong-buy” rating to a “hold” rating in a report on Friday, January 10th. Citigroup increased their price objective on shares of Q2 from $96.00 to $100.00 and gave the stock a “neutral” rating in a report on Thursday, February 13th. Robert W. Baird reissued a “neutral” rating and set a $99.00 target price (up from $89.00) on shares of Q2 in a research note on Friday, January 10th. Finally, Truist Financial restated a “buy” rating and issued a $110.00 price target (up previously from $100.00) on shares of Q2 in a research note on Thursday, February 13th. Eight research analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to MarketBeat.com, Q2 has a consensus rating of “Moderate Buy” and a consensus price target of $102.27.

Q2 Stock Down 0.5 %

NYSE:QTWO opened at $78.69 on Tuesday. The company has a debt-to-equity ratio of 0.58, a quick ratio of 1.40 and a current ratio of 1.40. The stock has a 50-day simple moving average of $78.28 and a 200 day simple moving average of $90.24. Q2 has a one year low of $50.91 and a one year high of $112.82. The company has a market capitalization of $4.90 billion, a price-to-earnings ratio of -121.06 and a beta of 1.61.

Q2 (NYSE:QTWO) last posted its quarterly earnings results on Wednesday, February 12th. The technology company reported $0.18 EPS for the quarter, missing the consensus estimate of $0.48 by ($0.30). Q2 had a negative net margin of 5.53% and a positive return on equity of 0.85%. Sell-side analysts predict that Q2 will post 0.67 EPS for the current fiscal year.

Insider Activity at Q2

In other news, CEO Matthew P. Flake sold 56,799 shares of the stock in a transaction on Thursday, March 6th. The stock was sold at an average price of $78.28, for a total value of $4,446,225.72. Following the completion of the sale, the chief executive officer now owns 453,849 shares in the company, valued at $35,527,299.72. This represents a 11.12 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Kimberly Anne Rutledge sold 6,656 shares of the stock in a transaction dated Wednesday, March 12th. The stock was sold at an average price of $74.12, for a total value of $493,342.72. Following the completion of the sale, the insider now directly owns 113,278 shares of the company’s stock, valued at approximately $8,396,165.36. This represents a 5.55 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 193,858 shares of company stock valued at $14,853,965 over the last 90 days. 3.00% of the stock is currently owned by corporate insiders.

Institutional Trading of Q2

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