Robert W. Baird Reaffirms Neutral Rating for Q2 (NYSE:QTWO)

Q2 (NYSE:QTWO)‘s stock had its “neutral” rating reiterated by Robert W. Baird in a research report issued to clients and investors on Friday, Marketbeat Ratings reports. They currently have a $99.00 price target on the technology company’s stock, up from their prior price target of $89.00. Robert W. Baird’s target price suggests a potential upside of 11.39% from the company’s previous close.

Several other brokerages have also issued reports on QTWO. Royal Bank of Canada lifted their price target on Q2 from $76.00 to $105.00 and gave the company a “sector perform” rating in a research note on Thursday, November 7th. Compass Point raised their price target on shares of Q2 from $91.00 to $107.00 and gave the company a “buy” rating in a research note on Thursday, November 7th. Stifel Nicolaus upped their price objective on shares of Q2 from $100.00 to $115.00 and gave the stock a “buy” rating in a research report on Wednesday, December 18th. Piper Sandler boosted their target price on shares of Q2 from $74.00 to $93.00 and gave the stock a “neutral” rating in a research note on Thursday, November 7th. Finally, Morgan Stanley increased their price target on Q2 from $65.00 to $90.00 and gave the company an “equal weight” rating in a research note on Thursday, November 7th. Seven equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $98.07.

Q2 Trading Down 11.0 %

QTWO opened at $88.88 on Friday. The company has a quick ratio of 2.50, a current ratio of 2.50 and a debt-to-equity ratio of 0.99. Q2 has a twelve month low of $40.60 and a twelve month high of $112.82. The stock has a market capitalization of $5.37 billion, a price-to-earnings ratio of -92.58 and a beta of 1.61. The company has a 50-day simple moving average of $102.29 and a 200 day simple moving average of $83.29.

Insider Activity

In other news, President Kirk L. Coleman sold 8,559 shares of the company’s stock in a transaction on Tuesday, December 10th. The shares were sold at an average price of $106.00, for a total value of $907,254.00. Following the completion of the sale, the president now owns 340,903 shares in the company, valued at $36,135,718. This represents a 2.45 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director James Offerdahl sold 548 shares of the firm’s stock in a transaction dated Friday, November 22nd. The shares were sold at an average price of $104.95, for a total transaction of $57,512.60. Following the transaction, the director now directly owns 18,241 shares in the company, valued at $1,914,392.95. The trade was a 2.92 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 28,836 shares of company stock worth $3,061,035 in the last three months. Company insiders own 3.00% of the company’s stock.

Hedge Funds Weigh In On Q2

Several hedge funds have recently modified their holdings of QTWO. Quarry LP boosted its position in Q2 by 988.2% in the third quarter. Quarry LP now owns 370 shares of the technology company’s stock worth $30,000 after purchasing an additional 336 shares during the last quarter. CWM LLC boosted its holdings in shares of Q2 by 199.8% in the 3rd quarter. CWM LLC now owns 1,442 shares of the technology company’s stock worth $115,000 after buying an additional 961 shares during the last quarter. International Assets Investment Management LLC grew its position in Q2 by 7,878.3% during the third quarter. International Assets Investment Management LLC now owns 1,835 shares of the technology company’s stock valued at $146,000 after buying an additional 1,812 shares during the period. Asset Management One Co. Ltd. increased its holdings in Q2 by 108.1% during the third quarter. Asset Management One Co. Ltd. now owns 1,856 shares of the technology company’s stock worth $148,000 after buying an additional 964 shares during the last quarter. Finally, Quest Partners LLC purchased a new position in Q2 in the second quarter valued at about $153,000.

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.