The Goldman Sachs Group Issues Pessimistic Forecast for Q2 (NYSE:QTWO) Stock Price

Q2 (NYSE:QTWO) had its price objective decreased by research analysts at The Goldman Sachs Group from $119.00 to $106.00 in a report released on Friday,Benzinga reports. The brokerage currently has a “buy” rating on the technology company’s stock. The Goldman Sachs Group’s target price would suggest a potential upside of 31.34% from the stock’s current price.

Several other research firms have also issued reports on QTWO. Stifel Nicolaus raised their price target on Q2 from $115.00 to $125.00 and gave the stock a “buy” rating in a research report on Thursday, February 13th. Robert W. Baird restated a “neutral” rating and set a $99.00 target price (up from $89.00) on shares of Q2 in a research report on Friday, January 10th. Royal Bank of Canada increased their price target on shares of Q2 from $105.00 to $108.00 and gave the company a “sector perform” rating in a research report on Thursday, February 13th. Baird R W lowered shares of Q2 from a “strong-buy” rating to a “hold” rating in a report on Friday, January 10th. Finally, KeyCorp raised shares of Q2 from a “sector weight” rating to an “overweight” rating and set a $126.00 price target for the company in a report on Wednesday, December 18th. Seven investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $105.47.

Q2 Stock Performance

QTWO stock opened at $80.71 on Friday. The company has a 50 day moving average price of $86.84 and a 200 day moving average price of $90.66. Q2 has a fifty-two week low of $46.50 and a fifty-two week high of $112.82. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.40 and a quick ratio of 1.40. The stock has a market capitalization of $4.90 billion, a PE ratio of -124.16 and a beta of 1.62.

Q2 (NYSE:QTWO) last released its earnings results on Wednesday, February 12th. The technology company reported $0.18 earnings per share for the quarter, missing analysts’ consensus estimates of $0.48 by ($0.30). Q2 had a positive return on equity of 0.85% and a negative net margin of 5.53%. Analysts forecast that Q2 will post 0.67 EPS for the current year.

Insiders Place Their Bets

In related news, Director James Offerdahl sold 1,000 shares of the stock in a transaction that occurred 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 transaction, the director now directly owns 17,241 shares of the company’s stock, valued at approximately $1,516,518.36. This represents a 5.48 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Kimberly Anne Rutledge sold 6,656 shares of the business’s stock in a transaction that occurred on Wednesday, March 12th. The stock was sold at an average price of $74.12, for a total value of $493,342.72. Following the transaction, the insider now directly owns 113,278 shares in the company, valued at $8,396,165.36. This trade represents a 5.55 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 157,835 shares of company stock valued at $11,959,517 in the last quarter. 3.00% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Q2

Hedge funds and other institutional investors have recently made changes to their positions in the company. Proficio Capital Partners LLC bought a new position in shares of Q2 in the 4th quarter valued at about $29,000. Quarry LP increased its position in Q2 by 988.2% during the third quarter. Quarry LP now owns 370 shares of the technology company’s stock worth $30,000 after buying an additional 336 shares during the last quarter. SBI Securities Co. Ltd. bought a new stake in Q2 in the fourth quarter valued at approximately $30,000. TCTC Holdings LLC acquired a new stake in shares of Q2 in the fourth quarter valued at approximately $30,000. Finally, Ameliora Wealth Management Ltd. bought a new position in shares of Q2 during the 4th quarter worth approximately $32,000.

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.