JPMorgan Chase & Co. Trims Q2 (QTWO) Target Price to $62.00

Q2 (NYSE:QTWO) had its target price decreased by research analysts at JPMorgan Chase & Co. to $62.00 in a research report issued to clients and investors on Wednesday, The Fly reports. The brokerage currently has a “neutral” rating on the technology company’s stock. JPMorgan Chase & Co.’s target price points to a potential upside of 17.16% from the stock’s current price.

Other research analysts have also issued reports about the stock. Royal Bank of Canada restated a “buy” rating and set a $65.00 target price on shares of Q2 in a research report on Thursday, August 9th. Craig Hallum set a $70.00 target price on shares of Q2 and gave the stock a “buy” rating in a research report on Thursday, August 9th. Needham & Company LLC upped their target price on shares of Q2 from $62.00 to $70.00 and gave the stock a “buy” rating in a research report on Thursday, August 9th. Stifel Nicolaus reiterated a “buy” rating and issued a $68.00 price target on shares of Q2 in a research report on Thursday, August 9th. Finally, DA Davidson increased their price target on shares of Q2 to $52.00 and gave the company a “neutral” rating in a research report on Thursday, August 9th. Nine analysts have rated the stock with a hold rating, seven have given a buy rating and one has given a strong buy rating to the stock. The company presently has a consensus rating of “Buy” and a consensus price target of $62.79.

Shares of Q2 stock opened at $52.92 on Wednesday. Q2 has a 52-week low of $36.25 and a 52-week high of $67.10. The company has a current ratio of 6.00, a quick ratio of 6.00 and a debt-to-equity ratio of 1.12. The stock has a market cap of $2.23 billion, a PE ratio of -110.25 and a beta of 1.49.

Q2 (NYSE:QTWO) last issued its earnings results on Tuesday, November 6th. The technology company reported ($0.08) earnings per share for the quarter, topping the consensus estimate of ($0.16) by $0.08. Q2 had a negative net margin of 12.88% and a negative return on equity of 13.06%. The company had revenue of $60.50 million for the quarter, compared to analyst estimates of $60.18 million. During the same period in the prior year, the business posted $0.03 earnings per share. The firm’s revenue for the quarter was up 20.8% compared to the same quarter last year. Equities analysts anticipate that Q2 will post -0.53 earnings per share for the current fiscal year.

In related news, Director Jeffrey T. Diehl sold 1,000,000 shares of the company’s stock in a transaction that occurred on Thursday, August 16th. The shares were sold at an average price of $58.25, for a total transaction of $58,250,000.00. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, insider William M. Furrer sold 10,062 shares of the company’s stock in a transaction that occurred on Tuesday, October 2nd. The shares were sold at an average price of $56.58, for a total transaction of $569,307.96. Following the transaction, the insider now directly owns 79,686 shares in the company, valued at approximately $4,508,633.88. The disclosure for this sale can be found here. Insiders sold 1,472,477 shares of company stock worth $86,758,418 over the last quarter. Company insiders own 17.90% of the company’s stock.

Institutional investors and hedge funds have recently made changes to their positions in the stock. SG Americas Securities LLC purchased a new position in shares of Q2 during the second quarter valued at approximately $132,000. Dynamic Technology Lab Private Ltd purchased a new position in shares of Q2 during the second quarter valued at approximately $200,000. Brick & Kyle Associates purchased a new position in shares of Q2 during the second quarter valued at approximately $228,000. Trexquant Investment LP purchased a new position in shares of Q2 during the second quarter valued at approximately $267,000. Finally, Public Employees Retirement Association of Colorado purchased a new position in shares of Q2 during the third quarter valued at approximately $285,000. 93.17% of the stock is currently owned by institutional investors and hedge funds.

Q2 Company Profile

Q2 Holdings, Inc provides cloud-based digital banking solutions to regional and community financial institutions (RCFIs) in the United States. It offers Q2online, a browser-based digital banking solution that delivers RCFI-branded digital banking capabilities; Q2 Sentinel, a security analytics solution; Q2 Corporate to support RCFIs to attract and retain larger commercial accounts; and Q2 SMART, a targeting and messaging platform.

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