Q2 (NYSE:QTWO) Price Target Cut to $75.00 by Analysts at JPMorgan Chase & Co.

Q2 (NYSE:QTWO) had its price objective dropped by equities researchers at JPMorgan Chase & Co. from $100.00 to $75.00 in a note issued to investors on Wednesday,Benzinga reports. The brokerage currently has an “overweight” rating on the technology company’s stock. JPMorgan Chase & Co.‘s price objective would indicate a potential upside of 42.78% from the company’s previous close.

QTWO has been the subject of several other research reports. DA Davidson upgraded shares of Q2 from a “neutral” rating to a “buy” rating and set a $82.00 price target for the company in a research report on Tuesday, February 3rd. Stephens set a $90.00 target price on Q2 in a report on Friday, January 16th. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Q2 in a research report on Thursday, January 22nd. Needham & Company LLC lowered their price target on Q2 from $90.00 to $70.00 and set a “buy” rating on the stock in a report on Thursday, February 12th. Finally, UBS Group set a $67.00 price objective on Q2 in a research note on Thursday, February 12th. One analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and five have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, Q2 currently has an average rating of “Moderate Buy” and a consensus target price of $79.29.

Q2 Price Performance

Shares of Q2 stock traded down $0.06 during trading on Wednesday, hitting $52.53. The stock had a trading volume of 227,421 shares, compared to its average volume of 939,895. The business has a fifty day moving average of $66.85 and a two-hundred day moving average of $70.14. Q2 has a fifty-two week low of $51.34 and a fifty-two week high of $96.68. The firm has a market cap of $3.28 billion, a P/E ratio of 66.64 and a beta of 1.36.

Insider Buying and Selling at Q2

In related news, COO Himagiri K. Mukkamala sold 3,024 shares of the business’s stock in a transaction dated Wednesday, December 10th. The stock was sold at an average price of $73.68, for a total transaction of $222,808.32. Following the completion of the transaction, the chief operating officer owned 96,046 shares of the company’s stock, valued at approximately $7,076,669.28. The trade was a 3.05% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Kirk L. Coleman sold 8,559 shares of the company’s stock in a transaction on Wednesday, December 10th. The shares were sold at an average price of $73.68, for a total transaction of $630,627.12. Following the transaction, the insider owned 269,128 shares of the company’s stock, valued at approximately $19,829,351.04. The trade was a 3.08% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 20,883 shares of company stock worth $1,547,778 over the last three months. Corporate insiders own 0.31% of the company’s stock.

Institutional Investors Weigh In On Q2

A number of institutional investors have recently added to or reduced their stakes in QTWO. Capital Research Global Investors lifted its holdings in shares of Q2 by 86.2% during the 4th quarter. Capital Research Global Investors now owns 3,141,044 shares of the technology company’s stock worth $226,658,000 after acquiring an additional 1,454,076 shares during the period. Vanguard Group Inc. increased its position in shares of Q2 by 13.5% during the 3rd quarter. Vanguard Group Inc. now owns 7,912,306 shares of the technology company’s stock worth $572,772,000 after purchasing an additional 941,672 shares in the last quarter. North Reef Capital Management LP boosted its holdings in shares of Q2 by 101.1% in the 3rd quarter. North Reef Capital Management LP now owns 1,690,000 shares of the technology company’s stock worth $122,339,000 after acquiring an additional 849,480 shares in the last quarter. UBS Group AG grew its position in Q2 by 343.5% during the 3rd quarter. UBS Group AG now owns 1,009,946 shares of the technology company’s stock worth $73,110,000 after acquiring an additional 782,220 shares during the last quarter. Finally, Norges Bank acquired a new stake in Q2 during the 2nd quarter valued at $60,466,000.

About Q2

Q2 Holdings, Inc develops and delivers cloud-based digital banking solutions that enable banks and credit unions to enhance customer and member experiences. The company’s core offerings include the Q2 Platform, a comprehensive suite of online and mobile banking applications for retail and commercial customers, as well as digital onboarding, payments, and fraud prevention tools. Q2’s platform also provides analytics and reporting capabilities designed to help financial institutions tailor products, optimize workflows, and drive engagement.

Founded in 2004 and headquartered in Austin, Texas, Q2 serves hundreds of financial institutions across the United States and Canada.