Q2 (NYSE:QTWO) Given New $60.00 Price Target at JPMorgan Chase & Co.

Q2 (NYSE:QTWO) had its price target decreased by analysts at JPMorgan Chase & Co. from $80.00 to $60.00 in a note issued to investors on Monday,Benzinga reports. The brokerage presently has an “overweight” rating on the technology company’s stock. JPMorgan Chase & Co.‘s target price suggests a potential upside of 41.16% from the company’s previous close.

Several other analysts have also recently commented on QTWO. Morgan Stanley set a $63.00 price target on Q2 in a report on Thursday, April 30th. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Q2 in a report on Tuesday, April 21st. UBS Group set a $77.00 price objective on Q2 in a research report on Thursday, April 30th. Robert W. Baird set a $74.00 target price on shares of Q2 in a research report on Thursday, April 30th. Finally, Needham & Company LLC reaffirmed a “buy” rating and set a $70.00 price target on shares of Q2 in a research note on Thursday, April 30th. Seven analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $73.45.

Q2 Trading Down 0.8%

Shares of Q2 stock opened at $42.51 on Monday. The company has a fifty day simple moving average of $47.38 and a 200-day simple moving average of $55.71. The stock has a market cap of $2.66 billion, a price-to-earnings ratio of 38.03 and a beta of 1.34. Q2 has a 12-month low of $42.28 and a 12-month high of $96.68.

Q2 (NYSE:QTWO) last announced its earnings results on Wednesday, April 29th. The technology company reported $0.63 earnings per share for the quarter, missing the consensus estimate of $0.71 by ($0.08). The business had revenue of $216.51 million for the quarter, compared to analyst estimates of $214.40 million. Q2 had a return on equity of 14.68% and a net margin of 8.99%.Q2’s quarterly revenue was up 14.1% on a year-over-year basis. During the same quarter last year, the company posted $0.07 EPS. On average, analysts forecast that Q2 will post 1.57 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of QTWO. Vanguard Group Inc. lifted its stake in shares of Q2 by 1.0% during the fourth quarter. Vanguard Group Inc. now owns 7,995,133 shares of the technology company’s stock valued at $576,929,000 after buying an additional 82,827 shares during the period. Capital Research Global Investors boosted its stake in Q2 by 86.2% in the 4th quarter. Capital Research Global Investors now owns 3,141,044 shares of the technology company’s stock worth $226,658,000 after buying an additional 1,454,076 shares during the last quarter. William Blair Investment Management LLC increased its stake in shares of Q2 by 25.9% during the 4th quarter. William Blair Investment Management LLC now owns 2,694,718 shares of the technology company’s stock valued at $194,451,000 after acquiring an additional 553,713 shares during the last quarter. Wasatch Advisors LP boosted its position in shares of Q2 by 2.9% in the third quarter. Wasatch Advisors LP now owns 2,158,053 shares of the technology company’s stock worth $156,221,000 after acquiring an additional 60,016 shares during the last quarter. Finally, North Reef Capital Management LP increased its position in Q2 by 101.1% during the third quarter. North Reef Capital Management LP now owns 1,690,000 shares of the technology company’s stock worth $122,339,000 after purchasing an additional 849,480 shares during the last quarter.

Q2 Company Profile

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.