JPMorgan Chase & Co. Has Lowered Expectations for Q2 (NYSE:QTWO) Stock Price

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

Several other equities research analysts also recently weighed in on QTWO. Morgan Stanley set a $63.00 price target on Q2 in a research report on Thursday, April 30th. UBS Group set a $77.00 price objective on Q2 in a report on Thursday, April 30th. DA Davidson restated a “buy” rating and issued a $82.00 target price on shares of Q2 in a research note on Monday, June 1st. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Q2 in a report on Tuesday, April 21st. Finally, Needham & Company LLC reiterated a “buy” rating and set a $70.00 price target on shares of Q2 in a research report on Thursday, April 30th. Seven analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. Based on data from MarketBeat, Q2 presently has an average rating of “Moderate Buy” and an average price target of $73.45.

Q2 Price Performance

NYSE QTWO opened at $42.51 on Monday. The stock’s fifty day moving average price is $47.38 and its 200 day moving average price is $55.71. Q2 has a 1 year low of $42.28 and a 1 year high of $96.68. The company has a market cap of $2.66 billion, a price-to-earnings ratio of 38.03 and a beta of 1.34.

Q2 (NYSE:QTWO) last released its earnings results on Wednesday, April 29th. The technology company reported $0.63 EPS for the quarter, missing analysts’ consensus estimates of $0.71 by ($0.08). Q2 had a return on equity of 14.68% and a net margin of 8.99%.The firm had revenue of $216.51 million for the quarter, compared to analyst estimates of $214.40 million. The company’s revenue for the quarter was up 14.1% compared to the same quarter last year. During the same period last year, the firm earned $0.07 EPS. Research analysts expect that Q2 will post 1.57 earnings per share for the current year.

Hedge Funds Weigh In On Q2

Hedge funds and other institutional investors have recently made changes to their positions in the company. Pacer Advisors Inc. increased its position in shares of Q2 by 42.6% during the first quarter. Pacer Advisors Inc. now owns 1,656 shares of the technology company’s stock worth $78,000 after purchasing an additional 495 shares in the last quarter. Optiver Holding B.V. grew its stake in Q2 by 1,578.9% during the 1st quarter. Optiver Holding B.V. now owns 638 shares of the technology company’s stock valued at $30,000 after acquiring an additional 600 shares in the last quarter. Cim Investment Management Inc. lifted its stake in Q2 by 27.7% in the 1st quarter. Cim Investment Management Inc. now owns 8,425 shares of the technology company’s stock worth $399,000 after purchasing an additional 1,825 shares in the last quarter. Smith Group Asset Management LLC purchased a new stake in shares of Q2 in the first quarter valued at approximately $1,422,000. Finally, Amundi lifted its position in Q2 by 23.6% during the first quarter. Amundi now owns 9,003 shares of the technology company’s stock worth $426,000 after buying an additional 1,718 shares in 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.