Royal Bank of Canada Raises Q2 (NYSE:QTWO) Price Target to $105.00

Q2 (NYSE:QTWO) had its target price lifted by Royal Bank of Canada from $76.00 to $105.00 in a note issued to investors on Thursday,Benzinga reports. The firm presently has a “sector perform” rating on the technology company’s stock. Royal Bank of Canada’s price target would indicate a potential upside of 1.44% from the company’s previous close.

Several other brokerages also recently weighed in on QTWO. The Goldman Sachs Group boosted their price objective on Q2 from $86.00 to $103.00 and gave the company a “buy” rating in a research report on Thursday. Piper Sandler boosted their target price on Q2 from $74.00 to $93.00 and gave the company a “neutral” rating in a research note on Thursday. Needham & Company LLC boosted their target price on Q2 from $90.00 to $120.00 and gave the company a “buy” rating in a research note on Thursday. DA Davidson reissued a “neutral” rating and set a $76.00 target price on shares of Q2 in a research note on Monday, September 30th. Finally, BTIG Research boosted their target price on Q2 from $75.00 to $82.00 and gave the company a “buy” rating in a research note on Monday, August 26th. Five equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $86.79.

Q2 Price Performance

NYSE:QTWO traded up $13.01 during mid-day trading on Thursday, reaching $103.51. The stock had a trading volume of 1,284,865 shares, compared to its average volume of 588,247. The company has a debt-to-equity ratio of 1.02, a quick ratio of 2.44 and a current ratio of 2.44. Q2 has a one year low of $32.97 and a one year high of $105.00. The firm has a 50 day moving average price of $79.23 and a two-hundred day moving average price of $68.85. The stock has a market capitalization of $6.24 billion, a P/E ratio of -90.21 and a beta of 1.58.

Q2 (NYSE:QTWO) last announced its quarterly earnings data on Wednesday, November 6th. The technology company reported ($0.03) earnings per share for the quarter, beating the consensus estimate of ($0.04) by $0.01. Q2 had a negative return on equity of 3.95% and a negative net margin of 10.40%. The firm had revenue of $175.02 million during the quarter, compared to the consensus estimate of $173.31 million. As a group, analysts expect that Q2 will post -0.02 earnings per share for the current year.

Insider Buying and Selling

In related news, CRO Michael A. Volanoski sold 1,428 shares of the stock in a transaction dated Thursday, September 12th. The stock was sold at an average price of $71.93, for a total transaction of $102,716.04. Following the completion of the sale, the executive now owns 227,672 shares in the company, valued at approximately $16,376,446.96. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other Q2 news, CRO Michael A. Volanoski sold 1,428 shares of the firm’s stock in a transaction that occurred on Thursday, September 12th. The stock was sold at an average price of $71.93, for a total transaction of $102,716.04. Following the completion of the transaction, the executive now owns 227,672 shares in the company, valued at $16,376,446.96. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, Director James Offerdahl sold 1,013 shares of the firm’s stock in a transaction that occurred on Wednesday, August 28th. The shares were sold at an average price of $73.97, for a total value of $74,931.61. Following the transaction, the director now owns 18,789 shares of the company’s stock, valued at $1,389,822.33. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 41,963 shares of company stock worth $3,109,699. 3.00% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Q2

Several institutional investors have recently modified their holdings of the stock. CWM LLC lifted its stake in shares of Q2 by 54.2% during the 2nd quarter. CWM LLC now owns 481 shares of the technology company’s stock worth $29,000 after acquiring an additional 169 shares during the last quarter. International Assets Investment Management LLC lifted its stake in shares of Q2 by 7,878.3% during the 3rd quarter. International Assets Investment Management LLC now owns 1,835 shares of the technology company’s stock worth $146,000 after acquiring an additional 1,812 shares during the last quarter. Asset Management One Co. Ltd. raised its position in Q2 by 108.1% during the 3rd quarter. Asset Management One Co. Ltd. now owns 1,856 shares of the technology company’s stock valued at $148,000 after purchasing an additional 964 shares in the last quarter. Quest Partners LLC bought a new stake in Q2 during the 2nd quarter valued at $153,000. Finally, SG Americas Securities LLC bought a new stake in Q2 during the 1st quarter valued at $173,000.

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.