Q2 (NYSE:QTWO) Given New $76.00 Price Target at Royal Bank of Canada

Q2 (NYSE:QTWO) had its target price lifted by Royal Bank of Canada from $60.00 to $76.00 in a report issued on Thursday, Benzinga reports. The brokerage currently has a “sector perform” rating on the technology company’s stock. Royal Bank of Canada’s price objective would indicate a potential upside of 5.53% from the stock’s previous close.

Several other brokerages also recently commented on QTWO. Needham & Company LLC increased their price objective on shares of Q2 from $58.00 to $65.00 and gave the company a “buy” rating in a research report on Thursday, May 2nd. BTIG Research boosted their price objective on shares of Q2 from $48.00 to $60.00 and gave the stock a “buy” rating in a report on Thursday, May 2nd. Stifel Nicolaus increased their target price on Q2 from $65.00 to $85.00 and gave the company a “buy” rating in a research note on Thursday. Morgan Stanley restated an “equal weight” rating and issued a $50.00 price target (up previously from $40.00) on shares of Q2 in a research note on Thursday, May 2nd. Finally, Piper Sandler boosted their target price on Q2 from $47.00 to $61.00 and gave the stock a “neutral” rating in a research report on Friday, May 3rd. Five analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $59.67.

Q2 Trading Up 6.7 %

Q2 stock traded up $4.55 during trading hours on Thursday, reaching $72.02. The stock had a trading volume of 570,643 shares, compared to its average volume of 610,336. The stock has a market cap of $4.33 billion, a PE ratio of -53.35 and a beta of 1.55. Q2 has a 52 week low of $28.91 and a 52 week high of $75.94. The company has a debt-to-equity ratio of 1.06, a current ratio of 2.38 and a quick ratio of 2.38. The company has a fifty day simple moving average of $62.41 and a 200-day simple moving average of $54.29.

Q2 (NYSE:QTWO) last announced its earnings results on Wednesday, May 1st. The technology company reported ($0.04) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.05) by $0.01. Q2 had a negative net margin of 12.35% and a negative return on equity of 5.88%. The firm had revenue of $165.51 million for the quarter, compared to analyst estimates of $163.58 million. Analysts forecast that Q2 will post -0.05 EPS for the current fiscal year.

Insider Buying and Selling

In other news, insider Kimberly Anne Rutledge sold 1,953 shares of the company’s stock in a transaction dated Thursday, July 11th. The shares were sold at an average price of $65.00, for a total value of $126,945.00. Following the transaction, the insider now directly owns 115,436 shares in the company, valued at $7,503,340. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In other Q2 news, EVP Jonathan Price sold 11,000 shares of the stock in a transaction on Thursday, June 27th. The stock was sold at an average price of $60.00, for a total transaction of $660,000.00. Following the sale, the executive vice president now owns 226,079 shares of the company’s stock, valued at approximately $13,564,740. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Kimberly Anne Rutledge sold 1,953 shares of the business’s stock in a transaction on Thursday, July 11th. The stock was sold at an average price of $65.00, for a total value of $126,945.00. Following the completion of the transaction, the insider now directly owns 115,436 shares of the company’s stock, valued at $7,503,340. The disclosure for this sale can be found here. Over the last quarter, insiders sold 84,637 shares of company stock worth $5,224,320. Corporate insiders own 3.60% of the company’s stock.

Institutional Investors Weigh In On Q2

A number of hedge funds have recently made changes to their positions in 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 purchasing an additional 169 shares during the last quarter. Natixis Advisors L.P. raised its stake in Q2 by 1.6% in the fourth quarter. Natixis Advisors L.P. now owns 16,188 shares of the technology company’s stock valued at $702,000 after buying an additional 259 shares during the last quarter. Contravisory Investment Management Inc. raised its stake in Q2 by 4.4% in the first quarter. Contravisory Investment Management Inc. now owns 7,164 shares of the technology company’s stock valued at $377,000 after buying an additional 304 shares during the last quarter. MCF Advisors LLC raised its stake in Q2 by 156.5% in the fourth quarter. MCF Advisors LLC now owns 613 shares of the technology company’s stock valued at $27,000 after buying an additional 374 shares during the last quarter. Finally, Panagora Asset Management Inc. raised its stake in Q2 by 3.1% in the second quarter. Panagora Asset Management Inc. now owns 13,659 shares of the technology company’s stock valued at $824,000 after buying an additional 407 shares during the last quarter.

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.