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

Q2 (NYSE:QTWO) had its target price hoisted by equities researchers at Royal Bank of Canada from $76.00 to $105.00 in a research note issued to investors on Thursday,Benzinga reports. The brokerage presently has a “sector perform” rating on the technology company’s stock. Royal Bank of Canada’s price objective points to a potential upside of 1.44% from the company’s current price.

Several other research analysts also recently weighed in on QTWO. Piper Sandler boosted their target price on Q2 from $74.00 to $93.00 and gave the stock a “neutral” rating in a research note on Thursday. BTIG Research boosted their price objective on Q2 from $75.00 to $82.00 and gave the stock a “buy” rating in a research note on Monday, August 26th. Stifel Nicolaus upped their price target on Q2 from $65.00 to $85.00 and gave the company a “buy” rating in a research report on Thursday, August 1st. The Goldman Sachs Group upped their price target on Q2 from $86.00 to $103.00 and gave the company a “buy” rating in a research report on Thursday. Finally, Stephens upped their price target on Q2 from $75.00 to $100.00 and gave the company an “overweight” rating in a research report on Thursday. Five research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. Based on data from MarketBeat, Q2 has a consensus rating of “Moderate Buy” and a consensus price target of $86.79.

Q2 Stock Up 14.4 %

Shares of NYSE:QTWO traded up $13.01 on Thursday, reaching $103.51. The company had a trading volume of 1,284,865 shares, compared to its average volume of 588,247. Q2 has a 52-week low of $32.97 and a 52-week high of $105.00. The firm’s 50 day simple moving average is $79.23 and its 200-day simple moving average is $68.85. The firm has a market capitalization of $6.24 billion, a PE ratio of -90.21 and a beta of 1.58. The company has a current ratio of 2.44, a quick ratio of 2.44 and a debt-to-equity ratio of 1.02.

Q2 (NYSE:QTWO) last announced its quarterly earnings results on Wednesday, November 6th. The technology company reported ($0.03) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 business had revenue of $175.02 million for 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 fiscal year.

Insider Buying and Selling

In related news, EVP Jonathan Price sold 11,000 shares of the company’s stock in a transaction that occurred on Friday, August 16th. The shares were sold at an average price of $71.64, for a total transaction of $788,040.00. Following the sale, the executive vice president now directly owns 215,079 shares of the company’s stock, valued at $15,408,259.56. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Q2 news, EVP Jonathan Price sold 11,000 shares of the business’s stock in a transaction that occurred on Friday, August 16th. The shares were sold at an average price of $71.64, for a total transaction of $788,040.00. Following the completion of the transaction, the executive vice president now owns 215,079 shares in the company, valued at $15,408,259.56. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CRO Michael A. Volanoski sold 1,428 shares of the business’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 transaction, the executive now owns 227,672 shares of the company’s stock, valued at $16,376,446.96. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 41,963 shares of company stock valued at $3,109,699 in the last ninety days. Company insiders own 3.00% of the company’s stock.

Hedge Funds Weigh In On Q2

A number of large investors have recently made changes to their positions in QTWO. DekaBank Deutsche Girozentrale grew its stake in Q2 by 67.4% in the 1st quarter. DekaBank Deutsche Girozentrale now owns 55,617 shares of the technology company’s stock valued at $2,908,000 after acquiring an additional 22,400 shares during the last quarter. Perpetual Ltd acquired a new stake in Q2 in the 3rd quarter valued at about $80,788,000. Oppenheimer & Co. Inc. acquired a new stake in Q2 in the 1st quarter valued at about $1,055,000. Picton Mahoney Asset Management acquired a new stake in Q2 in the 1st quarter valued at about $5,591,000. Finally, Price T Rowe Associates Inc. MD grew its stake in Q2 by 1,910.0% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 719,767 shares of the technology company’s stock valued at $37,832,000 after acquiring an additional 683,957 shares during the last quarter.

Q2 Company Profile

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.