Royal Bank of Canada Raises Q2 (NYSE:QTWO) Price Target to $108.00

Q2 (NYSE:QTWO) had its target price raised by stock analysts at Royal Bank of Canada from $105.00 to $108.00 in a research report issued to clients and 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 points to a potential upside of 16.13% from the company’s current price.

QTWO has been the topic of several other research reports. Truist Financial restated a “buy” rating and issued a $110.00 price objective (up previously from $100.00) on shares of Q2 in a research note on Thursday. Baird R W lowered shares of Q2 from a “strong-buy” rating to a “hold” rating in a research report on Friday, January 10th. Needham & Company LLC upped their price objective on shares of Q2 from $120.00 to $125.00 and gave the company a “buy” rating in a research report on Thursday. Compass Point increased their target price on shares of Q2 from $91.00 to $107.00 and gave the company a “buy” rating in a research note on Thursday, November 7th. Finally, The Goldman Sachs Group boosted their price target on Q2 from $86.00 to $103.00 and gave the company a “buy” rating in a research note on Thursday, November 7th. Seven analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $102.13.

Q2 Stock Performance

QTWO stock traded up $0.98 during mid-day trading on Thursday, reaching $93.00. 809,118 shares of the stock traded hands, compared to its average volume of 634,395. The firm has a market capitalization of $5.62 billion, a PE ratio of -96.88 and a beta of 1.61. The business has a 50-day moving average of $98.99 and a two-hundred day moving average of $88.08. Q2 has a 52 week low of $41.23 and a 52 week high of $112.82. The company has a quick ratio of 2.50, a current ratio of 2.50 and a debt-to-equity ratio of 0.99.

Q2 (NYSE:QTWO) last announced its earnings results on Wednesday, February 12th. The technology company reported $0.18 earnings per share for the quarter, missing the consensus estimate of $0.48 by ($0.30). Q2 had a negative net margin of 8.40% and a negative return on equity of 2.30%. As a group, equities analysts predict that Q2 will post 0.08 EPS for the current fiscal year.

Insider Activity at Q2

In related news, Director James Offerdahl sold 548 shares of the stock in a transaction that occurred on Friday, November 22nd. The stock was sold at an average price of $104.95, for a total transaction of $57,512.60. Following the sale, the director now directly owns 18,241 shares in the company, valued at $1,914,392.95. This represents a 2.92 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, President Kirk L. Coleman sold 8,559 shares of Q2 stock in a transaction on Tuesday, December 10th. The shares were sold at an average price of $106.00, for a total value of $907,254.00. Following the completion of the transaction, the president now owns 340,903 shares of the company’s stock, valued at approximately $36,135,718. The trade was a 2.45 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 28,836 shares of company stock valued at $3,061,035 in the last 90 days. 3.00% of the stock is owned by corporate insiders.

Institutional Trading of Q2

A number of hedge funds and other institutional investors have recently modified their holdings of QTWO. Raymond James Financial Inc. acquired a new position in Q2 during the 4th quarter worth $18,271,000. Trek Financial LLC acquired a new position in shares of Q2 during the fourth quarter valued at $346,000. Russell Investments Group Ltd. boosted its holdings in Q2 by 21.7% in the fourth quarter. Russell Investments Group Ltd. now owns 33,489 shares of the technology company’s stock valued at $3,371,000 after acquiring an additional 5,965 shares during the last quarter. Envestnet Asset Management Inc. increased its position in Q2 by 1.7% in the fourth quarter. Envestnet Asset Management Inc. now owns 97,356 shares of the technology company’s stock worth $9,799,000 after purchasing an additional 1,622 shares during the period. Finally, Dynamic Technology Lab Private Ltd acquired a new stake in Q2 in the fourth quarter worth about $299,000.

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.