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

Q2 (NYSE:QTWO) had its price target upped by Royal Bank of Canada from $105.00 to $108.00 in a report released on Thursday,Benzinga reports. The firm currently has a “sector perform” rating on the technology company’s stock. Royal Bank of Canada’s price objective would suggest a potential upside of 18.34% from the stock’s current price.

A number of other analysts also recently issued reports on QTWO. Raymond James raised their target price on Q2 from $100.00 to $110.00 and gave the stock an “outperform” rating in a research report on Thursday. Piper Sandler lifted their price objective on Q2 from $74.00 to $93.00 and gave the company a “neutral” rating in a research note on Thursday, November 7th. The Goldman Sachs Group lifted their price target on Q2 from $86.00 to $103.00 and gave the stock a “buy” rating in a research note on Thursday, November 7th. Robert W. Baird reiterated a “neutral” rating and issued a $99.00 price objective (up previously from $89.00) on shares of Q2 in a report on Friday, January 10th. Finally, Needham & Company LLC lifted their price objective on Q2 from $120.00 to $125.00 and gave the stock a “buy” rating in a report on Thursday. Seven equities research 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 target price of $102.13.

Q2 Stock Down 1.7 %

Shares of NYSE:QTWO opened at $91.26 on Thursday. The business’s 50 day simple moving average is $98.66 and its two-hundred day simple moving average is $88.12. The firm has a market cap of $5.51 billion, a P/E ratio of -95.06 and a beta of 1.61. The company has a debt-to-equity ratio of 0.99, a quick ratio of 2.50 and a current ratio of 2.50. Q2 has a 52-week low of $41.23 and a 52-week high of $112.82.

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

Insider Buying and Selling

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

Institutional Investors Weigh In On Q2

Several institutional investors have recently bought and sold shares of QTWO. Conestoga Capital Advisors LLC increased its stake in Q2 by 1.5% during the 3rd quarter. Conestoga Capital Advisors LLC now owns 2,308,194 shares of the technology company’s stock valued at $184,125,000 after buying an additional 34,300 shares during the period. William Blair Investment Management LLC purchased a new position in shares of Q2 in the fourth quarter worth approximately $202,645,000. State Street Corp increased its position in shares of Q2 by 0.3% in the third quarter. State Street Corp now owns 1,668,767 shares of the technology company’s stock worth $133,118,000 after acquiring an additional 5,000 shares in the last quarter. Capital Research Global Investors increased its position in shares of Q2 by 11.2% in the fourth quarter. Capital Research Global Investors now owns 1,518,376 shares of the technology company’s stock worth $152,825,000 after acquiring an additional 152,872 shares in the last quarter. Finally, Geode Capital Management LLC boosted its holdings in shares of Q2 by 2.7% during the fourth quarter. Geode Capital Management LLC now owns 1,389,181 shares of the technology company’s stock worth $140,175,000 after purchasing an additional 36,025 shares during the period.

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.