Royal Bank of Canada Issues Positive Forecast for Q2 (NYSE:QTWO) Stock Price

Q2 (NYSE:QTWO) had its price target boosted by Royal Bank of Canada from $76.00 to $105.00 in a research report report published on Thursday,Benzinga reports. They currently have a sector perform rating on the technology company’s stock.

A number of other brokerages have also recently commented on QTWO. Needham & Company LLC increased their target price on Q2 from $90.00 to $120.00 and gave the company a “buy” rating in a report on Thursday. Piper Sandler increased their price objective on Q2 from $74.00 to $93.00 and gave the company a “neutral” rating in a research note on Thursday. Stifel Nicolaus lifted their price objective on Q2 from $65.00 to $85.00 and gave the stock a “buy” rating in a research report on Thursday, August 1st. Truist Financial restated a “buy” rating and issued a $100.00 target price (up from $78.00) on shares of Q2 in a report on Thursday. Finally, BTIG Research raised their price target on shares of Q2 from $75.00 to $82.00 and gave the stock a “buy” rating in a research note on Monday, August 26th. Five analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $90.79.

Q2 Stock Performance

Shares of NYSE:QTWO traded up $0.53 during midday trading on Thursday, hitting $102.78. 842,638 shares of the stock were exchanged, compared to its average volume of 593,743. Q2 has a twelve month low of $32.97 and a twelve month high of $105.00. The company has a current ratio of 2.44, a quick ratio of 2.44 and a debt-to-equity ratio of 1.02. The company has a 50 day moving average price of $79.80 and a 200-day moving average price of $69.08.

Q2 (NYSE:QTWO) last announced its earnings results on Wednesday, November 6th. The technology company reported ($0.03) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.04) by $0.01. Q2 had a negative net margin of 8.40% and a negative return on equity of 2.34%. The company had revenue of $175.02 million during the quarter, compared to analysts’ expectations of $173.31 million. As a group, equities analysts expect that Q2 will post -0.02 EPS for the current fiscal year.

Insider Buying and Selling

In other Q2 news, General Counsel Michael S. Kerr sold 517 shares of the business’s stock in a transaction dated Wednesday, September 11th. The stock was sold at an average price of $70.86, for a total transaction of $36,634.62. Following the completion of the sale, the general counsel now owns 61,130 shares of the company’s stock, valued at approximately $4,331,671.80. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Q2 news, General Counsel Michael S. Kerr sold 517 shares of Q2 stock in a transaction that occurred on Wednesday, September 11th. The shares were sold at an average price of $70.86, for a total transaction of $36,634.62. Following the transaction, the general counsel now directly owns 61,130 shares of the company’s stock, valued at $4,331,671.80. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director James Offerdahl sold 1,013 shares of the stock in a transaction on Wednesday, August 28th. The stock was sold at an average price of $73.97, for a total transaction of $74,931.61. Following the completion of the sale, the director now directly owns 18,789 shares of the company’s stock, valued at $1,389,822.33. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 41,963 shares of company stock valued at $3,109,699. 3.00% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Q2

Several institutional investors and hedge funds have recently modified their holdings of QTWO. Hood River Capital Management LLC purchased a new stake in shares of Q2 during the 1st quarter valued at about $62,765,000. American Century Companies Inc. grew its position in Q2 by 5,990.6% in the second quarter. American Century Companies Inc. now owns 1,210,143 shares of the technology company’s stock valued at $73,008,000 after acquiring an additional 1,190,274 shares in the last quarter. Perpetual Ltd purchased a new stake in shares of Q2 during the third quarter valued at approximately $80,788,000. Price T Rowe Associates Inc. MD lifted its position in shares of Q2 by 1,910.0% during the first quarter. Price T Rowe Associates Inc. MD now owns 719,767 shares of the technology company’s stock worth $37,832,000 after purchasing an additional 683,957 shares in the last quarter. Finally, Venturi Wealth Management LLC boosted its stake in shares of Q2 by 139.5% in the third quarter. Venturi Wealth Management LLC now owns 608,721 shares of the technology company’s stock valued at $48,558,000 after purchasing an additional 354,524 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.