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

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

QTWO has been the topic of a number of other reports. Citigroup downgraded shares of Q2 from a “buy” rating to a “neutral” rating and upped their target price for the stock from $72.00 to $90.00 in a research note on Friday, October 18th. Needham & Company LLC raised their price objective on Q2 from $90.00 to $120.00 and gave the stock a “buy” rating in a report on Thursday. Stifel Nicolaus upped their target price on Q2 from $65.00 to $85.00 and gave the stock a “buy” rating in a report on Thursday, August 1st. The Goldman Sachs Group raised their price target on Q2 from $86.00 to $103.00 and gave the company a “buy” rating in a research note on Thursday. Finally, Compass Point started coverage on shares of Q2 in a research note on Wednesday, September 4th. They issued a “buy” rating and a $91.00 price objective for the company. 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 currently has an average rating of “Moderate Buy” and a consensus target price of $90.79.

Q2 Trading Up 0.5 %

Shares of NYSE QTWO opened at $102.74 on Thursday. Q2 has a fifty-two week low of $32.97 and a fifty-two week high of $105.00. The company has a debt-to-equity ratio of 1.02, a quick ratio of 2.44 and a current ratio of 2.44. The company has a market cap of $6.21 billion, a price-to-earnings ratio of -107.02 and a beta of 1.58. The business’s 50 day moving average price is $80.37 and its 200-day moving average price is $69.55.

Q2 (NYSE:QTWO) last released its earnings results on Wednesday, November 6th. The technology company reported ($0.03) earnings per share for the quarter, topping the consensus estimate of ($0.04) by $0.01. The business had revenue of $175.02 million during the quarter, compared to the consensus estimate of $173.31 million. Q2 had a negative return on equity of 2.34% and a negative net margin of 8.40%. On average, sell-side analysts expect that Q2 will post -0.02 earnings per share for the current year.

Insiders Place Their Bets

In other news, CRO Michael A. Volanoski sold 1,428 shares of the firm’s stock in a transaction on Thursday, September 12th. The stock was sold at an average price of $71.93, for a total value of $102,716.04. Following the completion of the sale, 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In other Q2 news, EVP Jonathan Price sold 11,000 shares of the firm’s stock in a transaction on Friday, August 16th. The shares were sold at an average price of $71.64, for a total value of $788,040.00. Following the completion of the transaction, the executive vice president now owns 215,079 shares of the company’s stock, valued at approximately $15,408,259.56. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CRO Michael A. Volanoski sold 1,428 shares of the business’s stock in a transaction on Thursday, September 12th. The shares were sold at an average price of $71.93, for a total transaction of $102,716.04. Following the sale, the executive now directly owns 227,672 shares in the company, valued at $16,376,446.96. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 41,963 shares of company stock valued at $3,109,699. 3.00% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Q2

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. CWM LLC increased its holdings in shares of Q2 by 54.2% in the second quarter. CWM LLC now owns 481 shares of the technology company’s stock valued at $29,000 after purchasing an additional 169 shares during the period. International Assets Investment Management LLC increased its holdings in Q2 by 7,878.3% in the 3rd quarter. International Assets Investment Management LLC now owns 1,835 shares of the technology company’s stock worth $146,000 after buying an additional 1,812 shares during the period. Asset Management One Co. Ltd. raised its position in Q2 by 108.1% during the 3rd quarter. Asset Management One Co. Ltd. now owns 1,856 shares of the technology company’s stock worth $148,000 after buying an additional 964 shares during the last quarter. Quest Partners LLC purchased a new stake in shares of Q2 in the 2nd quarter valued at $153,000. Finally, Highland Capital Management LLC purchased a new stake in shares of Q2 in the 3rd quarter valued at $208,000.

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.