Q2 (NYSE:QTWO) Given New $60.00 Price Target at Royal Bank of Canada

Q2 (NYSE:QTWO) had its price objective raised by Royal Bank of Canada from $46.00 to $60.00 in a research report sent to investors on Thursday morning, Benzinga reports. Royal Bank of Canada currently has a sector perform rating on the technology company’s stock.

Several other research analysts have also commented on the company. DA Davidson lifted their target price on Q2 from $48.00 to $58.00 and gave the stock a buy rating in a research report on Tuesday, February 27th. Piper Sandler boosted their price objective on Q2 from $41.00 to $47.00 and gave the company a neutral rating in a research report on Thursday, February 22nd. Robert W. Baird boosted their price objective on Q2 from $60.00 to $65.00 and gave the company an outperform rating in a research report on Thursday. Stifel Nicolaus lifted their target price on Q2 from $48.00 to $60.00 and gave the company a buy rating in a research note on Wednesday, April 24th. Finally, Needham & Company LLC boosted their price objective on Q2 from $58.00 to $65.00 and gave the stock a buy rating in a research note on Thursday. Four equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. Based on data from MarketBeat, Q2 presently has a consensus rating of Moderate Buy and an average target price of $55.33.

Q2 Stock Up 0.4 %

Shares of NYSE:QTWO traded up $0.25 during mid-day trading on Thursday, hitting $60.61. 358,076 shares of the company traded hands, compared to its average volume of 636,071. The firm has a market cap of $3.64 billion, a P/E ratio of -44.71 and a beta of 1.47. The company has a debt-to-equity ratio of 1.06, a quick ratio of 2.38 and a current ratio of 2.38. Q2 has a 52-week low of $21.94 and a 52-week high of $61.84. The firm’s 50 day simple moving average is $50.79 and its 200 day simple moving average is $43.29.

Q2 (NYSE:QTWO) last issued its quarterly earnings data on Wednesday, February 21st. The technology company reported ($0.06) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.10) by $0.04. Q2 had a negative return on equity of 5.88% and a negative net margin of 12.35%. The firm had revenue of $162.12 million during the quarter, compared to analyst estimates of $161.31 million. On average, equities analysts anticipate that Q2 will post -0.02 EPS for the current year.

Insider Activity

In other Q2 news, CEO Matthew P. Flake sold 45,000 shares of the business’s stock in a transaction dated Wednesday, February 7th. The stock was sold at an average price of $41.76, for a total value of $1,879,200.00. Following the transaction, the chief executive officer now owns 473,411 shares in the company, valued at $19,769,643.36. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Q2 news, CEO Matthew P. Flake sold 33,767 shares of the business’s stock in a transaction dated Friday, February 9th. The stock was sold at an average price of $42.93, for a total value of $1,449,617.31. Following the completion of the sale, the chief executive officer now owns 473,411 shares of the company’s stock, valued at $20,323,534.23. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Matthew P. Flake sold 45,000 shares of the business’s stock in a transaction dated Wednesday, February 7th. The stock was sold at an average price of $41.76, for a total value of $1,879,200.00. Following the completion of the sale, the chief executive officer now directly owns 473,411 shares of the company’s stock, valued at approximately $19,769,643.36. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 245,702 shares of company stock worth $11,164,992. 3.60% of the stock is owned by corporate insiders.

Institutional Trading of Q2

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Vanguard Group Inc. lifted its position in shares of Q2 by 7.5% during the 3rd quarter. Vanguard Group Inc. now owns 6,952,848 shares of the technology company’s stock worth $224,368,000 after purchasing an additional 487,111 shares during the last quarter. Wasatch Advisors LP raised its holdings in Q2 by 10.8% in the 1st quarter. Wasatch Advisors LP now owns 4,078,877 shares of the technology company’s stock valued at $214,386,000 after acquiring an additional 398,871 shares in the last quarter. Conestoga Capital Advisors LLC raised its holdings in Q2 by 0.7% in the 1st quarter. Conestoga Capital Advisors LLC now owns 2,218,924 shares of the technology company’s stock valued at $116,627,000 after acquiring an additional 15,510 shares in the last quarter. North Reef Capital Management LP raised its holdings in Q2 by 21.2% in the 3rd quarter. North Reef Capital Management LP now owns 2,070,000 shares of the technology company’s stock valued at $66,799,000 after acquiring an additional 362,227 shares in the last quarter. Finally, Jennison Associates LLC raised its holdings in Q2 by 14.6% in the 1st quarter. Jennison Associates LLC now owns 1,852,407 shares of the technology company’s stock valued at $97,363,000 after acquiring an additional 235,582 shares in 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.