Royal Bank of Canada Raises Q2 (NYSE:QTWO) Price Target to $60.00

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

A number of other equities research analysts have also issued reports on QTWO. Piper Sandler upped their price target on Q2 from $41.00 to $47.00 and gave the company a neutral rating in a research report on Thursday, February 22nd. Truist Financial reiterated a buy rating and set a $65.00 price target (up previously from $60.00) on shares of Q2 in a report on Thursday. The Goldman Sachs Group raised their price objective on shares of Q2 from $39.00 to $51.00 and gave the stock a buy rating in a research report on Tuesday, January 23rd. DA Davidson boosted their target price on shares of Q2 from $48.00 to $58.00 and gave the company a buy rating in a report on Tuesday, February 27th. Finally, Robert W. Baird upped their price objective on Q2 from $60.00 to $65.00 and gave the company an outperform rating in a report on Thursday. Four investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of Moderate Buy and an average price target of $55.33.

Q2 Price Performance

Shares of NYSE QTWO opened at $60.36 on Thursday. The company has a debt-to-equity ratio of 1.06, a quick ratio of 2.23 and a current ratio of 2.38. The firm has a market cap of $3.63 billion, a PE ratio of -44.71 and a beta of 1.47. Q2 has a one year low of $21.21 and a one year high of $60.98. The firm has a fifty day moving average of $50.79 and a 200 day moving average of $43.21.

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

Insider Buying and Selling at Q2

In other news, CRO Michael A. Volanoski sold 2,369 shares of the stock in a transaction dated Wednesday, March 13th. The shares were sold at an average price of $50.10, for a total transaction of $118,686.90. Following the sale, the executive now owns 174,024 shares of the company’s stock, valued at $8,718,602.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, CRO Michael A. Volanoski sold 2,369 shares of the company’s stock in a transaction that occurred on Wednesday, March 13th. The shares were sold at an average price of $50.10, for a total transaction of $118,686.90. Following the sale, the executive now directly owns 174,024 shares of the company’s stock, valued at approximately $8,718,602.40. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Matthew P. Flake sold 45,000 shares of Q2 stock in a transaction on Wednesday, February 7th. The shares were sold at an average price of $41.76, for a total value of $1,879,200.00. Following the completion of the transaction, the chief executive officer now owns 473,411 shares of the company’s stock, valued at $19,769,643.36. The disclosure for this sale can be found here. Insiders sold a total of 290,702 shares of company stock valued at $13,014,042 in the last three months. 3.60% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

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

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.