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

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

Several other research firms have also issued reports on QTWO. Canaccord Genuity Group raised their target price on shares of Q2 from $40.00 to $55.00 and gave the stock a buy rating in a report on Friday, February 23rd. Piper Sandler lifted their price objective on shares of Q2 from $41.00 to $47.00 and gave the company a neutral rating in a report on Thursday, February 22nd. DA Davidson lifted their price objective on shares of Q2 from $48.00 to $58.00 and gave the company a buy rating in a report on Tuesday, February 27th. The Goldman Sachs Group lifted their price objective on shares of Q2 from $39.00 to $51.00 and gave the company a buy rating in a report on Tuesday, January 23rd. Finally, Truist Financial reiterated a buy rating and set a $65.00 price objective (up previously from $60.00) on shares of Q2 in a report on Thursday. Four equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of Moderate Buy and a consensus target price of $55.33.

Q2 Price Performance

QTWO traded up $0.25 during trading on Thursday, hitting $60.61. 358,076 shares of the company traded hands, compared to its average volume of 636,071. The company has a market cap of $3.64 billion, a PE ratio of -44.71 and a beta of 1.47. The stock’s 50-day simple moving average is $50.79 and its two-hundred day simple moving average is $43.29. Q2 has a 1 year low of $21.94 and a 1 year high of $61.84. The company has a current ratio of 2.38, a quick ratio of 2.38 and a debt-to-equity ratio of 1.06.

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

Insider Transactions at Q2

In related news, CEO Matthew P. Flake sold 33,767 shares of Q2 stock in a transaction that occurred on Friday, February 9th. The shares were 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 directly owns 473,411 shares in the company, valued at approximately $20,323,534.23. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, CEO Matthew P. Flake sold 33,767 shares of Q2 stock in a transaction that occurred on Friday, February 9th. The shares were 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 directly owns 473,411 shares in the company, valued at approximately $20,323,534.23. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director R. H. Seale sold 689 shares of Q2 stock in a transaction that occurred on Monday, March 11th. The shares were sold at an average price of $48.75, for a total transaction of $33,588.75. Following the sale, the director now owns 420,769 shares of the company’s stock, valued at $20,512,488.75. The disclosure for this sale can be found here. Insiders have sold a total of 245,702 shares of company stock valued at $11,164,992 in the last 90 days. Insiders own 3.60% of the company’s stock.

Institutional Trading of Q2

Institutional investors and hedge funds have recently bought and sold shares of the business. MCF Advisors LLC lifted its stake in shares of Q2 by 156.5% in the 4th quarter. MCF Advisors LLC now owns 613 shares of the technology company’s stock valued at $27,000 after purchasing an additional 374 shares during the period. International Assets Investment Management LLC lifted its stake in shares of Q2 by 2,582.4% in the 4th quarter. International Assets Investment Management LLC now owns 912 shares of the technology company’s stock valued at $40,000 after purchasing an additional 878 shares during the period. Arcadia Investment Management Corp MI lifted its stake in shares of Q2 by 193.7% in the 4th quarter. Arcadia Investment Management Corp MI now owns 1,119 shares of the technology company’s stock valued at $49,000 after purchasing an additional 738 shares during the period. Fidelis Capital Partners LLC acquired a new position in shares of Q2 in the 1st quarter valued at $50,000. Finally, RiverPark Advisors LLC lifted its stake in shares of Q2 by 261.0% in the 4th quarter. RiverPark Advisors LLC now owns 1,332 shares of the technology company’s stock valued at $58,000 after purchasing an additional 963 shares during the period.

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.