Q2 (NYSE:QTWO) Price Target Raised to $108.00 at Royal Bank of Canada

Q2 (NYSE:QTWO) had its price target lifted by investment analysts at Royal Bank of Canada from $105.00 to $108.00 in a note issued to investors on Thursday,Benzinga reports. The brokerage currently has a “sector perform” rating on the technology company’s stock. Royal Bank of Canada’s price objective points to a potential upside of 16.13% from the company’s previous close.

Several other research firms have also weighed in on QTWO. Raymond James increased their target price on shares of Q2 from $100.00 to $110.00 and gave the stock an “outperform” rating in a report on Thursday. Stephens reiterated an “overweight” rating and set a $115.00 target price on shares of Q2 in a report on Thursday. Compass Point increased their price target on Q2 from $91.00 to $107.00 and gave the stock a “buy” rating in a report on Thursday, November 7th. Baird R W lowered Q2 from a “strong-buy” rating to a “hold” rating in a research report on Friday, January 10th. Finally, Needham & Company LLC boosted their price objective on Q2 from $120.00 to $125.00 and gave the company a “buy” rating in a research report on Thursday. Seven equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $102.13.

Q2 Trading Up 1.1 %

Shares of NYSE:QTWO traded up $0.98 during midday trading on Thursday, hitting $93.00. The company had a trading volume of 809,118 shares, compared to its average volume of 634,395. The firm has a fifty day simple moving average of $98.99 and a 200 day simple moving average of $88.08. The stock has a market cap of $5.62 billion, a price-to-earnings ratio of -96.88 and a beta of 1.61. The company has a current ratio of 2.50, a quick ratio of 2.50 and a debt-to-equity ratio of 0.99. Q2 has a 12 month low of $41.23 and a 12 month high of $112.82.

Q2 (NYSE:QTWO) last issued its earnings results on Wednesday, February 12th. The technology company reported $0.18 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.48 by ($0.30). Q2 had a negative return on equity of 2.30% and a negative net margin of 8.40%. On average, analysts predict that Q2 will post 0.08 EPS for the current year.

Insider Activity

In other news, Director James Offerdahl sold 548 shares of the stock in a transaction that occurred on Friday, November 22nd. The stock was sold at an average price of $104.95, for a total value of $57,512.60. Following the completion of the sale, the director now owns 18,241 shares of the company’s stock, valued at approximately $1,914,392.95. This represents a 2.92 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CRO Michael A. Volanoski sold 4,178 shares of the firm’s stock in a transaction on Tuesday, December 10th. The shares were sold at an average price of $106.00, for a total transaction of $442,868.00. Following the completion of the transaction, the executive now directly owns 223,494 shares of the company’s stock, valued at $23,690,364. This represents a 1.84 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 28,836 shares of company stock worth $3,061,035 in the last quarter. Corporate insiders own 3.00% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the company. William Blair Investment Management LLC bought a new stake in shares of Q2 in the 4th quarter valued at about $202,645,000. Massachusetts Financial Services Co. MA increased its position in Q2 by 107.9% during the fourth quarter. Massachusetts Financial Services Co. MA now owns 1,345,741 shares of the technology company’s stock worth $135,449,000 after buying an additional 698,464 shares during the last quarter. Arrowstreet Capital Limited Partnership raised its stake in Q2 by 732.2% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 745,404 shares of the technology company’s stock valued at $75,025,000 after buying an additional 655,838 shares during the period. Franklin Resources Inc. lifted its position in shares of Q2 by 893.5% in the fourth quarter. Franklin Resources Inc. now owns 471,523 shares of the technology company’s stock valued at $47,459,000 after buying an additional 424,062 shares during the last quarter. Finally, Venturi Wealth Management LLC boosted its stake in shares of Q2 by 139.5% during the 3rd quarter. Venturi Wealth Management LLC now owns 608,721 shares of the technology company’s stock worth $48,558,000 after acquiring 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.