Royal Bank of Canada Issues Positive Forecast for Q2 (NYSE:QTWO) Stock Price

Q2 (NYSE:QTWO) had its price objective lifted by Royal Bank of Canada from $105.00 to $108.00 in a report released on Thursday,Benzinga reports. They currently have a sector perform rating on the technology company’s stock.

Other equities research analysts have also recently issued research reports about the company. KeyCorp upgraded Q2 from a “sector weight” rating to an “overweight” rating and set a $126.00 price objective on the stock in a research note on Wednesday, December 18th. Truist Financial reiterated a “buy” rating and issued a $110.00 price target (up previously from $100.00) on shares of Q2 in a research note on Thursday. Needham & Company LLC lifted their price objective on shares of Q2 from $120.00 to $125.00 and gave the company a “buy” rating in a research report on Thursday. DA Davidson upped their target price on shares of Q2 from $76.00 to $86.00 and gave the company a “neutral” rating in a report on Monday, November 11th. Finally, Robert W. Baird reiterated a “neutral” rating and issued a $99.00 target price (up from $89.00) on shares of Q2 in a research note on Friday, January 10th. Seven research analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $102.13.

Q2 Stock Performance

Q2 stock opened at $92.82 on Thursday. The company has a quick ratio of 2.50, a current ratio of 2.50 and a debt-to-equity ratio of 0.99. Q2 has a 1-year low of $41.23 and a 1-year high of $112.82. The company has a fifty day simple moving average of $98.99 and a 200 day simple moving average of $88.08.

Q2 (NYSE:QTWO) last released 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 net margin of 8.40% and a negative return on equity of 2.30%. Sell-side analysts expect that Q2 will post 0.08 EPS for the current fiscal year.

Insider Activity

In other Q2 news, Director James Offerdahl sold 548 shares of the business’s stock in a transaction dated Friday, November 22nd. The shares were 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 $1,914,392.95. The trade was a 2.92 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, President Kirk L. Coleman sold 10,428 shares of the stock in a transaction that occurred on Thursday, December 12th. The stock was sold at an average price of $106.42, for a total transaction of $1,109,747.76. Following the transaction, the president now owns 337,643 shares in the company, valued at approximately $35,931,968.06. The trade was a 3.00 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 28,836 shares of company stock valued at $3,061,035. 3.00% of the stock is owned by insiders.

Institutional Investors Weigh In On Q2

Institutional investors have recently made changes to their positions in the stock. Versor Investments LP bought a new position in Q2 during the 3rd quarter worth $590,000. State Street Corp grew its holdings in shares of Q2 by 0.3% during the 3rd quarter. State Street Corp now owns 1,668,767 shares of the technology company’s stock worth $133,118,000 after purchasing an additional 5,000 shares in the last quarter. BNP Paribas Financial Markets increased its position in shares of Q2 by 32.2% in the third quarter. BNP Paribas Financial Markets now owns 30,720 shares of the technology company’s stock worth $2,451,000 after purchasing an additional 7,475 shares during the period. Nordea Investment Management AB raised its stake in Q2 by 61.8% in the fourth quarter. Nordea Investment Management AB now owns 111,110 shares of the technology company’s stock valued at $11,208,000 after purchasing an additional 42,433 shares in the last quarter. Finally, Intech Investment Management LLC bought a new stake in Q2 during the third quarter worth about $1,227,000.

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.