Q2 (NYSE:QTWO) PT Raised to $60.00

Q2 (NYSE:QTWO) had its price objective boosted by stock analysts at Royal Bank of Canada from $46.00 to $60.00 in a research report issued to clients and 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 target indicates a potential downside of 0.60% from the stock’s previous close.

A number of other research firms also recently commented on QTWO. Needham & Company LLC increased their target price on shares of Q2 from $58.00 to $65.00 and gave the company a “buy” rating in a research report on Thursday. Piper Sandler raised their price objective on shares of Q2 from $41.00 to $47.00 and gave the stock a “neutral” rating in a research report on Thursday, February 22nd. Stifel Nicolaus raised their price objective on shares of Q2 from $48.00 to $60.00 and gave the stock a “buy” rating in a research report on Wednesday, April 24th. Canaccord Genuity Group raised their price objective on shares of Q2 from $40.00 to $55.00 and gave the stock a “buy” rating in a research report on Friday, February 23rd. Finally, DA Davidson raised their price objective on shares of Q2 from $48.00 to $58.00 and gave the stock a “buy” rating in a research report on Tuesday, February 27th. Four research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $55.33.

Q2 Stock Up 1.3 %

Shares of NYSE QTWO traded up $0.78 during mid-day trading on Thursday, reaching $60.36. The company had a trading volume of 1,212,357 shares, compared to its average volume of 623,325. The company has a current ratio of 2.38, a quick ratio of 2.23 and a debt-to-equity ratio of 1.06. The firm has a 50 day simple moving average of $50.79 and a two-hundred day simple moving average of $43.14. The stock has a market cap of $3.63 billion, a P/E ratio of -44.71 and a beta of 1.47. Q2 has a 52-week low of $21.21 and a 52-week high of $60.98.

Q2 (NYSE:QTWO) last posted its earnings results on Wednesday, February 21st. The technology company reported ($0.06) EPS for the quarter, beating analysts’ consensus estimates of ($0.10) by $0.04. The firm had revenue of $162.12 million for the quarter, compared to the consensus estimate of $161.31 million. Q2 had a negative net margin of 12.35% and a negative return on equity of 5.88%. Sell-side analysts predict that Q2 will post -0.05 earnings per share for the current year.

Insider Activity at Q2

In related news, Director R. H. Seale sold 689 shares of the firm’s stock in a transaction dated Monday, March 11th. The shares were sold at an average price of $48.75, for a total value of $33,588.75. Following the completion of the sale, the director now owns 420,769 shares in the company, valued at $20,512,488.75. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, Director R. H. Seale sold 689 shares of the firm’s stock in a transaction dated Monday, March 11th. The shares were sold at an average price of $48.75, for a total value of $33,588.75. Following the completion of the sale, the director now owns 420,769 shares in the company, valued at $20,512,488.75. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Matthew P. Flake sold 45,000 shares of Q2 stock in a transaction dated Monday, February 5th. The stock was sold at an average price of $41.09, for a total transaction of $1,849,050.00. Following the transaction, the chief executive officer now owns 473,411 shares of the company’s stock, valued at approximately $19,452,457.99. The disclosure for this sale can be found here. Insiders sold 290,702 shares of company stock worth $13,014,042 over the last 90 days. Company insiders own 3.60% of the company’s stock.

Hedge Funds Weigh In On Q2

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Natixis Advisors L.P. grew its holdings in shares of Q2 by 1.6% during the fourth quarter. Natixis Advisors L.P. now owns 16,188 shares of the technology company’s stock worth $702,000 after buying an additional 259 shares in the last quarter. Contravisory Investment Management Inc. grew its holdings in shares of Q2 by 4.4% during the first quarter. Contravisory Investment Management Inc. now owns 7,164 shares of the technology company’s stock worth $377,000 after buying an additional 304 shares in the last quarter. Arizona State Retirement System grew its holdings in shares of Q2 by 2.2% during the third quarter. Arizona State Retirement System now owns 16,570 shares of the technology company’s stock worth $535,000 after buying an additional 352 shares in the last quarter. Diversified Trust Co grew its holdings in shares of Q2 by 2.7% during the fourth quarter. Diversified Trust Co now owns 13,670 shares of the technology company’s stock worth $593,000 after buying an additional 363 shares in the last quarter. Finally, MCF Advisors LLC grew its holdings in shares of Q2 by 156.5% during the fourth quarter. MCF Advisors LLC now owns 613 shares of the technology company’s stock worth $27,000 after buying an additional 374 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.