Q2 (NYSE:QTWO) Price Target Raised to $94.00 at Royal Bank of Canada

Q2 (NYSE:QTWO) had its target price lifted by equities researchers at Royal Bank of Canada from $79.00 to $94.00 in a research report issued on Thursday, The Fly reports. The brokerage presently has an “outperform” rating on the technology company’s stock. Royal Bank of Canada’s price target would indicate a potential upside of 7.97% from the stock’s current price.

QTWO has been the topic of several other research reports. Zacks Investment Research lowered shares of Q2 from a “hold” rating to a “sell” rating in a report on Wednesday, July 10th. Stifel Nicolaus boosted their target price on shares of Q2 from $74.00 to $82.00 and gave the company a “buy” rating in a report on Thursday. JPMorgan Chase & Co. boosted their target price on shares of Q2 from $78.00 to $90.00 and gave the company an “overweight” rating in a report on Thursday. Wells Fargo & Co upped their price objective on shares of Q2 from $75.00 to $80.00 and gave the company an “outperform” rating in a report on Thursday, May 9th. Finally, Craig Hallum reiterated a “buy” rating and set a $85.00 price objective (up previously from $80.00) on shares of Q2 in a report on Thursday, May 9th. Two research analysts have rated the stock with a sell rating, three have assigned a hold rating and eleven have given a buy rating to the company. The stock presently has an average rating of “Buy” and a consensus target price of $78.17.

QTWO stock opened at $87.06 on Thursday. The firm has a market capitalization of $3.85 billion, a price-to-earnings ratio of -235.30 and a beta of 1.38. The company has a current ratio of 2.08, a quick ratio of 2.08 and a debt-to-equity ratio of 1.40. Q2 has a 12-month low of $43.41 and a 12-month high of $89.39. The firm has a fifty day moving average price of $78.66.

Q2 (NYSE:QTWO) last released its earnings results on Wednesday, August 7th. The technology company reported ($0.20) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.21) by $0.01. The business had revenue of $77.60 million for the quarter, compared to analyst estimates of $76.10 million. Q2 had a negative net margin of 20.73% and a negative return on equity of 18.28%. Q2’s revenue for the quarter was up 32.0% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.01 earnings per share. Equities analysts anticipate that Q2 will post -0.65 earnings per share for the current year.

In other news, CFO Jennifer Noel Harris sold 15,000 shares of the business’s stock in a transaction dated Monday, June 10th. The shares were sold at an average price of $70.22, for a total transaction of $1,053,300.00. Following the completion of the sale, the chief financial officer now directly owns 129,865 shares of the company’s stock, valued at $9,119,120.30. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director James Offerdahl sold 2,000 shares of the business’s stock in a transaction dated Wednesday, May 22nd. The stock was sold at an average price of $73.40, for a total transaction of $146,800.00. Following the sale, the director now directly owns 6,433 shares of the company’s stock, valued at $472,182.20. The disclosure for this sale can be found here. Insiders have sold 480,537 shares of company stock worth $35,941,718 in the last quarter. Company insiders own 12.80% of the company’s stock.

Several large investors have recently bought and sold shares of the company. Valeo Financial Advisors LLC grew its position in Q2 by 67.4% in the 2nd quarter. Valeo Financial Advisors LLC now owns 385 shares of the technology company’s stock worth $29,000 after purchasing an additional 155 shares in the last quarter. Tortoise Index Solutions LLC bought a new stake in Q2 in the 1st quarter worth about $39,000. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. bought a new stake in Q2 in the 2nd quarter worth about $42,000. Pearl River Capital LLC bought a new stake in Q2 in the 1st quarter worth about $76,000. Finally, Marshall Wace North America L.P. grew its position in Q2 by 82.2% in the 1st quarter. Marshall Wace North America L.P. now owns 1,800 shares of the technology company’s stock worth $125,000 after purchasing an additional 812 shares in the last quarter. 98.83% of the stock is owned by institutional investors.

About Q2

Q2 Holdings, Inc provides cloud-based digital banking solutions to regional and community financial institutions (RCFIs) in the United States. It offers Q2 Digital Banking and Transactions, a browser-based digital banking solution that delivers RCFI-branded digital banking capabilities; Q2mobility App, a mobile and tablet digital banking solution; Q2mobile Remote Deposit Capture, a partnered solution that allows remote check deposit capture; and Q2 Person-to-Person Payments, a partnered secure and integrated person-to-person payments solution.

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