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

Q2 (NYSE:QTWO) had its price target increased by Royal Bank of Canada from $76.00 to $105.00 in a report released on Thursday,Benzinga reports. They currently have a sector perform rating on the technology company’s stock.

Several other research firms have also recently commented on QTWO. Truist Financial restated a “buy” rating and set a $100.00 target price (up from $78.00) on shares of Q2 in a research report on Thursday. Stifel Nicolaus raised their target price on shares of Q2 from $65.00 to $85.00 and gave the company a “buy” rating in a research note on Thursday, August 1st. Citigroup cut shares of Q2 from a “buy” rating to a “neutral” rating and boosted their price target for the stock from $72.00 to $90.00 in a research note on Friday, October 18th. BTIG Research raised their price objective on shares of Q2 from $75.00 to $82.00 and gave the company a “buy” rating in a research report on Monday, August 26th. Finally, DA Davidson reissued a “neutral” rating and issued a $76.00 target price on shares of Q2 in a research note on Monday, September 30th. Five analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $90.79.

Q2 Stock Performance

NYSE QTWO opened at $102.74 on Thursday. The company’s 50 day simple moving average is $80.37 and its two-hundred day simple moving average is $69.66. The stock has a market capitalization of $6.21 billion, a PE ratio of -107.02 and a beta of 1.58. The company has a debt-to-equity ratio of 0.99, a current ratio of 2.50 and a quick ratio of 2.44. Q2 has a 1 year low of $32.97 and a 1 year high of $105.00.

Insider Transactions at Q2

In other Q2 news, General Counsel Michael S. Kerr sold 517 shares of the stock in a transaction on Wednesday, September 11th. The shares were sold at an average price of $70.86, for a total transaction of $36,634.62. Following the completion of the sale, the general counsel now owns 61,130 shares of the company’s stock, valued at $4,331,671.80. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In other Q2 news, General Counsel Michael S. Kerr sold 517 shares of the stock in a transaction that occurred on Wednesday, September 11th. The stock was sold at an average price of $70.86, for a total value of $36,634.62. Following the completion of the sale, the general counsel now owns 61,130 shares in the company, valued at approximately $4,331,671.80. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director James Offerdahl sold 1,013 shares of the business’s stock in a transaction that occurred on Wednesday, August 28th. The shares were sold at an average price of $73.97, for a total value of $74,931.61. Following the transaction, the director now directly owns 18,789 shares in the company, valued at $1,389,822.33. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 41,963 shares of company stock worth $3,109,699. Insiders own 3.00% of the company’s stock.

Hedge Funds Weigh In On Q2

Hedge funds and other institutional investors have recently modified their holdings of the stock. CWM LLC boosted its position in Q2 by 54.2% during the 2nd quarter. CWM LLC now owns 481 shares of the technology company’s stock valued at $29,000 after acquiring an additional 169 shares in the last quarter. International Assets Investment Management LLC boosted its position in shares of Q2 by 7,878.3% during the third quarter. International Assets Investment Management LLC now owns 1,835 shares of the technology company’s stock valued at $146,000 after purchasing an additional 1,812 shares in the last quarter. Asset Management One Co. Ltd. grew its stake in Q2 by 108.1% in the third quarter. Asset Management One Co. Ltd. now owns 1,856 shares of the technology company’s stock worth $148,000 after purchasing an additional 964 shares during the period. Quest Partners LLC purchased a new stake in Q2 in the second quarter worth $153,000. Finally, SG Americas Securities LLC purchased a new position in Q2 during the first quarter valued at $173,000.

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.