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

Key Points

• Royal Bank Of Canada has increased its price target for Q2 Holdings (NYSE:QTWO) from $101.00 to $102.00, indicating a potential upside of 24.44% from the current stock price.
• Other analysts have also raised their price targets, with Needham & Company rating Q2 as a "buy" and setting a target of $115.00.
• Despite the positive forecasts, Q2's stock experienced a significant drop, trading down 8.9% to $81.97 following the analysts' reports.

Q2 (NYSE:QTWO - Get Free Report) had its price target lifted by investment analysts at Royal Bank Of Canada from $101.00 to $102.00 in a report released 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 suggests a potential upside of 24.44% from the stock's current price.

Other equities research analysts also recently issued research reports about the stock. Needham & Company LLC upped their target price on shares of Q2 from $110.00 to $115.00 and gave the company a "buy" rating in a research note on Thursday. Robert W. Baird raised their target price on shares of Q2 from $84.00 to $90.00 and gave the company a "neutral" rating in a research report on Thursday, May 8th. Raymond James Financial lowered their price target on Q2 from $110.00 to $105.00 and set an "outperform" rating on the stock in a research report on Thursday, May 8th. Cantor Fitzgerald started coverage on shares of Q2 in a research report on Tuesday, June 3rd. They issued an "overweight" rating and a $110.00 price objective for the company. Finally, Stifel Nicolaus lifted their price objective on shares of Q2 from $105.00 to $110.00 and gave the company a "buy" rating in a research report on Thursday. Eight investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. Based on data from MarketBeat, Q2 has a consensus rating of "Moderate Buy" and an average target price of $101.06.

Q2 Trading Down 8.9%

Shares of NYSE:QTWO traded down $8.02 during trading on Thursday, hitting $81.97. 1,168,178 shares of the company's stock were exchanged, compared to its average volume of 663,412. Q2 has a 1-year low of $61.51 and a 1-year high of $112.82. The firm has a 50-day moving average price of $90.30 and a two-hundred day moving average price of $86.35. The company has a current ratio of 1.43, a quick ratio of 1.43 and a debt-to-equity ratio of 0.55. The firm has a market cap of $5.11 billion, a P/E ratio of -234.65 and a beta of 1.48.

Insider Activity

In other news, General Counsel Michael S. Kerr sold 397 shares of the business's stock in a transaction that occurred on Wednesday, May 14th. The shares were sold at an average price of $92.90, for a total value of $36,881.30. Following the completion of the transaction, the general counsel directly owned 58,441 shares in the company, valued at approximately $5,429,168.90. The trade was a 0.67% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director James Offerdahl sold 1,000 shares of Q2 stock in a transaction that occurred on Thursday, May 22nd. The shares were sold at an average price of $87.77, for a total transaction of $87,770.00. Following the sale, the director directly owned 16,241 shares in the company, valued at $1,425,472.57. This trade represents a 5.80% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 3,991 shares of company stock worth $357,153. 0.31% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Q2

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Commonwealth Equity Services LLC acquired a new position in shares of Q2 during the fourth quarter valued at about $733,000. LPL Financial LLC raised its holdings in shares of Q2 by 35.3% in the fourth quarter. LPL Financial LLC now owns 25,569 shares of the technology company's stock valued at $2,574,000 after purchasing an additional 6,666 shares during the last quarter. Norges Bank purchased a new stake in shares of Q2 in the fourth quarter valued at about $21,643,000. Pictet Asset Management Holding SA grew its position in Q2 by 25.4% during the fourth quarter. Pictet Asset Management Holding SA now owns 8,820 shares of the technology company's stock valued at $888,000 after buying an additional 1,789 shares during the period. Finally, O Shaughnessy Asset Management LLC grew its position in Q2 by 38.2% during the fourth quarter. O Shaughnessy Asset Management LLC now owns 7,169 shares of the technology company's stock valued at $722,000 after buying an additional 1,982 shares during the period.

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.

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