Q2 (NYSE:QTWO) Hits New 1-Year High – Here’s Why

by · The Markets Daily

Q2 Holdings, Inc. (NYSE:QTWO – Get Free Report) hit a new 52-week high on Monday . The company traded as high as $83.53 and last traded at $83.41, with a volume of 48108 shares changing hands. The stock had previously closed at $82.31.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on QTWO. Truist Financial restated a “buy” rating and set a $78.00 price objective (up previously from $68.00) on shares of Q2 in a research report on Thursday, August 1st. Citigroup cut shares of Q2 from a “buy” rating to a “neutral” rating and raised their target price for the stock from $72.00 to $90.00 in a report on Friday. Compass Point initiated coverage on Q2 in a report on Wednesday, September 4th. They issued a “buy” rating and a $91.00 price target on the stock. BTIG Research raised their price objective on Q2 from $75.00 to $82.00 and gave the stock a “buy” rating in a research note on Monday, August 26th. Finally, Stifel Nicolaus lifted their price target on Q2 from $65.00 to $85.00 and gave the stock a “buy” rating in a research note on Thursday, August 1st. One investment analyst has rated the stock with a sell rating, five have given a hold rating and eight have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Q2 currently has a consensus rating of “Moderate Buy” and an average target price of $73.64.

View Our Latest Stock Report on Q2

Q2 Trading Up 1.6 %

The business has a 50-day moving average of $76.02 and a two-hundred day moving average of $65.93. The company has a quick ratio of 2.44, a current ratio of 2.44 and a debt-to-equity ratio of 1.02. The firm has a market capitalization of $5.03 billion, a price-to-earnings ratio of -60.97 and a beta of 1.59.

Q2 (NYSE:QTWO – Get Free Report) last released its quarterly earnings data on Wednesday, July 31st. The technology company reported ($0.06) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.03) by ($0.03). The firm had revenue of $172.89 million for the quarter, compared to the consensus estimate of $170.67 million. Q2 had a negative net margin of 10.40% and a negative return on equity of 3.95%. Research analysts predict that Q2 Holdings, Inc. will post -0.01 EPS for the current fiscal year.

Insider Activity

In related news, CRO Michael A. Volanoski sold 1,428 shares of the company’s stock in a transaction dated Thursday, September 12th. The shares were sold at an average price of $71.93, for a total value of $102,716.04. Following the sale, the executive now owns 227,672 shares of the company’s stock, valued at $16,376,446.96. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other Q2 news, General Counsel Michael S. Kerr sold 517 shares of Q2 stock in a transaction on Wednesday, September 11th. The stock was sold at an average price of $70.86, for a total transaction of $36,634.62. Following the completion of the transaction, the general counsel now directly owns 61,130 shares of the company’s stock, valued at approximately $4,331,671.80. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CRO Michael A. Volanoski sold 1,428 shares of the stock in a transaction dated Thursday, September 12th. The stock was sold at an average price of $71.93, for a total transaction of $102,716.04. Following the sale, the executive now owns 227,672 shares of the company’s stock, valued at $16,376,446.96. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 41,963 shares of company stock worth $3,109,699. 3.60% of the stock is currently owned by corporate insiders.

Institutional Trading of Q2

Several large investors have recently added to or reduced their stakes in QTWO. Raymond James & Associates boosted its holdings in shares of Q2 by 17.9% in the 3rd quarter. Raymond James & Associates now owns 128,654 shares of the technology company’s stock worth $10,263,000 after acquiring an additional 19,495 shares in the last quarter. nVerses Capital LLC raised its position in Q2 by 26.7% in the 3rd quarter. nVerses Capital LLC now owns 3,800 shares of the technology company’s stock valued at $303,000 after purchasing an additional 800 shares during the last quarter. Creative Planning boosted its stake in Q2 by 62.5% in the third quarter. Creative Planning now owns 19,834 shares of the technology company’s stock worth $1,582,000 after purchasing an additional 7,631 shares in the last quarter. Perpetual Ltd bought a new stake in shares of Q2 during the third quarter worth $80,788,000. Finally, CWM LLC increased its stake in shares of Q2 by 199.8% in the third quarter. CWM LLC now owns 1,442 shares of the technology company’s stock valued at $115,000 after buying an additional 961 shares in the last quarter.

About Q2

(Get Free Report)

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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