Q2 (NYSE:QTWO) Hits New 12-Month High – What’s Next?

Q2 Holdings, Inc. (NYSE:QTWO) shares hit a new 52-week high on Monday . The stock traded as high as $84.84 and last traded at $84.28, with a volume of 124080 shares. The stock had previously closed at $83.36.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on QTWO. Needham & Company LLC restated an “underperform” rating on shares of Q2 in a research report on Friday, October 18th. Royal Bank of Canada reiterated a “sector perform” rating on shares of Q2 in a report on Friday, October 18th. BTIG Research boosted their target price on shares of Q2 from $75.00 to $82.00 and gave the stock a “buy” rating in a research report on Monday, August 26th. The Goldman Sachs Group lifted their price target on shares of Q2 from $59.00 to $86.00 and gave the company a “buy” rating in a report on Thursday, August 1st. Finally, DA Davidson reissued a “neutral” rating and set a $76.00 target price on shares of Q2 in a research note on Monday, September 30th. One analyst has rated the stock with a sell rating, five have issued a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $73.64.

Q2 Price Performance

The business’s fifty day moving average is $77.30 and its 200 day moving average is $67.01. The company has a current ratio of 2.44, a quick ratio of 2.44 and a debt-to-equity ratio of 1.02. The firm has a market capitalization of $5.09 billion, a P/E ratio of -73.10 and a beta of 1.59.

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

Insiders Place Their Bets

In related news, CRO Michael A. Volanoski sold 1,428 shares of the company’s stock in a transaction on Thursday, September 12th. The shares were sold at an average price of $71.93, for a total transaction of $102,716.04. Following the completion of the transaction, the executive now directly owns 227,672 shares in the company, valued at $16,376,446.96. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In related news, General Counsel Michael S. Kerr sold 517 shares of the stock in a transaction dated 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 in the company, valued at $4,331,671.80. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. 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 directly owns 227,672 shares in the company, valued at approximately $16,376,446.96. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 41,963 shares of company stock valued at $3,109,699 over the last ninety days. Corporate insiders own 3.00% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of the business. CWM LLC boosted its stake in Q2 by 54.2% during the 2nd quarter. CWM LLC now owns 481 shares of the technology company’s stock worth $29,000 after acquiring an additional 169 shares during the last quarter. Natixis Advisors LLC boosted its position in Q2 by 1.4% during the second quarter. Natixis Advisors LLC now owns 16,691 shares of the technology company’s stock worth $1,007,000 after purchasing an additional 237 shares during the period. Panagora Asset Management Inc. boosted its position in Q2 by 3.1% during the second quarter. Panagora Asset Management Inc. now owns 13,659 shares of the technology company’s stock worth $824,000 after purchasing an additional 407 shares during the period. Arizona State Retirement System boosted its position in shares of Q2 by 2.6% in the second quarter. Arizona State Retirement System now owns 16,537 shares of the technology company’s stock valued at $998,000 after acquiring an additional 423 shares during the period. Finally, RiverPark Advisors LLC raised its stake in Q2 by 9.6% in the second quarter. RiverPark Advisors LLC now owns 6,737 shares of the technology company’s stock valued at $406,000 after purchasing an additional 591 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.