Q2 (NYSE:QTWO - Get Free Report) was downgraded by analysts at Citigroup from a "buy" rating to a "neutral" rating in a research note issued on Friday, Briefing.com reports. They presently have a $90.00 target price on the technology company's stock, up from their prior target price of $72.00. Citigroup's price target suggests a potential upside of 9.52% from the company's current price.
Several other brokerages have also recently weighed in on QTWO. Truist Financial reaffirmed a "buy" rating and issued a $78.00 price target (up from $68.00) on shares of Q2 in a research note on Thursday, August 1st. Compass Point initiated coverage on shares of Q2 in a research report on Wednesday, September 4th. They set a "buy" rating and a $91.00 price target for the company. DA Davidson reissued a "neutral" rating and set a $76.00 price objective on shares of Q2 in a research note on Monday, September 30th. 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. Finally, Royal Bank of Canada boosted their price target on Q2 from $60.00 to $76.00 and gave the stock a "sector perform" rating in a research report on Thursday, August 1st. Five investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $73.64.
View Our Latest Research Report on Q2
Shares of NYSE QTWO opened at $82.18 on Friday. The firm has a fifty day simple moving average of $75.74 and a two-hundred day simple moving average of $65.51. The firm has a market capitalization of $4.95 billion, a PE ratio of -70.84 and a beta of 1.59. The company has a current ratio of 2.44, a quick ratio of 2.44 and a debt-to-equity ratio of 1.02. Q2 has a 12 month low of $28.91 and a 12 month high of $82.73.
Q2 (NYSE:QTWO - Get Free Report) last released its quarterly earnings results 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 company had revenue of $172.89 million during the quarter, compared to the consensus estimate of $170.67 million. Q2 had a negative return on equity of 3.95% and a negative net margin of 10.40%. Equities analysts expect that Q2 will post -0.01 earnings per share for the current year.
In related news, EVP Jonathan Price sold 11,000 shares of the company's stock in a transaction on Friday, August 16th. The shares were sold at an average price of $71.64, for a total value of $788,040.00. Following the completion of the transaction, the executive vice president now owns 215,079 shares of the company's stock, valued at approximately $15,408,259.56. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. In other Q2 news, EVP Jonathan Price sold 11,000 shares of the company's stock in a transaction that occurred on Friday, August 16th. The stock was sold at an average price of $71.64, for a total value of $788,040.00. Following the completion of the transaction, the executive vice president now directly owns 215,079 shares in the company, valued at $15,408,259.56. This represents a 0.00 % decrease in their position. The transaction 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 business's stock in a transaction on Thursday, September 12th. The stock was 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 trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 41,963 shares of company stock valued at $3,109,699 over the last 90 days. 3.00% of the stock is currently owned by corporate insiders.
Several institutional investors and hedge funds have recently made changes to their positions in the business. Wasatch Advisors LP increased its position in shares of Q2 by 10.8% during the first quarter. Wasatch Advisors LP now owns 4,078,877 shares of the technology company's stock worth $214,386,000 after acquiring an additional 398,871 shares during the period. Brown Capital Management LLC grew its position in shares of Q2 by 0.4% during the 1st quarter. Brown Capital Management LLC now owns 2,565,647 shares of the technology company's stock worth $134,850,000 after buying an additional 11,000 shares in the last quarter. Conestoga Capital Advisors LLC increased its stake in shares of Q2 by 2.5% during the second quarter. Conestoga Capital Advisors LLC now owns 2,273,894 shares of the technology company's stock valued at $137,184,000 after buying an additional 54,970 shares during the period. Jennison Associates LLC raised its holdings in shares of Q2 by 14.6% in the first quarter. Jennison Associates LLC now owns 1,852,407 shares of the technology company's stock valued at $97,363,000 after acquiring an additional 235,582 shares in the last quarter. Finally, Hood River Capital Management LLC lifted its stake in Q2 by 5.7% in the second quarter. Hood River Capital Management LLC now owns 1,261,924 shares of the technology company's stock worth $76,132,000 after acquiring an additional 67,757 shares during the period.
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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