Q2 (NYSE:QTWO) Hits New 52-Week High – Here’s Why

Shares of Q2 Holdings, Inc. (NYSE:QTWO) reached 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. The stock had previously closed at $82.31.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on QTWO shares. Truist Financial restated a “buy” rating and issued a $78.00 target price (up previously from $68.00) on shares of Q2 in a report on Thursday, August 1st. DA Davidson reaffirmed a “neutral” rating and set a $76.00 price objective on shares of Q2 in a report on Monday, September 30th. Citigroup cut Q2 from a “buy” rating to a “neutral” rating and upped their target price for the company from $72.00 to $90.00 in a research report on Friday, October 18th. Compass Point started coverage on Q2 in a research note on Wednesday, September 4th. They issued a “buy” rating and a $91.00 price objective for the company. Finally, Royal Bank of Canada reaffirmed a “sector perform” rating on shares of Q2 in a report on Friday. One analyst has rated the stock with a sell rating, five have assigned a hold rating and eight have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $73.64.

Q2 Stock Down 0.6 %

The firm has a fifty day moving average price of $76.61 and a 200 day moving average price of $66.37. The firm has a market capitalization of $5.00 billion, a price-to-earnings ratio of -71.51 and a beta of 1.59. The company has a debt-to-equity ratio of 1.02, a quick ratio of 2.44 and a current ratio of 2.44.

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

Insider Buying and Selling

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 value of $36,634.62. Following the sale, the general counsel now directly owns 61,130 shares of the company’s stock, valued at approximately $4,331,671.80. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, General Counsel Michael S. Kerr sold 517 shares of the business’s stock in a transaction 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 transaction, the general counsel now directly owns 61,130 shares of the company’s stock, valued at $4,331,671.80. 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 the SEC website. Also, Director Jeffrey T. Diehl sold 28,005 shares of the stock in a transaction on Monday, August 26th. The shares were sold at an average price of $75.25, for a total value of $2,107,376.25. Following the sale, the director now directly owns 397,702 shares in the company, valued at approximately $29,927,075.50. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 41,963 shares of company stock worth $3,109,699 in the last quarter. Company insiders own 3.00% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in the business. Nordea Investment Management AB boosted its stake in Q2 by 45.2% in the 1st quarter. Nordea Investment Management AB now owns 64,826 shares of the technology company’s stock worth $3,456,000 after buying an additional 20,195 shares during the last quarter. Jennison Associates LLC lifted its stake in shares of Q2 by 14.6% in the 1st quarter. Jennison Associates LLC now owns 1,852,407 shares of the technology company’s stock valued at $97,363,000 after purchasing an additional 235,582 shares in the last quarter. DekaBank Deutsche Girozentrale increased its position in Q2 by 67.4% during the 1st quarter. DekaBank Deutsche Girozentrale now owns 55,617 shares of the technology company’s stock worth $2,908,000 after purchasing an additional 22,400 shares in the last quarter. Perpetual Ltd purchased a new position in Q2 in the third quarter valued at approximately $80,788,000. Finally, Oppenheimer & Co. Inc. acquired a new position in Q2 during the first quarter valued at approximately $1,055,000.

Q2 Company Profile

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.