Q2 (QTWO) Issues Quarterly Earnings Results

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Q2 (NYSE:QTWO) announced its quarterly earnings data on Tuesday. The technology company reported ($0.08) earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.16) by $0.08, Morningstar.com reports. The business had revenue of $60.50 million during the quarter, compared to the consensus estimate of $60.18 million. Q2 had a negative net margin of 12.07% and a negative return on equity of 14.66%. The firm’s quarterly revenue was up 20.8% compared to the same quarter last year. During the same quarter last year, the firm earned $0.03 earnings per share.

Shares of Q2 stock traded up $1.76 on Wednesday, hitting $53.74. 949,100 shares of the company traded hands, compared to its average volume of 351,660. The company has a debt-to-equity ratio of 1.12, a quick ratio of 6.00 and a current ratio of 6.00. Q2 has a 52 week low of $36.25 and a 52 week high of $67.10. The company has a market capitalization of $2.28 billion, a PE ratio of -111.96 and a beta of 1.49.

In related news, insider William M. Furrer sold 10,062 shares of Q2 stock in a transaction that occurred on Tuesday, October 2nd. The shares were sold at an average price of $56.58, for a total transaction of $569,307.96. Following the transaction, the insider now directly owns 79,686 shares of the company’s stock, valued at $4,508,633.88. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, SVP Barry G. Benton sold 5,541 shares of Q2 stock in a transaction that occurred on Wednesday, September 12th. The shares were sold at an average price of $65.73, for a total transaction of $364,209.93. Following the transaction, the senior vice president now directly owns 38,140 shares in the company, valued at $2,506,942.20. The disclosure for this sale can be found here. Insiders have sold 1,472,477 shares of company stock valued at $86,758,418 in the last ninety days. Insiders own 17.90% of the company’s stock.

A number of hedge funds have recently modified their holdings of the stock. SG Americas Securities LLC purchased a new position in Q2 in the second quarter worth $132,000. Dynamic Technology Lab Private Ltd purchased a new position in Q2 in the second quarter worth $200,000. Brick & Kyle Associates purchased a new position in Q2 in the second quarter worth $228,000. Trexquant Investment LP purchased a new position in Q2 in the second quarter worth $267,000. Finally, Public Employees Retirement Association of Colorado purchased a new position in Q2 in the third quarter worth $285,000. 93.17% of the stock is currently owned by institutional investors.

Several analysts have issued reports on the stock. Stifel Nicolaus reissued a “buy” rating and issued a $68.00 price objective on shares of Q2 in a research note on Thursday, August 9th. Zacks Investment Research downgraded shares of Q2 from a “hold” rating to a “sell” rating in a research note on Friday, November 2nd. Loop Capital lifted their price target on shares of Q2 to $67.00 and gave the company an “in-line” rating in a research note on Thursday, August 9th. Raymond James lifted their price target on shares of Q2 from $65.00 to $72.00 and gave the company an “outperform” rating in a research note on Monday, September 10th. Finally, DA Davidson lifted their price target on shares of Q2 to $52.00 and gave the company a “neutral” rating in a research note on Thursday, August 9th. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company. The company presently has a consensus rating of “Hold” and an average target price of $61.86.

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About Q2

Q2 Holdings, Inc provides cloud-based digital banking solutions to regional and community financial institutions (RCFIs) in the United States. It offers Q2online, a browser-based digital banking solution that delivers RCFI-branded digital banking capabilities; Q2 Sentinel, a security analytics solution; Q2 Corporate to support RCFIs to attract and retain larger commercial accounts; and Q2 SMART, a targeting and messaging platform.

Read More: Are Wall Street analysts’ stock ratings worth following?

Earnings History for Q2 (NYSE:QTWO)

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