Q2 (NYSE:QTWO) Downgraded by Citigroup

Citigroup cut shares of Q2 (NYSE:QTWO) from a buy rating to a neutral rating in a report released on Friday, MarketBeat reports. Citigroup currently has $90.00 target price on the technology company’s stock, up from their prior target price of $72.00.

Several other analysts also recently weighed in on the stock. DA Davidson reiterated a “neutral” rating and issued a $76.00 price objective on shares of Q2 in a research report on Monday, September 30th. Truist Financial restated a “buy” rating and set a $78.00 price target (up from $68.00) on shares of Q2 in a research report on Thursday, August 1st. Royal Bank of Canada boosted their price target on shares of Q2 from $60.00 to $76.00 and gave the stock a “sector perform” rating in a research report 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 on the stock. Finally, The Goldman Sachs Group boosted their price target on shares of Q2 from $59.00 to $86.00 and gave the stock a “buy” rating in a research report on Thursday, August 1st. One analyst has rated the stock with a sell rating, five have issued a hold rating and eight have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $73.64.

Q2 Trading Up 1.4 %

Shares of NYSE:QTWO opened at $83.46 on Friday. The company has a market cap of $5.02 billion, a PE ratio of -61.82 and a beta of 1.59. The company’s 50-day moving average price is $76.34 and its 200 day moving average price is $66.16. Q2 has a fifty-two week low of $28.91 and a fifty-two week high of $84.08. The company has a quick ratio of 2.44, a current ratio of 2.44 and a debt-to-equity ratio of 1.02.

Q2 (NYSE:QTWO) last issued 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 firm had revenue of $172.89 million during 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%. Sell-side analysts anticipate that Q2 will post -0.01 earnings per share for the current year.

Insider Transactions at Q2

In other news, CRO Michael A. Volanoski sold 1,428 shares of Q2 stock in a transaction that occurred on Thursday, September 12th. The shares were sold at an average price of $71.93, for a total value of $102,716.04. Following the transaction, 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 position. The sale was disclosed in a document filed with the SEC, which is accessible through this link. In other news, Director James Offerdahl sold 1,013 shares of Q2 stock in a transaction that occurred on Wednesday, August 28th. The shares were sold at an average price of $73.97, for a total value of $74,931.61. Following the transaction, the director now directly owns 18,789 shares of the company’s stock, valued at $1,389,822.33. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CRO Michael A. Volanoski sold 1,428 shares of Q2 stock in a transaction that occurred 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 approximately $16,376,446.96. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 41,963 shares of company stock valued at $3,109,699 in the last quarter. Insiders own 3.60% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the company. Hood River Capital Management LLC purchased a new position in Q2 during the first quarter valued at approximately $62,765,000. American Century Companies Inc. grew its position in Q2 by 5,990.6% during the second quarter. American Century Companies Inc. now owns 1,210,143 shares of the technology company’s stock valued at $73,008,000 after purchasing an additional 1,190,274 shares in the last quarter. Perpetual Ltd purchased a new position in Q2 during the third quarter valued at approximately $80,788,000. Price T Rowe Associates Inc. MD grew its position in Q2 by 1,910.0% during the first quarter. Price T Rowe Associates Inc. MD now owns 719,767 shares of the technology company’s stock valued at $37,832,000 after purchasing an additional 683,957 shares in the last quarter. Finally, Wasatch Advisors LP grew its position in Q2 by 10.8% during the first quarter. Wasatch Advisors LP now owns 4,078,877 shares of the technology company’s stock valued at $214,386,000 after purchasing an additional 398,871 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.