Q2 (NYSE:QTWO) Announces Earnings Results

Q2 (NYSE:QTWO) issued its earnings results on Wednesday. The technology company reported ($0.03) EPS for the quarter, topping analysts’ consensus estimates of ($0.04) by $0.01, reports. Q2 had a negative net margin of 10.40% and a negative return on equity of 3.95%. The company had revenue of $175.02 million for the quarter, compared to the consensus estimate of $173.31 million. Q2 updated its FY 2024 guidance to EPS and its Q4 2024 guidance to EPS.

Q2 Stock Up 0.9 %

Shares of NYSE:QTWO traded up $0.89 during trading hours on Friday, reaching $103.14. The stock had a trading volume of 251,360 shares, compared to its average volume of 591,018. Q2 has a 1 year low of $32.97 and a 1 year high of $105.00. The firm’s 50 day moving average is $79.80 and its 200-day moving average is $69.08. The company has a debt-to-equity ratio of 1.02, a quick ratio of 2.44 and a current ratio of 2.44. The stock has a market capitalization of $6.22 billion, a price-to-earnings ratio of -88.08 and a beta of 1.58.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on QTWO. The Goldman Sachs Group lifted their price target on shares of Q2 from $86.00 to $103.00 and gave the company a “buy” rating in a research report on Thursday. Truist Financial reiterated a “buy” rating and set a $100.00 price target (up from $78.00) on shares of Q2 in a research report on Thursday. Compass Point lifted their price target on shares of Q2 from $91.00 to $107.00 and gave the company a “buy” rating in a research report on Thursday. Stifel Nicolaus lifted their price target on shares of Q2 from $65.00 to $85.00 and gave the company a “buy” rating in a research report on Thursday, August 1st. Finally, BTIG Research lifted their price objective on shares of Q2 from $75.00 to $82.00 and gave the company a “buy” rating in a report on Monday, August 26th. Five analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. According to MarketBeat, Q2 has a consensus rating of “Moderate Buy” and a consensus target price of $90.79.

Insider Buying and Selling at Q2

In other news, General Counsel Michael S. Kerr sold 517 shares of the company’s stock in a transaction on Wednesday, September 11th. The shares were 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 owns 61,130 shares in the company, valued at approximately $4,331,671.80. 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 news, General Counsel Michael S. Kerr sold 517 shares of the company’s stock in a transaction on Wednesday, September 11th. The shares were 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 owns 61,130 shares in the company, valued at approximately $4,331,671.80. 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. Also, 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 owns 227,672 shares of the company’s stock, valued at approximately $16,376,446.96. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 41,963 shares of company stock valued at $3,109,699. Insiders own 3.00% of the company’s stock.

Institutional Trading of Q2

Large investors have recently bought and sold shares 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 purchasing an additional 169 shares during the period. Fidelis Capital Partners LLC acquired a new stake in Q2 during the 1st quarter worth $50,000. International Assets Investment Management LLC boosted its stake in Q2 by 7,878.3% during the 3rd quarter. International Assets Investment Management LLC now owns 1,835 shares of the technology company’s stock worth $146,000 after purchasing an additional 1,812 shares during the period. Asset Management One Co. Ltd. boosted its stake in Q2 by 108.1% during the 3rd quarter. Asset Management One Co. Ltd. now owns 1,856 shares of the technology company’s stock worth $148,000 after purchasing an additional 964 shares during the period. Finally, Quest Partners LLC acquired a new stake in shares of Q2 in the 2nd quarter worth $153,000.

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.