Equities research analysts predict that Q2 Holdings Inc (NYSE:QTWO) will post sales of $60.38 million for the current fiscal quarter, Zacks Investment Research reports. Seven analysts have issued estimates for Q2’s earnings. The lowest sales estimate is $60.02 million and the highest is $61.50 million. Q2 posted sales of $50.12 million during the same quarter last year, which would indicate a positive year over year growth rate of 20.5%. The firm is expected to report its next quarterly earnings report on Wednesday, November 7th.
On average, analysts expect that Q2 will report full year sales of $238.73 million for the current fiscal year, with estimates ranging from $237.60 million to $239.20 million. For the next year, analysts forecast that the business will report sales of $295.85 million, with estimates ranging from $293.79 million to $300.66 million. Zacks’ sales averages are an average based on a survey of analysts that follow Q2.
Q2 (NYSE:QTWO) last issued its quarterly earnings data on Tuesday, August 7th. The technology company reported $0.01 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of ($0.14) by $0.15. Q2 had a negative net margin of 12.07% and a negative return on equity of 14.66%. The business had revenue of $58.57 million during the quarter, compared to the consensus estimate of $58.34 million.
A number of research analysts have recently weighed in on QTWO shares. Royal Bank of Canada reissued a “buy” rating and set a $65.00 target price on shares of Q2 in a research report on Thursday, August 9th. Craig Hallum set a $70.00 target price on shares of Q2 and gave the company a “buy” rating in a research report on Thursday, August 9th. Needham & Company LLC increased their target price on shares of Q2 from $62.00 to $70.00 and gave the company a “buy” rating in a research report on Thursday, August 9th. DA Davidson increased their target price on shares of Q2 to $52.00 and gave the company a “neutral” rating in a research report on Thursday, August 9th. Finally, Stifel Nicolaus reissued a “buy” rating and set a $68.00 target price on shares of Q2 in a research report on Thursday, August 9th. Nine analysts have rated the stock with a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company’s stock. The stock has an average rating of “Buy” and a consensus price target of $60.07.
Shares of QTWO stock opened at $50.05 on Friday. Q2 has a 52-week low of $36.25 and a 52-week high of $67.10. The company has a quick ratio of 6.00, a current ratio of 6.00 and a debt-to-equity ratio of 1.12. The stock has a market capitalization of $2.60 billion, a price-to-earnings ratio of -104.27 and a beta of 1.43.
In related news, insider William M. Furrer sold 10,062 shares of the firm’s stock in a transaction that occurred on Tuesday, October 2nd. The shares were sold at an average price of $56.58, for a total value of $569,307.96. Following the completion of the transaction, the insider now directly owns 79,686 shares of the company’s stock, valued at approximately $4,508,633.88. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, SVP Barry G. Benton sold 5,541 shares of the firm’s stock in a transaction that occurred on Wednesday, September 12th. The stock was sold at an average price of $65.73, for a total transaction of $364,209.93. Following the completion of the transaction, the senior vice president now directly owns 38,140 shares of the company’s stock, valued at $2,506,942.20. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 1,464,977 shares of company stock valued at $86,524,743. 17.90% of the stock is owned by insiders.
A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Sei Investments Co. boosted its holdings in Q2 by 17.6% in the 1st quarter. Sei Investments Co. now owns 7,217 shares of the technology company’s stock worth $329,000 after buying an additional 1,080 shares during the period. Metropolitan Life Insurance Co. NY boosted its holdings in Q2 by 13.7% in the 2nd quarter. Metropolitan Life Insurance Co. NY now owns 11,840 shares of the technology company’s stock worth $675,000 after buying an additional 1,431 shares during the period. Barings LLC boosted its holdings in Q2 by 23.2% in the 2nd quarter. Barings LLC now owns 8,200 shares of the technology company’s stock worth $468,000 after buying an additional 1,543 shares during the period. MetLife Investment Advisors LLC boosted its holdings in Q2 by 13.0% in the 2nd quarter. MetLife Investment Advisors LLC now owns 16,765 shares of the technology company’s stock worth $956,000 after buying an additional 1,935 shares during the period. Finally, SG Americas Securities LLC bought a new position in Q2 in the 2nd quarter worth approximately $132,000. 93.56% of the stock is owned by institutional investors.
Q2 Company Profile
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.
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