Equities analysts predict that Q2 Holdings Inc (NYSE:QTWO) will report sales of $79.21 million for the current quarter, according to Zacks. Seven analysts have provided estimates for Q2’s earnings. The highest sales estimate is $79.50 million and the lowest is $78.89 million. Q2 reported sales of $60.54 million during the same quarter last year, which would suggest a positive year over year growth rate of 30.8%. The firm is scheduled to issue its next earnings results after the market closes on Tuesday, November 5th.
According to Zacks, analysts expect that Q2 will report full year sales of $313.61 million for the current year, with estimates ranging from $311.30 million to $315.00 million. For the next financial year, analysts expect that the business will report sales of $385.68 million, with estimates ranging from $380.07 million to $392.72 million. Zacks Investment Research’s sales averages are a mean average based on a survey of sell-side research firms that cover Q2.
Q2 (NYSE:QTWO) last released its earnings results on Wednesday, August 7th. The technology company reported ($0.20) earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of ($0.21) by $0.01. The firm had revenue of $77.60 million during the quarter, compared to analysts’ expectations of $76.10 million. Q2 had a negative return on equity of 13.40% and a negative net margin of 20.73%. The company’s revenue was up 32.0% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.01 EPS.
Several brokerages have recently weighed in on QTWO. Canaccord Genuity upgraded Q2 from a “hold” rating to a “buy” rating and raised their price objective for the company from $70.00 to $97.00 in a report on Thursday, September 12th. SunTrust Banks raised their price objective on Q2 from $84.00 to $100.00 and gave the company a “buy” rating in a report on Friday, August 9th. Zacks Investment Research upgraded Q2 from a “sell” rating to a “hold” rating in a report on Saturday, August 10th. Compass Point began coverage on Q2 in a report on Tuesday, August 13th. They issued a “buy” rating and a $105.00 price objective for the company. Finally, JPMorgan Chase & Co. raised their price objective on Q2 from $78.00 to $90.00 and gave the company an “overweight” rating in a report on Thursday, August 8th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and fourteen have issued a buy rating to the company’s stock. The company has an average rating of “Buy” and a consensus price target of $82.35.
In related news, SVP Barry G. Benton sold 10,000 shares of Q2 stock in a transaction dated Tuesday, October 1st. The stock was sold at an average price of $76.89, for a total transaction of $768,900.00. Following the completion of the transaction, the senior vice president now owns 47,024 shares in the company, valued at $3,615,675.36. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Odus Edward Wittenburg, Jr. sold 21,250 shares of Q2 stock in a transaction dated Friday, August 23rd. The stock was sold at an average price of $90.10, for a total value of $1,914,625.00. Following the transaction, the executive vice president now owns 84,923 shares of the company’s stock, valued at approximately $7,651,562.30. The disclosure for this sale can be found here. Insiders have sold 275,326 shares of company stock valued at $22,221,672 in the last quarter. 12.80% of the stock is currently owned by corporate insiders.
A number of hedge funds have recently modified their holdings of QTWO. Brown Capital Management LLC lifted its position in Q2 by 26.2% during the second quarter. Brown Capital Management LLC now owns 4,003,706 shares of the technology company’s stock worth $305,723,000 after acquiring an additional 832,296 shares during the last quarter. Vanguard Group Inc. lifted its position in Q2 by 10.2% during the second quarter. Vanguard Group Inc. now owns 3,943,505 shares of the technology company’s stock worth $301,125,000 after acquiring an additional 363,780 shares during the last quarter. Waddell & Reed Financial Inc. lifted its position in Q2 by 27.4% during the second quarter. Waddell & Reed Financial Inc. now owns 1,376,062 shares of the technology company’s stock worth $105,076,000 after acquiring an additional 295,811 shares during the last quarter. First Trust Advisors LP raised its position in shares of Q2 by 480.8% in the second quarter. First Trust Advisors LP now owns 306,783 shares of the technology company’s stock valued at $23,426,000 after buying an additional 253,966 shares in the last quarter. Finally, Mitsubishi UFJ Trust & Banking Corp acquired a new stake in shares of Q2 in the second quarter valued at approximately $15,491,000.
QTWO stock traded down $1.45 during trading hours on Wednesday, reaching $71.05. 642,900 shares of the stock were exchanged, compared to its average volume of 413,981. The firm’s 50-day moving average is $79.34 and its 200-day moving average is $77.41. The company has a market cap of $3.61 billion, a price-to-earnings ratio of -192.03 and a beta of 1.27. The company has a debt-to-equity ratio of 1.14, a current ratio of 6.72 and a quick ratio of 6.72. Q2 has a 12 month low of $43.41 and a 12 month high of $93.63.
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 Q2 Digital Banking and Transactions, a browser-based digital banking solution that delivers RCFI-branded digital banking capabilities; Q2mobility App, a mobile and tablet digital banking solution; Q2mobile Remote Deposit Capture, a partnered solution that allows remote check deposit capture; and Q2 Person-to-Person Payments, a partnered secure and integrated person-to-person payments solution.
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