Q2 (NYSE:QTWO) Reaches New 1-Year High – Still a Buy?

Q2 Holdings, Inc. (NYSE:QTWO) reached a new 52-week high on Tuesday . The stock traded as high as $86.37 and last traded at $85.81, with a volume of 126875 shares. The stock had previously closed at $84.38.

Analyst Ratings Changes

A number of research firms have recently issued reports on QTWO. Compass Point lifted their target price on shares of Q2 from $91.00 to $107.00 and gave the company a “buy” rating in a research note on Thursday. Piper Sandler boosted their price objective on Q2 from $74.00 to $93.00 and gave the stock a “neutral” rating in a research note on Thursday. DA Davidson restated a “neutral” rating and issued a $76.00 target price on shares of Q2 in a research note on Monday, September 30th. Citigroup cut shares of Q2 from a “buy” rating to a “neutral” rating and raised their price objective for the company from $72.00 to $90.00 in a research report on Friday, October 18th. Finally, Needham & Company LLC upped their target price on shares of Q2 from $90.00 to $120.00 and gave the stock a “buy” rating in a research report on Thursday. Five investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $90.79.

Q2 Stock Performance

The firm has a market cap of $6.16 billion, a P/E ratio of -89.23 and a beta of 1.58. 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’s 50-day moving average is $79.23 and its 200 day moving average is $68.85.

Q2 (NYSE:QTWO) last released its quarterly earnings results on Wednesday, November 6th. The technology company reported ($0.03) EPS for the quarter, topping analysts’ consensus estimates of ($0.04) by $0.01. The company had revenue of $175.02 million for the quarter, compared to analyst estimates of $173.31 million. Q2 had a negative return on equity of 3.95% and a negative net margin of 10.40%. On average, research analysts predict that Q2 Holdings, Inc. will post -0.02 earnings per share for the current year.

Insider Activity at Q2

In other news, EVP Jonathan Price sold 11,000 shares of the company’s stock in a transaction that occurred on Friday, August 16th. The stock was sold at an average price of $71.64, for a total value of $788,040.00. Following the transaction, the executive vice president now owns 215,079 shares of the company’s stock, valued at approximately $15,408,259.56. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In related news, EVP Jonathan Price sold 11,000 shares of Q2 stock in a transaction that occurred on Friday, August 16th. The shares were sold at an average price of $71.64, for a total transaction of $788,040.00. Following the sale, the executive vice president now directly owns 215,079 shares in the company, valued at $15,408,259.56. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, General Counsel Michael S. Kerr sold 517 shares of the business’s stock in a transaction that occurred on Wednesday, September 11th. The stock was sold at an average price of $70.86, for a total transaction of $36,634.62. Following the completion of the transaction, the general counsel now owns 61,130 shares in the company, valued at $4,331,671.80. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 41,963 shares of company stock valued at $3,109,699. Insiders own 3.00% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Brown Capital Management LLC boosted its position in shares of Q2 by 0.4% during the 1st quarter. Brown Capital Management LLC now owns 2,565,647 shares of the technology company’s stock valued at $134,850,000 after acquiring an additional 11,000 shares during the last quarter. Conestoga Capital Advisors LLC grew its position in Q2 by 1.5% during the 3rd quarter. Conestoga Capital Advisors LLC now owns 2,308,194 shares of the technology company’s stock worth $184,125,000 after acquiring an additional 34,300 shares during the last quarter. Hood River Capital Management LLC grew its holdings in shares of Q2 by 5.7% in the second quarter. Hood River Capital Management LLC now owns 1,261,924 shares of the technology company’s stock worth $76,132,000 after purchasing an additional 67,757 shares during the last quarter. American Century Companies Inc. grew its holdings in Q2 by 5,990.6% in the 2nd quarter. American Century Companies Inc. now owns 1,210,143 shares of the technology company’s stock worth $73,008,000 after acquiring an additional 1,190,274 shares during the last quarter. Finally, Perpetual Ltd bought a new stake in shares of Q2 in the third quarter worth about $80,788,000.

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.