Q2 (NYSE:QTWO) Sets New 1-Year Low – What’s Next?

Shares of Q2 Holdings, Inc. (NYSE:QTWO) reached a new 52-week low during trading on Wednesday . The company traded as low as $44.64 and last traded at $44.7730, with a volume of 1039460 shares. The stock had previously closed at $47.00.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on QTWO. JPMorgan Chase & Co. upped their price target on shares of Q2 from $75.00 to $80.00 and gave the company an “overweight” rating in a report on Thursday, April 30th. Wall Street Zen downgraded shares of Q2 from a “buy” rating to a “hold” rating in a report on Saturday, May 2nd. Royal Bank Of Canada reduced their price target on shares of Q2 from $86.00 to $67.00 and set a “sector perform” rating on the stock in a report on Thursday, February 12th. Morgan Stanley set a $63.00 price target on shares of Q2 in a report on Thursday, April 30th. Finally, Needham & Company LLC reaffirmed a “buy” rating and issued a $70.00 price target on shares of Q2 in a report on Thursday, April 30th. Seven analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. Based on data from MarketBeat, Q2 currently has a consensus rating of “Moderate Buy” and a consensus price target of $75.27.

Q2 Stock Up 0.2%

The company has a market cap of $2.83 billion, a PE ratio of 40.32 and a beta of 1.39. The firm’s fifty day simple moving average is $49.04 and its 200-day simple moving average is $59.90.

Q2 (NYSE:QTWO) last announced its quarterly earnings results on Wednesday, April 29th. The technology company reported $0.63 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.71 by ($0.08). The business had revenue of $216.51 million during the quarter, compared to analysts’ expectations of $214.40 million. Q2 had a net margin of 8.99% and a return on equity of 14.68%. The firm’s revenue for the quarter was up 14.1% on a year-over-year basis. During the same period last year, the company earned $0.07 EPS. On average, analysts predict that Q2 Holdings, Inc. will post 1.57 earnings per share for the current year.

Insiders Place Their Bets

In other news, insider John E. Breeden sold 68,707 shares of the business’s stock in a transaction that occurred on Thursday, March 5th. The shares were sold at an average price of $51.73, for a total value of $3,554,213.11. Following the completion of the transaction, the insider owned 90,312 shares of the company’s stock, valued at $4,671,839.76. The trade was a 43.21% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CFO Jonathan Price sold 32,156 shares of the business’s stock in a transaction that occurred on Wednesday, March 4th. The shares were sold at an average price of $49.75, for a total transaction of $1,599,761.00. Following the completion of the transaction, the chief financial officer directly owned 197,135 shares of the company’s stock, valued at approximately $9,807,466.25. This represents a 14.02% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders have sold 411,484 shares of company stock valued at $20,720,329. 0.88% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Q2

A number of institutional investors have recently modified their holdings of the company. Entropy Technologies LP raised its position in shares of Q2 by 864.9% in the first quarter. Entropy Technologies LP now owns 26,902 shares of the technology company’s stock valued at $1,272,000 after buying an additional 24,114 shares during the last quarter. Healthcare of Ontario Pension Plan Trust Fund acquired a new position in shares of Q2 in the first quarter valued at approximately $1,923,000. Renaissance Technologies LLC raised its position in shares of Q2 by 136.1% in the first quarter. Renaissance Technologies LLC now owns 213,900 shares of the technology company’s stock valued at $10,117,000 after buying an additional 123,300 shares during the last quarter. Keebeck Wealth Management increased its position in Q2 by 13.6% during the first quarter. Keebeck Wealth Management now owns 6,883 shares of the technology company’s stock worth $326,000 after purchasing an additional 826 shares during the last quarter. Finally, Arrowstreet Capital Limited Partnership increased its position in Q2 by 139.1% during the first quarter. Arrowstreet Capital Limited Partnership now owns 516,246 shares of the technology company’s stock worth $24,418,000 after purchasing an additional 300,375 shares during the last quarter.

Q2 Company Profile

Q2 Holdings, Inc develops and delivers cloud-based digital banking solutions that enable banks and credit unions to enhance customer and member experiences. The company’s core offerings include the Q2 Platform, a comprehensive suite of online and mobile banking applications for retail and commercial customers, as well as digital onboarding, payments, and fraud prevention tools. Q2’s platform also provides analytics and reporting capabilities designed to help financial institutions tailor products, optimize workflows, and drive engagement.

Founded in 2004 and headquartered in Austin, Texas, Q2 serves hundreds of financial institutions across the United States and Canada.