Zacks: Brokerages Expect Q2 Holdings, Inc. (NYSE:QTWO) Will Announce Quarterly Sales of $140.38 Million

Equities analysts expect that Q2 Holdings, Inc. (NYSE:QTWOGet Rating) will post $140.38 million in sales for the current fiscal quarter, Zacks reports. Eight analysts have issued estimates for Q2’s earnings, with estimates ranging from $139.90 million to $140.87 million. Q2 reported sales of $123.57 million in the same quarter last year, which indicates a positive year-over-year growth rate of 13.6%. The company is expected to issue its next earnings report on Monday, January 1st.

According to Zacks, analysts expect that Q2 will report full year sales of $579.47 million for the current year, with estimates ranging from $578.04 million to $580.82 million. For the next year, analysts forecast that the firm will report sales of $688.30 million, with estimates ranging from $686.13 million to $692.20 million. Zacks’ sales averages are a mean average based on a survey of sell-side analysts that follow Q2.

Q2 (NYSE:QTWOGet Rating) last posted its quarterly earnings data on Monday, May 2nd. The technology company reported $0.03 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.06 by ($0.03). Q2 had a negative return on equity of 7.59% and a negative net margin of 21.43%. During the same quarter in the previous year, the company posted ($0.14) earnings per share.

Several brokerages have recently issued reports on QTWO. Needham & Company LLC decreased their target price on shares of Q2 from $105.00 to $87.00 and set a “buy” rating on the stock in a research report on Thursday, February 17th. Piper Sandler dropped their target price on shares of Q2 from $81.00 to $74.00 and set a “neutral” rating on the stock in a research note on Thursday, February 17th. Raymond James cut their price target on Q2 from $115.00 to $90.00 and set an “outperform” rating on the stock in a research note on Thursday, February 17th. Truist Financial reduced their price objective on shares of Q2 from $125.00 to $85.00 in a research note on Wednesday, May 4th. Finally, DA Davidson reduced their target price on shares of Q2 from $94.00 to $74.00 in a report on Tuesday, April 26th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and five have issued a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $81.08.

In other Q2 news, SVP Barry G. Benton sold 5,835 shares of the company’s stock in a transaction on Friday, March 4th. The shares were sold at an average price of $58.76, for a total transaction of $342,864.60. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CEO Matthew P. Flake sold 53,502 shares of the company’s stock in a transaction on Friday, March 4th. The shares were sold at an average price of $59.24, for a total transaction of $3,169,458.48. The disclosure for this sale can be found here. Insiders sold 81,954 shares of company stock valued at $4,840,915 over the last 90 days. 4.50% of the stock is currently owned by company insiders.

Several hedge funds have recently added to or reduced their stakes in QTWO. Raymond James Financial Services Advisors Inc. boosted its position in shares of Q2 by 15.8% during the 3rd quarter. Raymond James Financial Services Advisors Inc. now owns 3,613 shares of the technology company’s stock worth $290,000 after purchasing an additional 494 shares in the last quarter. Advisor Group Holdings Inc. boosted its position in shares of Q2 by 8.1% during the 3rd quarter. Advisor Group Holdings Inc. now owns 3,673 shares of the technology company’s stock worth $295,000 after purchasing an additional 276 shares in the last quarter. Mackenzie Financial Corp bought a new position in Q2 in the 3rd quarter valued at about $257,000. Principal Financial Group Inc. lifted its position in Q2 by 31.2% in the 3rd quarter. Principal Financial Group Inc. now owns 11,473 shares of the technology company’s stock valued at $919,000 after acquiring an additional 2,729 shares in the last quarter. Finally, Barclays PLC lifted its position in Q2 by 46.7% in the 3rd quarter. Barclays PLC now owns 56,455 shares of the technology company’s stock valued at $4,524,000 after acquiring an additional 17,962 shares in the last quarter.

NYSE:QTWO opened at $49.49 on Thursday. The company has a current ratio of 2.98, a quick ratio of 2.98 and a debt-to-equity ratio of 1.47. Q2 has a 12-month low of $38.90 and a 12-month high of $108.89. The stock has a 50-day moving average price of $55.08 and a 200 day moving average price of $66.78. The stock has a market capitalization of $2.83 billion, a P/E ratio of -25.38 and a beta of 1.45.

Q2 Company Profile (Get Rating)

Q2 Holdings, Inc provides cloud-based digital banking solutions to regional and community financial institutions (RCFIs) in the United States. The company offers Q2 Consumer Banking, a browser-based digital banking solution and comprehensive financial institution branded digital banking capabilities; Q2 Small Business and Commercial, a mobile and tablet digital banking solution; Q2mobile Remote Deposit Capture, a partnered solution that allows remote check deposit capture.

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