Q2 (NYSE:QTWO) Shares Gap Down to $27.27

Q2 Holdings, Inc. (NYSE:QTWOGet Rating)’s stock price gapped down before the market opened on Monday . The stock had previously closed at $27.27, but opened at $25.40. Q2 shares last traded at $21.89, with a volume of 622,730 shares changing hands.

Wall Street Analyst Weigh In

Several research firms recently weighed in on QTWO. Piper Sandler reduced their target price on Q2 from $26.00 to $20.00 in a report on Tuesday. Needham & Company LLC upped their price target on Q2 from $35.00 to $38.00 and gave the company a “buy” rating in a research report on Wednesday, February 22nd. Robert W. Baird lowered Q2 from an “outperform” rating to a “neutral” rating and set a $32.00 price objective on the stock. in a research note on Tuesday, January 31st. StockNews.com raised Q2 from a “sell” rating to a “hold” rating in a research note on Saturday, November 19th. Finally, DA Davidson upped their price target on Q2 from $36.00 to $38.00 and gave the company a “buy” rating in a research note on Tuesday, February 28th. One research analyst has rated the stock with a sell rating, five have given a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $45.38.

Q2 Stock Performance

The stock has a 50 day simple moving average of $31.59 and a 200 day simple moving average of $30.85. The company has a debt-to-equity ratio of 1.57, a quick ratio of 2.77 and a current ratio of 2.77.

Q2 (NYSE:QTWOGet Rating) last issued its quarterly earnings results on Tuesday, February 21st. The technology company reported ($0.23) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.13) by ($0.10). Q2 had a negative net margin of 19.27% and a negative return on equity of 11.58%. The business had revenue of $146.54 million during the quarter, compared to the consensus estimate of $149.17 million. Equities research analysts expect that Q2 Holdings, Inc. will post -0.72 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, CRO Michael A. Volanoski sold 2,548 shares of the business’s stock in a transaction on Monday, March 6th. The stock was sold at an average price of $32.05, for a total transaction of $81,663.40. Following the sale, the executive now owns 205,862 shares in the company, valued at approximately $6,597,877.10. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other Q2 news, EVP Kimberly Rutledge sold 8,711 shares of Q2 stock in a transaction dated Monday, March 6th. The stock was sold at an average price of $32.06, for a total transaction of $279,274.66. Following the transaction, the executive vice president now directly owns 99,955 shares of the company’s stock, valued at approximately $3,204,557.30. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CRO Michael A. Volanoski sold 2,548 shares of Q2 stock in a transaction dated Monday, March 6th. The stock was sold at an average price of $32.05, for a total value of $81,663.40. Following the transaction, the executive now directly owns 205,862 shares in the company, valued at $6,597,877.10. The disclosure for this sale can be found here. Insiders have sold 87,671 shares of company stock worth $2,810,532 in the last 90 days. Insiders own 3.50% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Vanguard Group Inc. lifted its stake in shares of Q2 by 1.5% in the 3rd quarter. Vanguard Group Inc. now owns 5,358,013 shares of the technology company’s stock valued at $172,527,000 after purchasing an additional 80,534 shares during the period. Conestoga Capital Advisors LLC increased its position in Q2 by 7.9% in the 4th quarter. Conestoga Capital Advisors LLC now owns 2,183,542 shares of the technology company’s stock valued at $58,672,000 after buying an additional 160,083 shares in the last quarter. Fred Alger Management LLC increased its position in Q2 by 0.5% in the 3rd quarter. Fred Alger Management LLC now owns 2,139,124 shares of the technology company’s stock valued at $68,880,000 after buying an additional 11,696 shares in the last quarter. Macquarie Group Ltd. increased its position in Q2 by 25.7% in the 4th quarter. Macquarie Group Ltd. now owns 1,761,934 shares of the technology company’s stock valued at $47,343,000 after buying an additional 359,822 shares in the last quarter. Finally, Massachusetts Financial Services Co. MA increased its position in Q2 by 6.4% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 1,466,609 shares of the technology company’s stock valued at $47,225,000 after buying an additional 88,729 shares in the last quarter.

About Q2

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Q2 Holdings, Inc engages in the provision of digital banking and lending solutions. It offers its solutions to financial institutions, financial technology companies, alternative finance companies, and other innovative companies, wishing to incorporate banking into their customer engagement and servicing strategies.

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