Q2 (NYSE:QTWO) Hits New 1-Year Low – Time to Sell?

Q2 Holdings, Inc. (NYSE:QTWO)’s share price reached a new 52-week low during mid-day trading on Friday . The stock traded as low as $51.34 and last traded at $52.1740, with a volume of 20882 shares traded. The stock had previously closed at $51.70.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on the stock. Stephens set a $90.00 price objective on shares of Q2 in a research report on Friday, January 16th. Truist Financial decreased their price target on Q2 from $110.00 to $75.00 and set a “buy” rating for the company in a report on Thursday, February 12th. Royal Bank Of Canada dropped their price objective on Q2 from $86.00 to $67.00 and set a “sector perform” rating on the stock in a research note on Thursday, February 12th. Weiss Ratings restated a “hold (c-)” rating on shares of Q2 in a research report on Thursday, January 22nd. Finally, Needham & Company LLC lowered their target price on Q2 from $90.00 to $70.00 and set a “buy” rating for the company in a report on Thursday, February 12th. One equities research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and five have given a Hold rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $79.29.

Q2 Stock Down 1.8%

The stock has a market capitalization of $3.17 billion, a PE ratio of 64.28 and a beta of 1.36. The firm has a 50 day moving average price of $65.44 and a 200 day moving average price of $69.64.

Insiders Place Their Bets

In related news, COO Himagiri K. Mukkamala sold 3,024 shares of the business’s stock in a transaction dated Wednesday, December 10th. The shares were sold at an average price of $73.68, for a total transaction of $222,808.32. Following the transaction, the chief operating officer directly owned 96,046 shares in the company, valued at approximately $7,076,669.28. The trade was a 3.05% 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. Also, CRO Michael A. Volanoski sold 5,123 shares of the stock in a transaction dated Friday, December 12th. The shares were sold at an average price of $75.46, for a total transaction of $386,581.58. Following the completion of the sale, the executive owned 166,512 shares of the company’s stock, valued at approximately $12,564,995.52. This trade represents a 2.98% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 20,883 shares of company stock valued at $1,547,778 in the last three months. 0.31% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Q2

Institutional investors have recently modified their holdings of the business. Principal Financial Group Inc. grew its position in Q2 by 502.5% during the third quarter. Principal Financial Group Inc. now owns 301,917 shares of the technology company’s stock valued at $21,856,000 after buying an additional 251,807 shares during the period. Campbell & CO Investment Adviser LLC purchased a new position in Q2 in the third quarter valued at about $1,559,000. Connor Clark & Lunn Investment Management Ltd. grew its position in shares of Q2 by 15.0% during the 2nd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 158,328 shares of the technology company’s stock valued at $14,818,000 after acquiring an additional 20,643 shares during the period. Federated Hermes Inc. increased its stake in shares of Q2 by 5.5% during the 3rd quarter. Federated Hermes Inc. now owns 788,374 shares of the technology company’s stock worth $57,070,000 after purchasing an additional 41,229 shares during the last quarter. Finally, Thrivent Financial for Lutherans increased its stake in shares of Q2 by 53.5% during the 3rd quarter. Thrivent Financial for Lutherans now owns 46,658 shares of the technology company’s stock worth $3,378,000 after purchasing an additional 16,263 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.