Q2 (NYSE:QTWO) Rating Lowered to Neutral at Citigroup

Q2 (NYSE:QTWO) was downgraded by investment analysts at Citigroup from a “buy” rating to a “neutral” rating in a research note issued to investors on Friday, MarketBeat reports. They currently have a $90.00 price objective on the technology company’s stock, up from their previous price objective of $72.00. Citigroup’s price target indicates a potential upside of 9.34% from the stock’s previous close.

Several other equities analysts also recently commented on the stock. Truist Financial reiterated a “buy” rating and issued a $78.00 price objective (up from $68.00) on shares of Q2 in a report on Thursday, August 1st. Stifel Nicolaus increased their price target on shares of Q2 from $65.00 to $85.00 and gave the company a “buy” rating in a report on Thursday, August 1st. DA Davidson restated a “neutral” rating and set a $76.00 price objective on shares of Q2 in a report on Monday, September 30th. The Goldman Sachs Group increased their target price on Q2 from $59.00 to $86.00 and gave the stock a “buy” rating in a research note on Thursday, August 1st. Finally, BTIG Research lifted their price target on Q2 from $75.00 to $82.00 and gave the stock a “buy” rating in a report on Monday, August 26th. One research analyst has rated the stock with a sell rating, five have given a hold rating and eight have given a buy rating to the company’s stock. Based on data from MarketBeat, Q2 presently has an average rating of “Moderate Buy” and a consensus target price of $73.64.

Q2 Price Performance

Shares of QTWO opened at $82.31 on Friday. The company has a market cap of $4.96 billion, a price-to-earnings ratio of -70.96 and a beta of 1.59. The company has a current ratio of 2.44, a quick ratio of 2.44 and a debt-to-equity ratio of 1.02. The company’s fifty day simple moving average is $76.02 and its 200 day simple moving average is $65.83. Q2 has a 1-year low of $28.91 and a 1-year high of $82.73.

Q2 (NYSE:QTWO) last issued its earnings results on Wednesday, July 31st. The technology company reported ($0.06) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.03) by ($0.03). Q2 had a negative net margin of 10.40% and a negative return on equity of 3.95%. The firm had revenue of $172.89 million during the quarter, compared to the consensus estimate of $170.67 million. On average, research analysts forecast that Q2 will post -0.01 earnings per share for the current fiscal year.

Insider Activity at Q2

In other Q2 news, CRO Michael A. Volanoski sold 1,428 shares of the stock in a transaction dated Thursday, September 12th. The shares were sold at an average price of $71.93, for a total transaction of $102,716.04. Following the sale, the executive now directly owns 227,672 shares in the company, valued at $16,376,446.96. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In other news, Director Jeffrey T. Diehl sold 28,005 shares of the business’s stock in a transaction on Monday, August 26th. The stock was sold at an average price of $75.25, for a total transaction of $2,107,376.25. Following the completion of the transaction, the director now owns 397,702 shares of the company’s stock, valued at approximately $29,927,075.50. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CRO Michael A. Volanoski sold 1,428 shares of the company’s stock in a transaction on Thursday, September 12th. The stock was sold at an average price of $71.93, for a total value of $102,716.04. Following the sale, the executive now owns 227,672 shares of the company’s stock, valued at approximately $16,376,446.96. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 41,963 shares of company stock valued at $3,109,699 over the last quarter. 3.00% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the business. CWM LLC boosted its stake in shares of Q2 by 54.2% in the 2nd quarter. CWM LLC now owns 481 shares of the technology company’s stock valued at $29,000 after purchasing an additional 169 shares in the last quarter. Fidelis Capital Partners LLC acquired a new stake in Q2 in the first quarter valued at approximately $50,000. Quest Partners LLC bought a new stake in shares of Q2 during the second quarter worth $153,000. SG Americas Securities LLC acquired a new position in shares of Q2 during the first quarter worth $173,000. Finally, nVerses Capital LLC bought a new position in shares of Q2 in the 2nd quarter valued at $181,000.

Q2 Company Profile

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.