Q2 (NYSE:QTWO) Downgraded by Citigroup

Citigroup cut shares of Q2 (NYSE:QTWO) from a buy rating to a neutral rating in a research note released on Friday morning, Marketbeat Ratings reports. The firm currently has $90.00 price objective on the technology company’s stock, up from their prior price objective of $72.00.

A number of other equities analysts also recently weighed in on the stock. Truist Financial reaffirmed a “buy” rating and set a $78.00 price target (up previously from $68.00) on shares of Q2 in a research note on Thursday, August 1st. BTIG Research raised their target price on shares of Q2 from $75.00 to $82.00 and gave the company a “buy” rating in a research note on Monday, August 26th. Needham & Company LLC raised their target price on shares of Q2 from $65.00 to $90.00 and gave the company a “buy” rating in a research note on Thursday, August 1st. Compass Point began coverage on shares of Q2 in a research note on Wednesday, September 4th. They issued a “buy” rating and a $91.00 target price on the stock. Finally, DA Davidson reissued a “neutral” rating and issued a $76.00 target price on shares of Q2 in a research note on Monday, September 30th. One investment analyst has rated the stock with a sell rating, five have given a hold rating and eight have assigned a buy rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $73.64.

Q2 Stock Up 1.4 %

QTWO stock opened at $83.46 on Friday. The company’s 50 day simple moving average is $76.34 and its 200-day simple moving average is $66.16. The firm has a market capitalization of $5.02 billion, a PE ratio of -61.82 and a beta of 1.59. Q2 has a 12 month low of $28.91 and a 12 month high of $84.08. The company has a debt-to-equity ratio of 1.02, a current ratio of 2.44 and a quick ratio of 2.44.

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

Insider Activity at Q2

In other Q2 news, General Counsel Michael S. Kerr sold 517 shares of the firm’s stock in a transaction on Wednesday, September 11th. The shares were sold at an average price of $70.86, for a total transaction of $36,634.62. Following the completion of the transaction, the general counsel now directly owns 61,130 shares of the company’s stock, valued at $4,331,671.80. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other Q2 news, EVP Jonathan Price sold 11,000 shares of the firm’s stock in a transaction on Friday, August 16th. The shares were sold at an average price of $71.64, for a total transaction of $788,040.00. Following the completion of the transaction, the executive vice president now directly owns 215,079 shares of the company’s stock, valued at $15,408,259.56. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, General Counsel Michael S. Kerr sold 517 shares of the firm’s stock in a transaction on Wednesday, September 11th. The stock was sold at an average price of $70.86, for a total transaction of $36,634.62. Following the transaction, the general counsel now directly owns 61,130 shares of the company’s stock, valued at approximately $4,331,671.80. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 41,963 shares of company stock valued at $3,109,699. Corporate insiders own 3.60% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the stock. Los Angeles Capital Management LLC boosted its holdings in shares of Q2 by 35.9% in the 1st quarter. Los Angeles Capital Management LLC now owns 18,558 shares of the technology company’s stock valued at $975,000 after buying an additional 4,905 shares during the period. Contravisory Investment Management Inc. boosted its holdings in shares of Q2 by 4.4% in the 1st quarter. Contravisory Investment Management Inc. now owns 7,164 shares of the technology company’s stock valued at $377,000 after buying an additional 304 shares during the period. Diversified Trust Co boosted its holdings in shares of Q2 by 6.5% in the 1st quarter. Diversified Trust Co now owns 14,556 shares of the technology company’s stock valued at $765,000 after buying an additional 886 shares during the period. Wasatch Advisors LP boosted its holdings in shares of Q2 by 10.8% in the 1st quarter. Wasatch Advisors LP now owns 4,078,877 shares of the technology company’s stock valued at $214,386,000 after buying an additional 398,871 shares during the period. Finally, Accel Wealth Management acquired a new position in shares of Q2 in the 1st quarter valued at about $220,000.

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.