Wall Street brokerages expect Q2 Holdings, Inc. (NYSE:QTWO) to post $122.65 million in sales for the current quarter, according to Zacks Investment Research. Seven analysts have made estimates for Q2's earnings. The highest sales estimate is $123.03 million and the lowest is $122.06 million. Q2 reported sales of $97.58 million during the same quarter last year, which would suggest a positive year-over-year growth rate of 25.7%. The firm is scheduled to announce its next earnings report on Wednesday, August 4th.
According to Zacks, analysts expect that Q2 will report full-year sales of $496.26 million for the current year, with estimates ranging from $494.97 million to $498.36 million. For the next financial year, analysts forecast that the company will report sales of $601.26 million, with estimates ranging from $578.05 million to $613.55 million. Zacks Investment Research's sales averages are a mean average based on a survey of sell-side research analysts that that provide coverage for Q2.
Q2 (NYSE:QTWO) last released its earnings results on Wednesday, May 5th. The technology company reported ($0.14) earnings per share for the quarter, beating analysts' consensus estimates of ($0.18) by $0.04. Q2 had a negative return on equity of 5.25% and a negative net margin of 30.26%. The firm had revenue of $116.52 million during the quarter, compared to the consensus estimate of $115.39 million.
Several equities research analysts recently weighed in on QTWO shares. DA Davidson raised shares of Q2 from a "neutral" rating to a "buy" rating and cut their price objective for the stock from $128.00 to $114.00 in a research report on Thursday, May 13th. They noted that the move was a valuation call. Truist upped their price objective on shares of Q2 from $120.00 to $164.00 in a research report on Friday, February 19th. Morgan Stanley upped their price objective on shares of Q2 from $104.00 to $105.00 and gave the stock an "equal weight" rating in a research report on Friday, May 7th. Canaccord Genuity upped their price objective on shares of Q2 from $116.00 to $155.00 and gave the stock a "buy" rating in a research report on Tuesday, February 23rd. Finally, KeyCorp upped their price objective on shares of Q2 from $140.00 to $155.00 and gave the stock an "overweight" rating in a research report on Friday, February 19th. Four equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. The stock currently has a consensus rating of "Buy" and an average price target of $131.83.
QTWO opened at $101.31 on Friday. Q2 has a twelve month low of $76.20 and a twelve month high of $148.56. The business's 50-day moving average price is $98.72. The company has a debt-to-equity ratio of 0.89, a current ratio of 4.02 and a quick ratio of 4.02. The company has a market capitalization of $5.70 billion, a PE ratio of -42.04 and a beta of 1.50.
In other news, Director James Offerdahl sold 500 shares of the company's stock in a transaction that occurred on Friday, May 21st. The stock was sold at an average price of $94.62, for a total value of $47,310.00. Following the completion of the transaction, the director now owns 8,364 shares of the company's stock, valued at $791,401.68. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Barry G. Benton sold 1,403 shares of the company's stock in a transaction that occurred on Tuesday, March 16th. The shares were sold at an average price of $112.31, for a total value of $157,570.93. Following the completion of the transaction, the senior vice president now directly owns 23,107 shares of the company's stock, valued at approximately $2,595,147.17. The disclosure for this sale can be found here. Insiders sold 37,086 shares of company stock valued at $3,892,405 in the last ninety days. 9.00% of the stock is currently owned by insiders.
Large investors have recently added to or reduced their stakes in the business. Concord Wealth Partners increased its position in Q2 by 936.0% during the 1st quarter. Concord Wealth Partners now owns 259 shares of the technology company's stock valued at $26,000 after purchasing an additional 234 shares during the period. Captrust Financial Advisors increased its position in Q2 by 647.9% during the 1st quarter. Captrust Financial Advisors now owns 359 shares of the technology company's stock valued at $36,000 after purchasing an additional 311 shares during the period. International Assets Investment Management LLC increased its position in Q2 by 55.9% during the 1st quarter. International Assets Investment Management LLC now owns 530 shares of the technology company's stock valued at $62,000 after purchasing an additional 190 shares during the period. Canada Pension Plan Investment Board acquired a new stake in Q2 during the 1st quarter valued at approximately $83,000. Finally, Point72 Hong Kong Ltd acquired a new stake in Q2 during the 1st quarter valued at approximately $120,000.
Q2 Company Profile
Q2 Holdings, Inc provides cloud-based digital banking solutions to regional and community financial institutions (RCFIs) in the United States. The company offers Q2 Digital Banking and Transactions, a browser-based digital banking solution that delivers RCFI-branded digital banking capabilities; Q2mobility App, a mobile and tablet digital banking solution; Q2mobile Remote Deposit Capture, a partnered solution that allows remote check deposit capture; and Q2 Person-to-Person Payments, a partnered integrated person-to-person payments solution.
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