Brokers expect Q2 Holdings, Inc. (NYSE: QTWO – Get Rating) to report sales of $132.41 million for the current fiscal quarter, reports Zacks Investment Research. Eight analysts made second-quarter earnings estimates. The lowest sales estimate is $132.13 million and the highest is $133.00 million. Q2 saw sales of $116.52 million in the same quarter last year, indicating a positive growth rate of 13.6% year-over-year. The company is expected to release its next results on Monday, January 1.
On average, analysts expect the second quarter to report sales of $578.65 million for the current fiscal year, with estimates ranging from $578.00 to $579.80 million. For the next fiscal year, analysts expect the company to report sales of $686.74 million, with estimates ranging from $684.84 million to $689.40 million. Zacks sales averages are an average average based on a survey of research companies that provide coverage for the second quarter.
Q2 (NYSE:QTWO – Get Rating) last released its quarterly results on Tuesday, February 15. The tech company reported EPS ($0.14) for the quarter, beating the Zacks consensus estimate of ($0.21) by $0.07. The company posted revenue of $131.89 million for the quarter, versus analyst estimates of $132.18 million. The second quarter saw a negative net margin of 22.61% and a negative return on equity of 6.22%. In the same period of the previous year, the company made ($0.21) earnings per share.
A number of research companies have commented on QTWO. Needham & Company LLC cut its second-quarter stock price target from $105.00 to $87.00 and placed a “buy” rating on the stock in a Thursday, Feb. 17 research report. Stifel Nicolaus cut his second-quarter stock price target from $100.00 to $90.00 and placed a “buy” rating on the stock in a Monday, March 21 research report. Zacks Investment Research upgraded Q2 stocks from a “sell” rating to a “hold” rating in a Thursday, Feb. 24 research report. Canaccord Genuity Group reduced its price target on Q2 shares from $135.00 to $100.00 in a Thursday, February 17 research report. Finally, Piper Sandler cut her price target on the Q2 stock from $81.00 to $74.00 and set a “neutral” rating on the stock in a Thursday, Feb. 17 research report. One financial analyst has assigned the stock a sell rating, three have assigned a hold rating and seven have assigned the stock a buy rating. According to data from MarketBeat, Q2 has a consensus rating of “Buy” and a consensus target price of $91.50.
Separately, Chief Financial Officer David J. Mehok sold 1,196 shares in a trade that took place on Friday, March 4. The shares were sold at an average price of $58.73, for a total value of $70,241.08. The sale was disclosed in a document filed with the SEC, accessible via this link. Additionally, CEO Matthew P. Flake sold 53,502 shares in a trade that took place on Friday, March 4. The shares were sold at an average price of $59.24, for a total transaction of $3,169,458.48. The disclosure of this sale can be found here. Insiders sold 81,954 shares of the company worth $4,840,915 in the past 90 days. 4.50% of the shares are currently held by insiders of the company.
A number of large investors have recently changed their QTWO holdings. Wasatch Advisors Inc. increased its second quarter stake from 198.4% in the third quarter. Wasatch Advisors Inc. now owns 2,991,733 shares of the technology company valued at $239,757,000 after buying an additional 1,989,083 shares in the last quarter. Conestoga Capital Advisors LLC increased its second quarter stake from 53.1% in the fourth quarter. Conestoga Capital Advisors LLC now owns 1,692,903 shares of the technology company valued at $134,484,000 after buying an additional 586,845 shares last quarter. Allspring Global Investments Holdings LLC purchased a new Q2 Q4 stake worth approximately $43,587,000. Champlain Investment Partners LLC increased its Q2 equity position by 33.6% during the fourth quarter. Champlain Investment Partners LLC now owns 2,146,140 shares of the technology company worth $170,489,000 after acquiring an additional 540,000 shares last quarter. Finally, Norges Bank purchased a new equity stake in Q2 during the fourth quarter at a value of $40,470,000.
NYSE: QTWO traded down $0.38 on Thursday, hitting $57.06. The stock recorded a trading volume of 286,365 shares, compared to an average volume of 427,904. The company has a market capitalization of $3.25 billion, a P/E ratio of -28.53 and a beta of 1.42. Q2 has a 1-year low of $51.45 and a 1-year high of $108.89. The company has a quick ratio of 3.10, a current ratio of 3.10 and a leverage ratio of 0.97. The stock has a fifty-day moving average price of $61.81 and a 200-day moving average price of $72.18.
About Q2 (Get an evaluation)
Q2 Holdings, Inc provides cloud-based digital banking solutions to regional and community financial institutions (RCFIs) in the United States. The Company offers Q2 Consumer Banking, a browser-based digital banking solution and comprehensive financial institution-branded digital banking capabilities; Q2 Small Business and Commercial, a mobile and tablet digital banking solution; Q2mobile Remote Deposit Capture, a partner solution that enables remote check deposit capture.
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