Q2 (NYSE:QTWO) Shares Gap Down to $27.27

Q2 Holdings, Inc. (NYSE:QTWO – Get Rating)’s share price gapped down before the market opened on Monday . The stock had previously closed at $27.27, but opened at $25.40. Q2 shares last traded at $21.89, with a volume of 622,730 shares.

Analyst Upgrades and Downgrades

Several brokerages have commented on QTWO. Piper Sandler lowered their price objective on shares of Q2 from $26.00 to $20.00 in a report on Tuesday. Stephens lowered their price objective on shares of Q2 from $38.00 to $32.00 and set an “equal weight” rating for the company in a report on Wednesday, February 22nd. DA Davidson raised their price objective on shares of Q2 from $36.00 to $38.00 and gave the stock a “buy” rating in a report on Tuesday, February 28th. Canaccord Genuity Group restated a “buy” rating and issued a $60.00 price objective on shares of Q2 in a report on Wednesday, February 22nd. Finally, Robert W. Baird lowered shares of Q2 from an “outperform” rating to a “neutral” rating and set a $32.00 price objective for the company. in a report on Tuesday, January 31st. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat, Q2 presently has a consensus rating of “Hold” and a consensus target price of $45.38.

Q2 Stock Up 14.9 %

The company has a current ratio of 2.77, a quick ratio of 2.77 and a debt-to-equity ratio of 1.57. The company’s 50-day moving average is $31.59 and its two-hundred day moving average is $30.85.

Q2 (NYSE:QTWO – Get Rating) last announced its quarterly earnings results on Tuesday, February 21st. The technology company reported ($0.23) earnings per share for the quarter, missing the consensus estimate of ($0.13) by ($0.10). The firm had revenue of $146.54 million for the quarter, compared to the consensus estimate of $149.17 million. Q2 had a negative net margin of 19.27% and a negative return on equity of 11.58%. On average, sell-side analysts anticipate that Q2 Holdings, Inc. will post -0.72 EPS for the current fiscal year.

Insider Activity at Q2

In other Q2 news, CFO David J. Mehok sold 3,451 shares of Q2 stock in a transaction that occurred on Monday, March 6th. The shares were sold at an average price of $32.06, for a total value of $110,639.06. Following the completion of the sale, the chief financial officer now owns 178,449 shares of the company’s stock, valued at approximately $5,721,074.94. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In other news, CRO Michael A. Volanoski sold 2,548 shares of the business’s stock in a transaction on Monday, March 6th. The shares were sold at an average price of $32.05, for a total transaction of $81,663.40. Following the completion of the sale, the executive now owns 205,862 shares of the company’s stock, valued at approximately $6,597,877.10. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CFO David J. Mehok sold 3,451 shares of the business’s stock in a transaction on Monday, March 6th. The shares were sold at an average price of $32.06, for a total transaction of $110,639.06. Following the sale, the chief financial officer now directly owns 178,449 shares of the company’s stock, valued at approximately $5,721,074.94. The disclosure for this sale can be found here. Insiders sold 87,671 shares of company stock valued at $2,810,532 over the last 90 days. Corporate insiders own 3.50% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the company. EJF Capital LLC purchased a new stake in Q2 in the 3rd quarter worth $1,047,000. Edgestream Partners L.P. purchased a new stake in Q2 in the 3rd quarter worth $769,000. Essex Investment Management Co. LLC lifted its stake in Q2 by 53.5% in the 2nd quarter. Essex Investment Management Co. LLC now owns 6,599 shares of the technology company’s stock worth $255,000 after purchasing an additional 2,299 shares in the last quarter. Ergoteles LLC increased its holdings in shares of Q2 by 801.0% in the 3rd quarter. Ergoteles LLC now owns 85,244 shares of the technology company’s stock worth $2,745,000 after buying an additional 75,783 shares during the last quarter. Finally, Fred Alger Management LLC increased its holdings in shares of Q2 by 0.5% in the 3rd quarter. Fred Alger Management LLC now owns 2,139,124 shares of the technology company’s stock worth $68,880,000 after buying an additional 11,696 shares during the last quarter.

About Q2

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Q2 Holdings, Inc engages in the provision of digital banking and lending solutions. It offers its solutions to financial institutions, financial technology companies, alternative finance companies, and other innovative companies, wishing to incorporate banking into their customer engagement and servicing strategies.