Q2 (NYSE:QTWO) Announces Quarterly Earnings Results, Beats Expectations By $0.01 EPS

Q2 (NYSE:QTWO) posted its quarterly earnings data on Wednesday. The technology company reported ($0.03) earnings per share for the quarter, topping the consensus estimate of ($0.04) by $0.01, reports. The business had revenue of $175.02 million during the quarter, compared to the consensus estimate of $173.31 million. Q2 had a negative net margin of 8.40% and a negative return on equity of 2.34%. Q2 updated its FY 2024 guidance to EPS and its Q4 2024 guidance to EPS.

Q2 Trading Up 0.5 %

QTWO stock traded up $0.49 during mid-day trading on Friday, reaching $102.74. 842,640 shares of the stock traded hands, compared to its average volume of 593,743. The company has a current ratio of 2.44, a quick ratio of 2.44 and a debt-to-equity ratio of 1.02. Q2 has a 52-week low of $32.97 and a 52-week high of $105.00. The company has a market cap of $6.21 billion, a P/E ratio of -107.02 and a beta of 1.58. The stock’s fifty day moving average is $80.37 and its 200-day moving average is $69.44.

Insider Buying and Selling at Q2

In other news, Director Jeffrey T. Diehl sold 28,005 shares of the company’s stock in a transaction dated Monday, August 26th. The stock was sold at an average price of $75.25, for a total value of $2,107,376.25. Following the transaction, the director now owns 397,702 shares in the company, valued at $29,927,075.50. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other news, Director James Offerdahl sold 1,013 shares of the company’s stock in a transaction dated Wednesday, August 28th. The stock was sold at an average price of $73.97, for a total value of $74,931.61. Following the transaction, the director now owns 18,789 shares in the company, valued at $1,389,822.33. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Jeffrey T. Diehl sold 28,005 shares of the company’s stock in a transaction dated Monday, August 26th. The shares were sold at an average price of $75.25, for a total value of $2,107,376.25. Following the completion of the transaction, the director now owns 397,702 shares in the company, valued at $29,927,075.50. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 41,963 shares of company stock valued at $3,109,699. 3.00% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Q2

Hedge funds have recently added to or reduced their stakes in the company. Nordea Investment Management AB boosted its position in Q2 by 45.2% during the first quarter. Nordea Investment Management AB now owns 64,826 shares of the technology company’s stock worth $3,456,000 after purchasing an additional 20,195 shares during the period. DekaBank Deutsche Girozentrale boosted its position in Q2 by 67.4% during the first quarter. DekaBank Deutsche Girozentrale now owns 55,617 shares of the technology company’s stock worth $2,908,000 after purchasing an additional 22,400 shares during the period. Perpetual Ltd bought a new stake in Q2 during the third quarter worth approximately $80,788,000. Oppenheimer & Co. Inc. bought a new stake in Q2 during the first quarter worth approximately $1,055,000. Finally, Picton Mahoney Asset Management bought a new stake in Q2 during the first quarter worth approximately $5,591,000.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on QTWO shares. Citigroup downgraded shares of Q2 from a “buy” rating to a “neutral” rating and upped their price objective for the stock from $72.00 to $90.00 in a report on Friday, October 18th. Needham & Company LLC upped their price target on shares of Q2 from $90.00 to $120.00 and gave the company a “buy” rating in a report on Thursday. BTIG Research upped their price target on shares of Q2 from $75.00 to $82.00 and gave the company a “buy” rating in a report on Monday, August 26th. Truist Financial reissued a “buy” rating and issued a $100.00 price target (up from $78.00) on shares of Q2 in a report on Thursday. Finally, Piper Sandler upped their price target on shares of Q2 from $74.00 to $93.00 and gave the company a “neutral” rating in a report on Thursday. Five equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $90.79.

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.