Q2 (NYSE:QTWO) issued its quarterly earnings results on Tuesday. The technology company reported $0.05 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.01 by $0.04, Bloomberg Earnings reports. The company had revenue of $51.70 million for the quarter, compared to the consensus estimate of $51.70 million. Q2 had a negative return on equity of 20.50% and a negative net margin of 15.27%. Q2’s revenue for the quarter was up 22.5% on a year-over-year basis. During the same quarter in the prior year, the business posted ($0.03) earnings per share.
Q2 (NYSE:QTWO) traded up $0.55 during midday trading on Wednesday, hitting $43.75. The stock had a trading volume of 373,844 shares, compared to its average volume of 234,214. The stock has a market capitalization of $1,820.00, a P/E ratio of -63.41 and a beta of 1.59. Q2 has a 1-year low of $31.30 and a 1-year high of $44.70.
A number of equities analysts have issued reports on QTWO shares. SunTrust Banks reiterated a “buy” rating on shares of Q2 in a research report on Friday, November 3rd. Needham & Company LLC reiterated a “buy” rating and set a $48.00 price target on shares of Q2 in a research report on Friday, November 3rd. BidaskClub upgraded Q2 from a “hold” rating to a “buy” rating in a research report on Tuesday, November 14th. BTIG Research reiterated a “buy” rating and set a $47.00 price target on shares of Q2 in a research report on Sunday, November 5th. Finally, Morgan Stanley increased their price target on Q2 from $40.00 to $44.00 and gave the stock an “equal weight” rating in a research report on Friday, November 3rd. Seven analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. The company presently has an average rating of “Buy” and an average target price of $45.75.
In related news, EVP John E. Breeden sold 10,000 shares of the stock in a transaction that occurred on Friday, November 17th. The stock was sold at an average price of $43.14, for a total value of $431,400.00. Following the completion of the sale, the executive vice president now owns 64,694 shares of the company’s stock, valued at $2,790,899.16. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, SVP Barry G. Benton sold 1,425 shares of the stock in a transaction that occurred on Wednesday, January 31st. The shares were sold at an average price of $42.00, for a total value of $59,850.00. Following the completion of the sale, the senior vice president now directly owns 21,356 shares of the company’s stock, valued at approximately $896,952. The disclosure for this sale can be found here. In the last 90 days, insiders sold 120,011 shares of company stock worth $4,697,005. Company insiders own 24.50% of the company’s stock.
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Q2 Holdings, Inc is a provider of cloud-based digital banking solutions. The Company enables regional and community financial institutions (RCFIs), to deliver a suite of integrated digital banking services. The Company’s solutions all operate on a common platform that supports the delivery of unified digital banking services across online, mobile and voice channels.
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