Wall Street analysts predict that Q2 Holdings Inc (NYSE:QTWO) will announce $60.19 million in sales for the current quarter, according to Zacks Investment Research. Six analysts have issued estimates for Q2’s earnings. The highest sales estimate is $60.34 million and the lowest is $60.02 million. Q2 reported sales of $50.12 million in the same quarter last year, which would suggest a positive year over year growth rate of 20.1%. The firm is expected to announce its next earnings report after the market closes on Tuesday, November 6th.
On average, analysts expect that Q2 will report full-year sales of $238.75 million for the current fiscal year, with estimates ranging from $237.60 million to $239.20 million. For the next year, analysts forecast that the business will post sales of $296.15 million, with estimates ranging from $293.79 million to $300.66 million. Zacks Investment Research’s sales calculations are an average based on a survey of sell-side analysts that that provide coverage for Q2.
Q2 (NYSE:QTWO) last posted its quarterly earnings results on Tuesday, August 7th. The technology company reported $0.01 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.14) by $0.15. The company had revenue of $58.57 million during the quarter, compared to analyst estimates of $58.34 million. Q2 had a negative net margin of 12.07% and a negative return on equity of 14.66%.
QTWO has been the subject of several research reports. Stifel Nicolaus restated a “buy” rating and set a $68.00 price target on shares of Q2 in a research report on Thursday, August 9th. Royal Bank of Canada restated a “buy” rating and set a $65.00 price target on shares of Q2 in a research report on Thursday, August 9th. Loop Capital upped their price objective on shares of Q2 to $67.00 and gave the company an “in-line” rating in a report on Thursday, August 9th. Needham & Company LLC upped their price objective on shares of Q2 from $62.00 to $70.00 and gave the company a “buy” rating in a report on Thursday, August 9th. Finally, Craig Hallum set a $70.00 price objective on shares of Q2 and gave the company a “buy” rating in a report on Thursday, August 9th. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average price target of $61.00.
In other news, EVP John E. Breeden sold 7,500 shares of the stock in a transaction dated Friday, October 12th. The shares were sold at an average price of $50.33, for a total value of $377,475.00. Following the sale, the executive vice president now directly owns 70,247 shares of the company’s stock, valued at $3,535,531.51. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Jeffrey T. Diehl sold 1,000,000 shares of the stock in a transaction dated Thursday, August 16th. The stock was sold at an average price of $58.25, for a total transaction of $58,250,000.00. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 1,472,477 shares of company stock worth $86,758,418. Insiders own 17.90% of the company’s stock.
Institutional investors have recently made changes to their positions in the company. SG Americas Securities LLC purchased a new stake in shares of Q2 in the second quarter worth about $132,000. Dynamic Technology Lab Private Ltd purchased a new stake in shares of Q2 in the second quarter worth about $200,000. Brick & Kyle Associates purchased a new stake in shares of Q2 in the second quarter worth about $228,000. Trexquant Investment LP purchased a new stake in shares of Q2 in the second quarter worth about $267,000. Finally, Public Employees Retirement Association of Colorado purchased a new stake in shares of Q2 in the third quarter worth about $285,000. 93.17% of the stock is currently owned by hedge funds and other institutional investors.
QTWO opened at $51.80 on Tuesday. The stock has a market cap of $2.28 billion, a P/E ratio of -107.92 and a beta of 1.49. The company has a debt-to-equity ratio of 1.12, a current ratio of 6.00 and a quick ratio of 6.00. Q2 has a fifty-two week low of $36.25 and a fifty-two week high of $67.10.
Q2 Company Profile
Q2 Holdings, Inc provides cloud-based digital banking solutions to regional and community financial institutions (RCFIs) in the United States. It offers Q2online, a browser-based digital banking solution that delivers RCFI-branded digital banking capabilities; Q2 Sentinel, a security analytics solution; Q2 Corporate to support RCFIs to attract and retain larger commercial accounts; and Q2 SMART, a targeting and messaging platform.
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