Q2 (NYSE:QTWO) Shares Gap Down – Here’s What Happened

Q2 Holdings, Inc. (NYSE:QTWO) gapped down prior to trading on Wednesday . The stock had previously closed at $80.65, but opened at $78.54. Q2 shares last traded at $79.60, with a volume of 188,576 shares.

Analyst Upgrades and Downgrades

Several analysts have commented on the stock. Stifel Nicolaus upped their target price on shares of Q2 from $115.00 to $125.00 and gave the company a “buy” rating in a research report on Thursday, February 13th. Citigroup upped their price target on shares of Q2 from $96.00 to $100.00 and gave the company a “neutral” rating in a research note on Thursday, February 13th. Truist Financial reissued a “buy” rating and set a $110.00 price target (up previously from $100.00) on shares of Q2 in a report on Thursday, February 13th. Piper Sandler raised their price objective on Q2 from $74.00 to $93.00 and gave the company a “neutral” rating in a research note on Thursday, November 7th. Finally, Robert W. Baird reiterated a “neutral” rating and set a $99.00 price target (up from $89.00) on shares of Q2 in a report on Friday, January 10th. Seven investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $105.27.

Q2 Stock Performance

The business’s fifty day simple moving average is $94.11 and its 200-day simple moving average is $90.17. The company has a debt-to-equity ratio of 0.58, a quick ratio of 1.40 and a current ratio of 1.40. The firm has a market capitalization of $4.91 billion, a PE ratio of -124.25 and a beta of 1.61.

Q2 (NYSE:QTWO) last released its earnings results on Wednesday, February 12th. The technology company reported $0.18 earnings per share for the quarter, missing the consensus estimate of $0.48 by ($0.30). Q2 had a positive return on equity of 0.85% and a negative net margin of 5.53%. As a group, equities research analysts expect that Q2 Holdings, Inc. will post 0.67 EPS for the current year.

Insider Activity

In related news, President Kirk L. Coleman sold 10,428 shares of the company’s stock in a transaction dated Thursday, December 12th. The shares were sold at an average price of $106.42, for a total value of $1,109,747.76. Following the completion of the sale, the president now owns 337,643 shares of the company’s stock, valued at approximately $35,931,968.06. This represents a 3.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director James Offerdahl sold 1,000 shares of Q2 stock in a transaction dated Monday, February 24th. The shares were sold at an average price of $87.96, for a total transaction of $87,960.00. Following the sale, the director now owns 17,241 shares of the company’s stock, valued at approximately $1,516,518.36. This represents a 5.48 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 29,288 shares of company stock worth $3,091,483 over the last 90 days. 3.00% of the stock is currently owned by corporate insiders.

Institutional Trading of Q2

A number of hedge funds and other institutional investors have recently made changes to their positions in QTWO. William Blair Investment Management LLC acquired a new position in shares of Q2 in the 4th quarter valued at $202,645,000. Massachusetts Financial Services Co. MA increased its stake in shares of Q2 by 107.9% during the fourth quarter. Massachusetts Financial Services Co. MA now owns 1,345,741 shares of the technology company’s stock worth $135,449,000 after acquiring an additional 698,464 shares during the period. Arrowstreet Capital Limited Partnership raised its holdings in Q2 by 732.2% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 745,404 shares of the technology company’s stock worth $75,025,000 after purchasing an additional 655,838 shares in the last quarter. Ameriprise Financial Inc. boosted its holdings in Q2 by 105.8% in the 4th quarter. Ameriprise Financial Inc. now owns 1,012,787 shares of the technology company’s stock valued at $101,937,000 after purchasing an additional 520,649 shares in the last quarter. Finally, Franklin Resources Inc. lifted its holdings in shares of Q2 by 893.5% in the 4th quarter. Franklin Resources Inc. now owns 471,523 shares of the technology company’s stock valued at $47,459,000 after buying an additional 424,062 shares during the period.

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.