Q2 (NYSE:QTWO) Downgraded to “Neutral” at Citigroup

Citigroup cut shares of Q2 (NYSE:QTWO) from a buy rating to a neutral rating in a research note published on Friday morning, Marketbeat.com reports. Citigroup currently has $90.00 price target on the technology company’s stock, up from their previous price target of $72.00.

Several other equities analysts have also commented on the company. The Goldman Sachs Group upped their target price on Q2 from $59.00 to $86.00 and gave the company a “buy” rating in a research note on Thursday, August 1st. Compass Point began coverage on Q2 in a research report on Wednesday, September 4th. They issued a “buy” rating and a $91.00 target price for the company. Truist Financial reaffirmed a “buy” rating and issued a $78.00 target price (up previously from $68.00) on shares of Q2 in a research report on Thursday, August 1st. Royal Bank of Canada raised their price objective on Q2 from $60.00 to $76.00 and gave the company a “sector perform” rating in a research note on Thursday, August 1st. Finally, Stifel Nicolaus lifted their price target on Q2 from $65.00 to $85.00 and gave the stock a “buy” rating in a research note on Thursday, August 1st. One investment analyst has rated the stock with a sell rating, five have given a hold rating and eight have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Q2 currently has an average rating of “Moderate Buy” and an average target price of $73.64.

Q2 Stock Performance

NYSE QTWO opened at $82.31 on Friday. The company has a quick ratio of 2.44, a current ratio of 2.44 and a debt-to-equity ratio of 1.02. Q2 has a 52-week low of $28.91 and a 52-week high of $82.73. The business’s 50-day moving average price is $76.02 and its 200 day moving average price is $65.73. The firm has a market cap of $4.96 billion, a P/E ratio of -70.96 and a beta of 1.59.

Q2 (NYSE:QTWO) last announced its quarterly earnings data on Wednesday, July 31st. The technology company reported ($0.06) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.03) by ($0.03). Q2 had a negative net margin of 10.40% and a negative return on equity of 3.95%. The business had revenue of $172.89 million during the quarter, compared to analysts’ expectations of $170.67 million. On average, equities research analysts expect that Q2 will post -0.01 earnings per share for the current year.

Insider Transactions at Q2

In other Q2 news, General Counsel Michael S. Kerr sold 517 shares of the company’s stock in a transaction on Wednesday, September 11th. The shares were sold at an average price of $70.86, for a total transaction of $36,634.62. Following the sale, the general counsel now directly owns 61,130 shares of the company’s stock, valued at approximately $4,331,671.80. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other news, CRO Michael A. Volanoski sold 1,428 shares of the stock in a transaction dated Thursday, September 12th. The shares were sold at an average price of $71.93, for a total value of $102,716.04. Following the completion of the transaction, the executive now owns 227,672 shares of the company’s stock, valued at approximately $16,376,446.96. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, General Counsel Michael S. Kerr sold 517 shares of the stock in a transaction dated Wednesday, September 11th. The stock was sold at an average price of $70.86, for a total transaction of $36,634.62. Following the completion of the transaction, the general counsel now directly owns 61,130 shares of the company’s stock, valued at $4,331,671.80. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 41,963 shares of company stock valued at $3,109,699 over the last 90 days. 3.00% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in QTWO. Nordea Investment Management AB raised its holdings in Q2 by 45.2% during the 1st 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 last quarter. Jennison Associates LLC raised its stake in shares of Q2 by 14.6% during the 1st quarter. Jennison Associates LLC now owns 1,852,407 shares of the technology company’s stock worth $97,363,000 after purchasing an additional 235,582 shares during the period. DekaBank Deutsche Girozentrale raised its stake in shares of Q2 by 67.4% during the 1st 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 in the 3rd quarter valued at about $80,788,000. Finally, Oppenheimer & Co. Inc. bought a new stake in Q2 in the 1st quarter valued at about $1,055,000.

About Q2

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.