Q2 (NYSE:QTWO) Sets New 52-Week High – Should You Buy?

Shares of Q2 Holdings, Inc. (NYSE:QTWO) reached a new 52-week high during mid-day trading on Monday . The company traded as high as $84.84 and last traded at $84.28, with a volume of 124080 shares trading hands. The stock had previously closed at $83.36.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on the stock. DA Davidson reissued a “neutral” rating and set a $76.00 target price on shares of Q2 in a research note on Monday, September 30th. Compass Point assumed coverage on Q2 in a research report on Wednesday, September 4th. They issued a “buy” rating and a $91.00 target price on the stock. The Goldman Sachs Group upped their price objective on shares of Q2 from $59.00 to $86.00 and gave the stock a “buy” rating in a report on Thursday, August 1st. Royal Bank of Canada reaffirmed a “sector perform” rating on shares of Q2 in a research report on Friday, October 18th. Finally, Needham & Company LLC reaffirmed an “underperform” rating on shares of Q2 in a research note on Friday, October 18th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and eight have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $73.64.

Q2 Trading Up 0.6 %

The company has a quick ratio of 2.44, a current ratio of 2.44 and a debt-to-equity ratio of 1.02. The business has a 50-day moving average price of $77.77 and a 200-day moving average price of $67.47. The firm has a market capitalization of $5.14 billion, a P/E ratio of -73.89 and a beta of 1.59.

Q2 (NYSE:QTWO) last released its quarterly earnings results on Wednesday, July 31st. The technology company reported ($0.06) EPS 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 firm had revenue of $172.89 million during the quarter, compared to analyst estimates of $170.67 million. Analysts anticipate that Q2 Holdings, Inc. will post -0.01 earnings per share for the current year.

Insider Transactions at Q2

In other news, CRO Michael A. Volanoski sold 1,428 shares of the firm’s 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 transaction, the executive now owns 227,672 shares of the company’s stock, valued at approximately $16,376,446.96. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In other news, Director Jeffrey T. Diehl sold 28,005 shares of the stock in a transaction that occurred on 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 completion of the sale, the director now owns 397,702 shares of the company’s stock, valued at approximately $29,927,075.50. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CRO Michael A. Volanoski sold 1,428 shares of the firm’s stock in a transaction that occurred on 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 sale, the executive now directly owns 227,672 shares of the company’s stock, valued at approximately $16,376,446.96. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 41,963 shares of company stock worth $3,109,699 over the last 90 days. 3.00% of the stock is owned by insiders.

Hedge Funds Weigh In On Q2

A number of hedge funds have recently bought and sold shares of QTWO. Hood River Capital Management LLC acquired a new position in Q2 in the 1st quarter valued at $62,765,000. American Century Companies Inc. increased its holdings in Q2 by 5,990.6% in the 2nd quarter. American Century Companies Inc. now owns 1,210,143 shares of the technology company’s stock valued at $73,008,000 after buying an additional 1,190,274 shares during the period. Perpetual Ltd acquired a new position in shares of Q2 in the 3rd quarter valued at approximately $80,788,000. Price T Rowe Associates Inc. MD lifted its holdings in shares of Q2 by 1,910.0% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 719,767 shares of the technology company’s stock worth $37,832,000 after acquiring an additional 683,957 shares during the period. Finally, Mesirow Institutional Investment Management Inc. acquired a new stake in shares of Q2 during the 1st quarter worth approximately $19,101,000.

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.