Q2 (NYSE:QTWO) Downgraded by Canaccord Genuity Group to Hold

Canaccord Genuity Group lowered shares of Q2 (NYSE:QTWO – Get Rating) from a buy rating to a hold rating in a report released on Wednesday morning, MarketBeat Ratings reports. They currently have $25.00 price objective on the technology company’s stock, down from their previous price objective of $60.00.

Other equities analysts have also recently issued research reports about the stock. StockNews.com raised shares of Q2 from a sell rating to a hold rating in a research note on Saturday, November 19th. Stephens lowered their price objective on shares of Q2 from $38.00 to $32.00 and set an equal weight rating for the company in a report on Wednesday, February 22nd. Needham & Company LLC boosted their price objective on shares of Q2 from $35.00 to $38.00 and gave the stock a buy rating in a report on Wednesday, February 22nd. DA Davidson upped their price target on shares of Q2 from $36.00 to $38.00 and gave the company a buy rating in a report on Tuesday, February 28th. Finally, Piper Sandler lowered their price target on shares of Q2 from $26.00 to $20.00 and set an underweight rating for the company in a report on Tuesday, March 14th. One investment analyst has rated the stock with a sell rating, six have given a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat.com, Q2 presently has an average rating of Hold and an average price target of $42.69.

Q2 Price Performance

QTWO opened at $22.92 on Wednesday. The company has a market capitalization of $1.32 billion, a price-to-earnings ratio of -12.13 and a beta of 1.48. The company has a quick ratio of 2.77, a current ratio of 2.77 and a debt-to-equity ratio of 1.57. The firm has a 50-day moving average price of $31.31 and a 200-day moving average price of $30.56. Q2 has a twelve month low of $18.91 and a twelve month high of $65.65.

Q2 (NYSE:QTWO – Get Rating) last posted its earnings results on Tuesday, February 21st. The technology company reported ($0.23) earnings per share for the quarter, missing the consensus estimate of ($0.13) by ($0.10). The business had revenue of $146.54 million during the quarter, compared to analysts’ expectations of $149.17 million. Q2 had a negative return on equity of 11.58% and a negative net margin of 19.27%. Equities analysts expect that Q2 will post -0.72 EPS for the current year.

Insider Activity at Q2

In other Q2 news, CRO Michael A. Volanoski sold 2,548 shares of the company’s stock in a transaction dated Monday, March 6th. The shares were sold at an average price of $32.05, for a total transaction of $81,663.40. Following the transaction, the executive now owns 205,862 shares in the company, valued at approximately $6,597,877.10. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In other news, COO John E. Breeden sold 17,004 shares of the stock in a transaction that occurred on Monday, March 6th. The shares were sold at an average price of $32.05, for a total value of $544,978.20. Following the transaction, the chief operating officer now owns 195,843 shares in the company, valued at approximately $6,276,768.15. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CRO Michael A. Volanoski sold 2,548 shares of the stock in a transaction that occurred on Monday, March 6th. The stock was sold at an average price of $32.05, for a total transaction of $81,663.40. Following the completion of the transaction, the executive now owns 205,862 shares in the company, valued at approximately $6,597,877.10. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 87,671 shares of company stock valued at $2,810,532. 3.50% of the stock is owned by insiders.

Hedge Funds Weigh In On Q2

Several institutional investors have recently made changes to their positions in QTWO. Canada Pension Plan Investment Board bought a new stake in Q2 during the 1st quarter worth approximately $49,000. Quadrant Capital Group LLC raised its position in shares of Q2 by 175.7% during the fourth quarter. Quadrant Capital Group LLC now owns 1,191 shares of the technology company’s stock valued at $32,000 after buying an additional 759 shares during the last quarter. Captrust Financial Advisors grew its holdings in shares of Q2 by 370.8% in the second quarter. Captrust Financial Advisors now owns 1,243 shares of the technology company’s stock valued at $48,000 after purchasing an additional 979 shares in the last quarter. Harbor Investment Advisory LLC grew its holdings in shares of Q2 by 27.8% in the fourth quarter. Harbor Investment Advisory LLC now owns 1,427 shares of the technology company’s stock valued at $38,000 after purchasing an additional 310 shares in the last quarter. Finally, Lazard Asset Management LLC grew its holdings in shares of Q2 by 55.3% in the second quarter. Lazard Asset Management LLC now owns 1,537 shares of the technology company’s stock valued at $59,000 after purchasing an additional 547 shares in the last quarter.

Q2 Company Profile

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Q2 Holdings, Inc engages in the provision of digital banking and lending solutions. It offers its solutions to financial institutions, financial technology companies, alternative finance companies, and other innovative companies, wishing to incorporate banking into their customer engagement and servicing strategies.