Wall Street analysts expect Q2 Holdings Inc (NYSE:QTWO) to post $79.21 million in sales for the current fiscal quarter, Zacks Investment Research reports. Seven analysts have provided estimates for Q2’s earnings. The highest sales estimate is $79.50 million and the lowest is $78.89 million. Q2 posted sales of $60.54 million during the same quarter last year, which suggests a positive year over year growth rate of 30.8%. The company is expected to announce its next quarterly earnings results on Tuesday, November 5th.

According to Zacks, analysts expect that Q2 will report full year sales of $313.61 million for the current financial year, with estimates ranging from $311.30 million to $315.00 million. For the next financial year, analysts forecast that the firm will report sales of $385.68 million, with estimates ranging from $380.07 million to $392.72 million. Zacks’ sales calculations are an average based on a survey of sell-side analysts that follow Q2.

Q2 (NYSE:QTWO) last posted its earnings results on Wednesday, August 7th. The technology company reported ($0.20) earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.21) by $0.01. The firm had revenue of $77.60 million during the quarter, compared to analyst estimates of $76.10 million. Q2 had a negative return on equity of 18.28% and a negative net margin of 20.73%. The company’s revenue for the quarter was up 32.0% on a year-over-year basis. During the same period in the previous year, the company earned $0.01 EPS.

A number of analysts have recently issued reports on QTWO shares. Zacks Investment Research upgraded Q2 from a “sell” rating to a “hold” rating in a research report on Saturday. Compass Point began coverage on Q2 in a research report on Tuesday. They issued a “buy” rating and a $105.00 price target on the stock. Royal Bank of Canada upped their price target on Q2 from $79.00 to $94.00 and gave the company an “outperform” rating in a research report on Thursday, August 8th. Wells Fargo & Co upped their price target on Q2 from $75.00 to $80.00 and gave the company an “outperform” rating in a research report on Thursday, May 9th. Finally, Craig Hallum reiterated a “buy” rating and issued a $85.00 price target (up from $80.00) on shares of Q2 in a research report on Thursday, May 9th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and twelve have given a buy rating to the company. The stock presently has a consensus rating of “Buy” and an average price target of $79.75.

In other Q2 news, insider William M. Furrer sold 13,301 shares of the business’s stock in a transaction that occurred on Monday, July 1st. The stock was sold at an average price of $76.18, for a total transaction of $1,013,270.18. Following the completion of the sale, the insider now directly owns 81,643 shares of the company’s stock, valued at approximately $6,219,563.74. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Jennifer Noel Harris sold 15,000 shares of the business’s stock in a transaction that occurred on Monday, June 10th. The stock was sold at an average price of $70.22, for a total value of $1,053,300.00. Following the sale, the chief financial officer now directly owns 129,865 shares of the company’s stock, valued at $9,119,120.30. The disclosure for this sale can be found here. Insiders sold a total of 480,537 shares of company stock worth $35,941,718 over the last three months. 12.80% of the stock is owned by company insiders.

A number of institutional investors and hedge funds have recently modified their holdings of QTWO. Brown Capital Management LLC grew its holdings in shares of Q2 by 26.2% in the second quarter. Brown Capital Management LLC now owns 4,003,706 shares of the technology company’s stock valued at $305,723,000 after acquiring an additional 832,296 shares in the last quarter. Norges Bank purchased a new position in Q2 in the fourth quarter valued at approximately $25,818,000. Wasatch Advisors Inc. lifted its stake in Q2 by 39.2% in the first quarter. Wasatch Advisors Inc. now owns 1,043,133 shares of the technology company’s stock valued at $72,247,000 after purchasing an additional 293,892 shares during the last quarter. First Trust Advisors LP lifted its stake in Q2 by 480.8% in the second quarter. First Trust Advisors LP now owns 306,783 shares of the technology company’s stock valued at $23,426,000 after purchasing an additional 253,966 shares during the last quarter. Finally, Mitsubishi UFJ Trust & Banking Corp purchased a new position in Q2 in the second quarter valued at approximately $15,491,000. 99.30% of the stock is owned by hedge funds and other institutional investors.

Shares of QTWO traded up $3.50 on Thursday, reaching $89.69. 583,483 shares of the stock traded hands, compared to its average volume of 416,870. The firm has a market cap of $3.85 billion, a price-to-earnings ratio of -242.41 and a beta of 1.38. The company has a debt-to-equity ratio of 1.40, a quick ratio of 2.08 and a current ratio of 2.08. Q2 has a 12 month low of $43.41 and a 12 month high of $89.73. The stock’s 50-day moving average is $79.47.

About Q2

Q2 Holdings, Inc provides cloud-based digital banking solutions to regional and community financial institutions (RCFIs) in the United States. It offers Q2 Digital Banking and Transactions, a browser-based digital banking solution that delivers RCFI-branded digital banking capabilities; Q2mobility App, a mobile and tablet digital banking solution; Q2mobile Remote Deposit Capture, a partnered solution that allows remote check deposit capture; and Q2 Person-to-Person Payments, a partnered secure and integrated person-to-person payments solution.

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