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

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

A number of other equities research analysts also recently weighed in on QTWO. Robert W. Baird downgraded Q2 from an outperform rating to a neutral rating and set a $32.00 price objective on the stock. in a report on Tuesday, January 31st. StockNews.com upgraded shares of Q2 from a sell rating to a hold rating in a research report on Saturday, November 19th. DA Davidson boosted their price objective on shares of Q2 from $36.00 to $38.00 and gave the stock a buy rating in a research report on Tuesday, February 28th. Piper Sandler dropped their target price on shares of Q2 from $26.00 to $20.00 and set an underweight rating for the company in a research report on Tuesday, March 14th. Finally, Needham & Company LLC upped their target price on shares of Q2 from $35.00 to $38.00 and gave the company a buy rating in a research report on Wednesday, February 22nd. One investment analyst has rated the stock with a sell rating, six have given a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat, Q2 currently has an average rating of Hold and an average target price of $42.69.

Q2 Price Performance

Shares of NYSE:QTWO opened at $22.92 on Wednesday. Q2 has a 1 year low of $18.91 and a 1 year high of $65.65. The business has a fifty day simple moving average of $31.31 and a 200 day simple moving average of $30.56. The company has a current ratio of 2.77, a quick ratio of 2.77 and a debt-to-equity ratio of 1.57. The firm has a market cap of $1.32 billion, a price-to-earnings ratio of -12.13 and a beta of 1.48.

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

Insiders Place Their Bets

In other Q2 news, CFO David J. Mehok sold 3,451 shares of the business’s stock in a transaction dated Monday, March 6th. The shares were sold at an average price of $32.06, for a total transaction of $110,639.06. Following the sale, the chief financial officer now directly owns 178,449 shares of the company’s stock, valued at approximately $5,721,074.94. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In other news, CFO David J. Mehok sold 3,451 shares of the company’s stock in a transaction dated Monday, March 6th. The shares were sold at an average price of $32.06, for a total value of $110,639.06. Following the sale, the chief financial officer now directly owns 178,449 shares of the company’s stock, valued at approximately $5,721,074.94. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, 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 completion of the sale, the executive now directly owns 205,862 shares in the company, valued at $6,597,877.10. The disclosure for this sale can be found here. Insiders have sold 87,671 shares of company stock valued at $2,810,532 in the last three months. 3.50% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the stock. EJF Capital LLC acquired a new stake in shares of Q2 during the 3rd quarter worth approximately $1,047,000. Edgestream Partners L.P. acquired a new stake in Q2 in the third quarter valued at approximately $769,000. Essex Investment Management Co. LLC boosted its position in Q2 by 53.5% in the second quarter. Essex Investment Management Co. LLC now owns 6,599 shares of the technology company’s stock valued at $255,000 after buying an additional 2,299 shares in the last quarter. Ergoteles LLC boosted its position in Q2 by 801.0% in the third quarter. Ergoteles LLC now owns 85,244 shares of the technology company’s stock valued at $2,745,000 after buying an additional 75,783 shares in the last quarter. Finally, Fred Alger Management LLC raised its stake in shares of Q2 by 0.5% during the third quarter. Fred Alger Management LLC now owns 2,139,124 shares of the technology company’s stock valued at $68,880,000 after acquiring an additional 11,696 shares during 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.