$49.98 Million in Sales Expected for Q2 Holdings, Inc. (QTWO) This Quarter
Equities analysts forecast that Q2 Holdings, Inc. (NYSE:QTWO) will post sales of $49.98 million for the current fiscal quarter, Zacks Investment Research reports. Six analysts have issued estimates for Q2 Holdings’ earnings, with estimates ranging from $49.69 million to $50.10 million. Q2 Holdings reported sales of $38.31 million in the same quarter last year, which would suggest a positive year-over-year growth rate of 30.5%. The company is scheduled to announce its next earnings report on Wednesday, November 1st.
On average, analysts expect that Q2 Holdings will report full-year sales of $49.98 million for the current financial year, with estimates ranging from $193.36 million to $195.00 million. For the next fiscal year, analysts forecast that the business will report sales of $244.53 million per share, with estimates ranging from $243.37 million to $246.55 million. Zacks’ sales averages are an average based on a survey of sell-side research firms that cover Q2 Holdings.
QTWO has been the topic of a number of recent analyst reports. BTIG Research upgraded shares of Q2 Holdings from a “neutral” rating to a “buy” rating and set a $47.00 target price on the stock in a research note on Monday, May 15th. Zacks Investment Research cut shares of Q2 Holdings from a “buy” rating to a “hold” rating in a research note on Thursday, August 10th. Canaccord Genuity restated a “buy” rating and set a $43.00 target price on shares of Q2 Holdings in a research note on Tuesday, August 1st. SunTrust Banks, Inc. initiated coverage on shares of Q2 Holdings in a research note on Monday, June 26th. They set a “buy” rating and a $45.00 target price on the stock. Finally, Needham & Company LLC restated a “buy” rating and set a $44.00 target price (up previously from $42.00) on shares of Q2 Holdings in a research note on Friday, May 5th. Two investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. The stock has an average rating of “Buy” and an average price target of $42.13.
In related news, insider William M. Furrer sold 13,771 shares of the firm’s stock in a transaction on Wednesday, May 24th. The shares were sold at an average price of $39.92, for a total value of $549,738.32. Following the completion of the transaction, the insider now directly owns 53,280 shares of the company’s stock, valued at $2,126,937.60. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director R. H. Seale sold 85,000 shares of the firm’s stock in a transaction on Friday, July 7th. The shares were sold at an average price of $36.85, for a total transaction of $3,132,250.00. Following the completion of the transaction, the director now directly owns 383,903 shares of the company’s stock, valued at $14,146,825.55. The disclosure for this sale can be found here. Over the last three months, insiders sold 381,777 shares of company stock valued at $14,518,509. 24.50% of the stock is currently owned by insiders.
Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Dubuque Bank & Trust Co. acquired a new position in Q2 Holdings during the second quarter worth $102,000. Ameritas Investment Partners Inc. raised its position in Q2 Holdings by 38.1% in the second quarter. Ameritas Investment Partners Inc. now owns 2,751 shares of the technology company’s stock valued at $102,000 after buying an additional 759 shares during the last quarter. SG Americas Securities LLC purchased a new position in Q2 Holdings during the first quarter valued at approximately $109,000. Oppenheimer Asset Management Inc. raised its position in Q2 Holdings by 16,455.6% in the second quarter. Oppenheimer Asset Management Inc. now owns 2,980 shares of the technology company’s stock valued at $110,000 after buying an additional 2,962 shares during the last quarter. Finally, Pacad Investment Ltd. purchased a new position in Q2 Holdings during the second quarter valued at approximately $111,000. 91.08% of the stock is owned by hedge funds and other institutional investors.
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Shares of Q2 Holdings (QTWO) opened at 37.70 on Thursday. The company’s market cap is $1.56 billion. Q2 Holdings has a 52-week low of $25.23 and a 52-week high of $40.50. The stock has a 50 day moving average of $37.95 and a 200 day moving average of $36.87.
Q2 Holdings Company Profile
Q2 Holdings, Inc is a provider of cloud-based digital banking solutions. The Company enables regional and community financial institutions (RCFIs), to deliver a suite of integrated digital banking services. The Company’s solutions all operate on a common platform that supports the delivery of unified digital banking services across online, mobile and voice channels.
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