$51.69 Million in Sales Expected for Q2 Holdings Inc (QTWO) This Quarter

Analysts expect Q2 Holdings Inc (NYSE:QTWO) to report sales of $51.69 million for the current quarter, according to Zacks Investment Research. Seven analysts have provided estimates for Q2’s earnings, with estimates ranging from $51.56 million to $51.80 million. Q2 reported sales of $42.16 million in the same quarter last year, which indicates a positive year over year growth rate of 22.6%. The firm is scheduled to announce its next quarterly earnings report after the market closes on Wednesday, February 14th.

According to Zacks, analysts expect that Q2 will report full year sales of $51.69 million for the current fiscal year, with estimates ranging from $193.84 million to $194.08 million. For the next financial year, analysts anticipate that the business will post sales of $240.44 million per share, with estimates ranging from $238.42 million to $242.60 million. Zacks’ sales averages are an average based on a survey of analysts that that provide coverage for Q2.

Q2 (NYSE:QTWO) last issued its quarterly earnings data on Wednesday, November 1st. The technology company reported $0.03 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.02) by $0.05. The business had revenue of $50.10 million for the quarter, compared to the consensus estimate of $50.05 million. Q2 had a negative return on equity of 20.50% and a negative net margin of 15.27%. The firm’s revenue was up 30.8% compared to the same quarter last year. During the same quarter last year, the business posted ($0.24) EPS.

Several brokerages have recently weighed in on QTWO. BidaskClub upgraded Q2 from a “hold” rating to a “buy” rating in a report on Tuesday, October 3rd. Needham & Company LLC restated a “buy” rating and issued a $48.00 price objective on shares of Q2 in a report on Friday, November 3rd. Loop Capital raised their price objective on Q2 from $42.00 to $49.00 and gave the company a “positive” rating in a report on Friday, November 3rd. SunTrust Banks reiterated a “buy” rating on shares of Q2 in a report on Friday, November 3rd. Finally, Zacks Investment Research upgraded Q2 from a “sell” rating to a “hold” rating in a report on Tuesday, October 10th. Seven equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. The company has a consensus rating of “Buy” and a consensus price target of $45.36.

Q2 (NYSE:QTWO) opened at $40.95 on Monday. Q2 has a 1-year low of $30.65 and a 1-year high of $44.35.

In other Q2 news, CFO Jennifer Noel Harris sold 10,000 shares of the company’s stock in a transaction dated Friday, December 1st. The shares were sold at an average price of $40.49, for a total value of $404,900.00. Following the completion of the sale, the chief financial officer now directly owns 74,575 shares of the company’s stock, valued at approximately $3,019,541.75. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Barry G. Benton sold 1,500 shares of the company’s stock in a transaction dated Monday, November 13th. The stock was sold at an average price of $42.69, for a total transaction of $64,035.00. Following the completion of the sale, the senior vice president now directly owns 23,487 shares of the company’s stock, valued at $1,002,660.03. The disclosure for this sale can be found here. Insiders have sold 940,086 shares of company stock worth $38,758,590 in the last quarter. Company insiders own 24.50% of the company’s stock.

Several institutional investors have recently added to or reduced their stakes in the company. Goldman Sachs Group Inc. grew its position in shares of Q2 by 1.1% during the 2nd quarter. Goldman Sachs Group Inc. now owns 67,332 shares of the technology company’s stock valued at $2,487,000 after acquiring an additional 701 shares during the period. Ameritas Investment Partners Inc. grew its position in shares of Q2 by 38.1% during the 2nd quarter. Ameritas Investment Partners Inc. now owns 2,751 shares of the technology company’s stock valued at $102,000 after acquiring an additional 759 shares during the period. Legal & General Group Plc lifted its stake in shares of Q2 by 19.7% during the 2nd quarter. Legal & General Group Plc now owns 7,256 shares of the technology company’s stock valued at $269,000 after buying an additional 1,195 shares in the last quarter. American International Group Inc. lifted its stake in shares of Q2 by 8.1% during the 3rd quarter. American International Group Inc. now owns 21,014 shares of the technology company’s stock valued at $875,000 after buying an additional 1,572 shares in the last quarter. Finally, Sei Investments Co. lifted its stake in shares of Q2 by 77.0% during the 3rd quarter. Sei Investments Co. now owns 6,296 shares of the technology company’s stock valued at $262,000 after buying an additional 2,739 shares in the last quarter. 91.47% of the stock is owned by hedge funds and other institutional investors.

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About Q2

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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