Q2 (NYSE:QTWO) Share Price Passes Below 200 Day Moving Average – Here’s Why

Q2 Holdings, Inc. (NYSE:QTWO) crossed below its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $55.92 and traded as low as $42.47. Q2 shares last traded at $42.8950, with a volume of 1,173,311 shares changing hands.

Analysts Set New Price Targets

QTWO has been the topic of a number of recent analyst reports. Weiss Ratings restated a “hold (c-)” rating on shares of Q2 in a report on Tuesday, April 21st. UBS Group set a $77.00 price target on shares of Q2 in a research report on Thursday, April 30th. Stifel Nicolaus set a $70.00 price target on shares of Q2 in a research note on Thursday, April 30th. Zacks Research downgraded shares of Q2 from a “strong-buy” rating to a “hold” rating in a research report on Monday, March 16th. Finally, DA Davidson restated a “buy” rating and set a $82.00 price objective on shares of Q2 in a research note on Monday, June 1st. Seven analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $75.27.

Q2 Trading Down 2.0%

The business’s 50 day moving average price is $47.48 and its 200-day moving average price is $55.92. The company has a market cap of $2.69 billion, a price-to-earnings ratio of 38.30 and a beta of 1.34.

Q2 (NYSE:QTWO) last announced its quarterly earnings results on Wednesday, April 29th. The technology company reported $0.63 EPS for the quarter, missing analysts’ consensus estimates of $0.71 by ($0.08). Q2 had a net margin of 8.99% and a return on equity of 14.68%. The company had revenue of $216.51 million during the quarter, compared to analyst estimates of $214.40 million. During the same quarter last year, the company posted $0.07 EPS. The firm’s quarterly revenue was up 14.1% on a year-over-year basis. Equities research analysts forecast that Q2 Holdings, Inc. will post 1.57 EPS for the current fiscal year.

Institutional Investors Weigh In On Q2

A number of institutional investors have recently made changes to their positions in the company. Root Financial Partners LLC acquired a new stake in Q2 during the 1st quarter worth approximately $25,000. Headlands Technologies LLC bought a new position in Q2 during the 2nd quarter worth $26,000. Measured Wealth Private Client Group LLC acquired a new stake in shares of Q2 during the third quarter worth $26,000. Caitong International Asset Management Co. Ltd acquired a new stake in shares of Q2 during the fourth quarter worth $27,000. Finally, Optiver Holding B.V. lifted its holdings in shares of Q2 by 1,578.9% during the first quarter. Optiver Holding B.V. now owns 638 shares of the technology company’s stock worth $30,000 after buying an additional 600 shares in the last quarter.

Q2 Company Profile

Q2 Holdings, Inc develops and delivers cloud-based digital banking solutions that enable banks and credit unions to enhance customer and member experiences. The company’s core offerings include the Q2 Platform, a comprehensive suite of online and mobile banking applications for retail and commercial customers, as well as digital onboarding, payments, and fraud prevention tools. Q2’s platform also provides analytics and reporting capabilities designed to help financial institutions tailor products, optimize workflows, and drive engagement.

Founded in 2004 and headquartered in Austin, Texas, Q2 serves hundreds of financial institutions across the United States and Canada.