$79.21 Million in Sales Expected for Q2 Holdings Inc (NYSE:QTWO) This Quarter

Equities analysts forecast that Q2 Holdings Inc (NYSE:QTWO) will post $79.21 million in sales for the current quarter, Zacks Investment Research reports. Seven analysts have provided estimates for Q2’s earnings, with estimates ranging from $78.89 million to $79.50 million. Q2 posted sales of $60.54 million in the same quarter last year, which would indicate a positive year over year growth rate of 30.8%. The business is scheduled to issue its next 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 year, with estimates ranging from $311.30 million to $315.00 million. For the next year, analysts forecast that the company will report sales of $385.68 million, with estimates ranging from $380.07 million to $392.72 million. Zacks’ sales averages are an average based on a survey of sell-side research firms that follow Q2.

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

QTWO has been the subject of a number of recent research reports. Royal Bank of Canada boosted their price objective on shares of Q2 from $79.00 to $94.00 and gave the company an “outperform” rating in a research report on Thursday, August 8th. Zacks Investment Research raised shares of Q2 from a “sell” rating to a “hold” rating in a report on Saturday. SunTrust Banks upped their target price on shares of Q2 from $84.00 to $100.00 and gave the stock a “buy” rating in a report on Friday. Craig Hallum reaffirmed a “buy” rating and issued a $85.00 target price (up previously from $80.00) on shares of Q2 in a report on Thursday, May 9th. Finally, JPMorgan Chase & Co. upped their target price on shares of Q2 from $78.00 to $90.00 and gave the stock an “overweight” rating in a report on Thursday, August 8th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and twelve have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus target price of $79.75.

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

In other news, SVP Barry G. Benton sold 3,469 shares of the stock in a transaction that occurred on Wednesday, July 10th. The shares were sold at an average price of $80.00, for a total transaction of $277,520.00. Following the transaction, the senior vice president now directly owns 40,493 shares in the company, valued at $3,239,440. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, insider Adam D. Blue sold 15,000 shares of the stock in a transaction that occurred on Friday, May 24th. The shares were sold at an average price of $73.38, for a total transaction of $1,100,700.00. Following the transaction, the insider now owns 81,442 shares in the company, valued at $5,976,213.96. The disclosure for this sale can be found here. Insiders have sold a total of 480,537 shares of company stock worth $35,941,718 over the last 90 days. Corporate insiders own 12.80% of the company’s stock.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in QTWO. Prescott Group Capital Management L.L.C. grew its holdings in shares of Q2 by 3.1% in the second quarter. Prescott Group Capital Management L.L.C. now owns 4,125 shares of the technology company’s stock valued at $315,000 after purchasing an additional 125 shares in the last quarter. Valeo Financial Advisors LLC raised its stake in shares of Q2 by 67.4% during the second quarter. Valeo Financial Advisors LLC now owns 385 shares of the technology company’s stock valued at $29,000 after purchasing an additional 155 shares during the period. First Mercantile Trust Co. raised its stake in shares of Q2 by 7.1% during the first quarter. First Mercantile Trust Co. now owns 8,205 shares of the technology company’s stock valued at $568,000 after purchasing an additional 547 shares during the period. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. purchased a new stake in shares of Q2 during the second quarter valued at approximately $42,000. Finally, Tortoise Index Solutions LLC purchased a new stake in shares of Q2 during the first quarter valued at approximately $39,000. Hedge funds and other institutional investors own 99.30% of the company’s stock.

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.

Further Reading: Average Daily Trade Volume Explained

Get a free copy of the Zacks research report on Q2 (QTWO)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Receive News & Ratings for Q2 Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Q2 and related companies with MarketBeat.com's FREE daily email newsletter.