Q2 (NYSE:QTWO) Stock Price Down 6.2% – Here’s Why

Q2 Holdings, Inc. (NYSE:QTWO)’s stock price traded down 6.2% during trading on Friday . The company traded as low as $91.76 and last traded at $93.62. 110,811 shares were traded during trading, a decline of 75% from the average session volume of 434,640 shares. The stock had previously closed at $99.84.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on QTWO. KeyCorp raised Q2 from a “sector weight” rating to an “overweight” rating and set a $126.00 price objective for the company in a research note on Wednesday, December 18th. Truist Financial reiterated a “buy” rating and set a $100.00 price target (up from $78.00) on shares of Q2 in a research note on Thursday, November 7th. Compass Point raised their price objective on shares of Q2 from $91.00 to $107.00 and gave the company a “buy” rating in a research note on Thursday, November 7th. The Goldman Sachs Group upped their target price on shares of Q2 from $86.00 to $103.00 and gave the stock a “buy” rating in a research note on Thursday, November 7th. Finally, Morgan Stanley raised their price target on shares of Q2 from $65.00 to $90.00 and gave the company an “equal weight” rating in a research report on Thursday, November 7th. Six research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $98.07.

Q2 Stock Performance

The stock has a market cap of $5.48 billion, a PE ratio of -94.53 and a beta of 1.61. The company has a debt-to-equity ratio of 0.99, a current ratio of 2.50 and a quick ratio of 2.50. The firm has a 50 day moving average of $102.21 and a two-hundred day moving average of $82.91.

Insider Activity at Q2

In related news, President Kirk L. Coleman sold 10,428 shares of the firm’s stock in a transaction that occurred on Thursday, December 12th. The stock was sold at an average price of $106.42, for a total transaction of $1,109,747.76. Following the transaction, the president now owns 337,643 shares in the company, valued at $35,931,968.06. This trade represents a 3.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CRO Michael A. Volanoski sold 5,123 shares of the stock in a transaction that occurred on Thursday, December 12th. The shares were sold at an average price of $106.12, for a total value of $543,652.76. Following the completion of the sale, the executive now directly owns 218,371 shares of the company’s stock, valued at $23,173,530.52. The trade was a 2.29 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 28,836 shares of company stock valued at $3,061,035 in the last ninety days. Insiders own 3.00% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of QTWO. Quarry LP raised its stake in shares of Q2 by 988.2% during the third quarter. Quarry LP now owns 370 shares of the technology company’s stock worth $30,000 after purchasing an additional 336 shares during the last quarter. CWM LLC lifted its stake in shares of Q2 by 199.8% in the 3rd quarter. CWM LLC now owns 1,442 shares of the technology company’s stock worth $115,000 after acquiring an additional 961 shares during the period. International Assets Investment Management LLC boosted its holdings in shares of Q2 by 7,878.3% in the third quarter. International Assets Investment Management LLC now owns 1,835 shares of the technology company’s stock valued at $146,000 after acquiring an additional 1,812 shares in the last quarter. Asset Management One Co. Ltd. increased its stake in shares of Q2 by 108.1% during the third quarter. Asset Management One Co. Ltd. now owns 1,856 shares of the technology company’s stock worth $148,000 after acquiring an additional 964 shares during the period. Finally, Quest Partners LLC purchased a new position in Q2 during the second quarter worth about $153,000.

Q2 Company Profile

Q2 Holdings, Inc provides cloud-based digital solutions to regional and community financial institutions in the United States. The company offers Digital Banking Platform, an end-to-end digital banking platform supports its financial institution customers in their delivery of unified digital banking services across digital channels.