Q2 (NYSE:QTWO) Sets New 52-Week Low – Here’s What Happened

Q2 Holdings, Inc. (NYSE:QTWO)’s stock price hit a new 52-week low on Wednesday . The stock traded as low as $45.62 and last traded at $46.1450, with a volume of 125015 shares changing hands. The stock had previously closed at $46.68.

Analysts Set New Price Targets

A number of research analysts have recently commented on the company. Wall Street Zen lowered Q2 from a “strong-buy” rating to a “buy” rating in a report on Saturday, March 7th. Weiss Ratings restated a “hold (c-)” rating on shares of Q2 in a research note on Thursday, January 22nd. JPMorgan Chase & Co. cut their target price on shares of Q2 from $100.00 to $75.00 and set an “overweight” rating for the company in a research note on Wednesday, February 18th. Stifel Nicolaus set a $75.00 price target on shares of Q2 in a report on Thursday, February 12th. Finally, Needham & Company LLC dropped their price objective on shares of Q2 from $90.00 to $70.00 and set a “buy” rating on the stock in a report on Thursday, February 12th. Eight research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the stock. Based on data from MarketBeat.com, Q2 currently has an average rating of “Moderate Buy” and a consensus price target of $79.29.

Q2 Price Performance

The business’s 50 day simple moving average is $55.27 and its 200 day simple moving average is $65.39. The stock has a market cap of $2.89 billion, a P/E ratio of 58.71 and a beta of 1.40.

Insiders Place Their Bets

In other Q2 news, General Counsel Michael S. Kerr sold 2,821 shares of the company’s stock in a transaction on Monday, March 9th. The stock was sold at an average price of $51.35, for a total value of $144,858.35. Following the sale, the general counsel directly owned 47,227 shares in the company, valued at $2,425,106.45. This represents a 5.64% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, COO Himagiri K. Mukkamala sold 1,343 shares of the stock in a transaction on Monday, March 9th. The stock was sold at an average price of $51.35, for a total value of $68,963.05. Following the transaction, the chief operating officer owned 92,910 shares of the company’s stock, valued at $4,770,928.50. This represents a 1.42% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 411,087 shares of company stock worth $20,702,472 over the last quarter. Corporate insiders own 3.00% of the company’s stock.

Hedge Funds Weigh In On Q2

Institutional investors have recently added to or reduced their stakes in the company. Headlands Technologies LLC bought a new stake in Q2 during the second quarter worth about $26,000. Measured Wealth Private Client Group LLC acquired a new position in shares of Q2 in the 3rd quarter worth approximately $26,000. Caitong International Asset Management Co. Ltd acquired a new position in shares of Q2 in the 4th quarter worth approximately $27,000. Cullen Frost Bankers Inc. bought a new stake in Q2 during the 3rd quarter worth approximately $27,000. Finally, Salomon & Ludwin LLC acquired a new stake in Q2 during the 3rd quarter valued at $30,000.

About Q2

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.