Q2 (QTWO)
Market Price (5/7/2026): $50.26 | Market Cap: $3.1 BilSector: Information Technology | Industry: Application Software
Q2 (QTWO)
Market Price (5/7/2026): $50.26Market Cap: $3.1 BilSector: Information TechnologyIndustry: Application Software
Investment Highlights Why It Matters Detailed financial logic regarding cash flow yields vs trend-riding momentum.
Attractive cash flow generationCFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is 26%, FCF/Rev LTMFree Cash Flow / Revenue (Sales), Last Twelve Months (LTM) is 22% Valuation becoming less expensiveP/S 6M Chg %Price/Sales change over 6 months. Declining P/S indicates valuation has become less expensive. is -34% Attractive yieldFCF Yield is 5.8% Low stock price volatilityVol 12M is 43% Megatrend and thematic driversMegatrends include Fintech & Digital Payments, and Cloud Computing. Themes include Online Banking & Lending, Wealth Management Technology, Show more. | Weak multi-year price returns2Y Excs Rtn is -51% | Significant share based compensationSBC/Rev LTMShare Based Compensation / Revenue (Sales), Last Twelve Months (LTM) is 10% Key risksQTWO key risks include [1] slower growth and elevated customer churn due to intense competitive pressures and bank consolidation, Show more. |
| Attractive cash flow generationCFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is 26%, FCF/Rev LTMFree Cash Flow / Revenue (Sales), Last Twelve Months (LTM) is 22% |
| Valuation becoming less expensiveP/S 6M Chg %Price/Sales change over 6 months. Declining P/S indicates valuation has become less expensive. is -34% |
| Attractive yieldFCF Yield is 5.8% |
| Low stock price volatilityVol 12M is 43% |
| Megatrend and thematic driversMegatrends include Fintech & Digital Payments, and Cloud Computing. Themes include Online Banking & Lending, Wealth Management Technology, Show more. |
| Weak multi-year price returns2Y Excs Rtn is -51% |
| Significant share based compensationSBC/Rev LTMShare Based Compensation / Revenue (Sales), Last Twelve Months (LTM) is 10% |
| Key risksQTWO key risks include [1] slower growth and elevated customer churn due to intense competitive pressures and bank consolidation, Show more. |
Qualitative Assessment
AI Analysis | Feedback
1. Q1 2026 Earnings Per Share Miss: Q2 Holdings reported its first-quarter 2026 financial results on April 29, 2026, with earnings per share (EPS) of $0.63, missing analyst consensus estimates of $0.71 by $0.08. While the company's revenue of $216.51 million surpassed estimates by 0.9% to 1.23%, the EPS miss likely contributed to negative investor sentiment.
2. Significant Insider Selling Activity: Over the three months leading up to mid-April 2026, Q2 Holdings insiders sold approximately $23 million worth of shares, with no reported insider buying. More specifically, in the 30 days prior to May 1, 2026, insiders sold a total of 153.93K shares valued at $7.94 million. This substantial selling by company insiders can signal a lack of confidence in the company's short-term prospects.
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Stock Movement Drivers
Fundamental Drivers
The -19.4% change in QTWO stock from 1/31/2026 to 5/6/2026 was primarily driven by a -65.5% change in the company's P/E Multiple.| (LTM values as of) | 1312026 | 5062026 | Change |
|---|---|---|---|
| Stock Price ($) | 61.25 | 49.34 | -19.4% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 770 | 822 | 6.7% |
| Net Income Margin (%) | 4.1% | 9.0% | 118.2% |
| P/E Multiple | 120.6 | 41.6 | -65.5% |
| Shares Outstanding (Mil) | 62 | 62 | 0.2% |
| Cumulative Contribution | -19.4% |
Market Drivers
1/31/2026 to 5/6/2026| Return | Correlation | |
|---|---|---|
| QTWO | -19.4% | |
| Market (SPY) | 3.6% | 34.3% |
| Sector (XLK) | 18.3% | 29.5% |
Fundamental Drivers
The -20.1% change in QTWO stock from 10/31/2025 to 5/6/2026 was primarily driven by a -94.7% change in the company's P/E Multiple.| (LTM values as of) | 10312025 | 5062026 | Change |
|---|---|---|---|
| Stock Price ($) | 61.76 | 49.34 | -20.1% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 743 | 822 | 10.6% |
| Net Income Margin (%) | 0.7% | 9.0% | 1268.2% |
| P/E Multiple | 788.5 | 41.6 | -94.7% |
| Shares Outstanding (Mil) | 62 | 62 | 0.0% |
| Cumulative Contribution | -20.1% |
Market Drivers
10/31/2025 to 5/6/2026| Return | Correlation | |
|---|---|---|
| QTWO | -20.1% | |
| Market (SPY) | 5.5% | 23.7% |
| Sector (XLK) | 13.4% | 18.7% |
Fundamental Drivers
The -37.7% change in QTWO stock from 4/30/2025 to 5/6/2026 was primarily driven by a -45.6% change in the company's P/S Multiple.| (LTM values as of) | 4302025 | 5062026 | Change |
|---|---|---|---|
| Stock Price ($) | 79.25 | 49.34 | -37.7% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 696 | 822 | 18.0% |
| P/S Multiple | 6.9 | 3.7 | -45.6% |
| Shares Outstanding (Mil) | 60 | 62 | -3.0% |
| Cumulative Contribution | -37.7% |
Market Drivers
4/30/2025 to 5/6/2026| Return | Correlation | |
|---|---|---|
| QTWO | -37.7% | |
| Market (SPY) | 30.4% | 32.1% |
| Sector (XLK) | 62.9% | 24.8% |
Fundamental Drivers
The 100.4% change in QTWO stock from 4/30/2023 to 5/6/2026 was primarily driven by a 49.4% change in the company's P/S Multiple.| (LTM values as of) | 4302023 | 5062026 | Change |
|---|---|---|---|
| Stock Price ($) | 24.62 | 49.34 | 100.4% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 566 | 822 | 45.2% |
| P/S Multiple | 2.5 | 3.7 | 49.4% |
| Shares Outstanding (Mil) | 58 | 62 | -7.6% |
| Cumulative Contribution | 100.4% |
Market Drivers
4/30/2023 to 5/6/2026| Return | Correlation | |
|---|---|---|
| QTWO | 100.4% | |
| Market (SPY) | 78.7% | 53.5% |
| Sector (XLK) | 130.2% | 45.1% |
Price Returns Compared
| 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | Total [1] | |
|---|---|---|---|---|---|---|---|
| Returns | |||||||
| QTWO Return | -37% | -66% | 62% | 132% | -28% | -27% | -59% |
| Peers Return | -20% | -22% | 22% | 30% | -28% | -24% | -45% |
| S&P 500 Return | 27% | -19% | 24% | 23% | 16% | 6% | 93% |
Monthly Win Rates [3] | |||||||
| QTWO Win Rate | 42% | 17% | 50% | 67% | 33% | 40% | |
| Peers Win Rate | 48% | 45% | 57% | 67% | 45% | 24% | |
| S&P 500 Win Rate | 75% | 42% | 67% | 75% | 67% | 60% | |
Max Drawdowns [4] | |||||||
| QTWO Max Drawdown | -43% | -69% | -22% | -7% | -41% | -37% | |
| Peers Max Drawdown | -28% | -34% | -19% | -5% | -39% | -30% | |
| S&P 500 Max Drawdown | -1% | -25% | -1% | -2% | -15% | -7% | |
[1] Cumulative total returns since the beginning of 2021
[2] Peers: FISV, FIS, JKHY, ALKT, NCNO.
[3] Win Rate = % of calendar months in which monthly returns were positive
[4] Max drawdown represents maximum peak-to-trough decline within a year
[5] 2026 data is for the year up to 5/6/2026 (YTD)
How Low Can It Go
| Event | QTWO | S&P 500 |
|---|---|---|
| 2025 US Tariff Shock | ||
| % Loss | -25.3% | -18.8% |
| % Gain to Breakeven | 33.9% | 23.1% |
| Time to Breakeven | 35 days | 79 days |
| Summer-Fall 2023 Five Percent Yield Shock | ||
| % Loss | -16.1% | -9.5% |
| % Gain to Breakeven | 19.1% | 10.5% |
| Time to Breakeven | 9 days | 24 days |
| 2023 SVB Regional Banking Crisis | ||
| % Loss | -38.2% | -6.7% |
| % Gain to Breakeven | 61.8% | 7.1% |
| Time to Breakeven | 122 days | 31 days |
| 2022 Inflation Shock & Fed Tightening | ||
| % Loss | -66.5% | -24.5% |
| % Gain to Breakeven | 198.2% | 32.4% |
| Time to Breakeven | 701 days | 427 days |
| 2020 COVID-19 Crash | ||
| % Loss | -42.3% | -33.7% |
| % Gain to Breakeven | 73.4% | 50.9% |
| Time to Breakeven | 108 days | 140 days |
| Q4 2018 Fed Policy Error / Growth Scare | ||
| % Loss | -22.5% | -19.2% |
| % Gain to Breakeven | 29.0% | 23.7% |
| Time to Breakeven | 35 days | 105 days |
In The Past
Q2's stock fell -25.3% during the 2025 US Tariff Shock. Such a loss loss requires a 33.9% gain to breakeven.
Preserve Wealth
Limiting losses and compounding gains is essential to preserving wealth.
Asset Allocation
Actively managed asset allocation strategies protect wealth. Learn more.
| Event | QTWO | S&P 500 |
|---|---|---|
| 2025 US Tariff Shock | ||
| % Loss | -25.3% | -18.8% |
| % Gain to Breakeven | 33.9% | 23.1% |
| Time to Breakeven | 35 days | 79 days |
| 2023 SVB Regional Banking Crisis | ||
| % Loss | -38.2% | -6.7% |
| % Gain to Breakeven | 61.8% | 7.1% |
| Time to Breakeven | 122 days | 31 days |
| 2022 Inflation Shock & Fed Tightening | ||
| % Loss | -66.5% | -24.5% |
| % Gain to Breakeven | 198.2% | 32.4% |
| Time to Breakeven | 701 days | 427 days |
| 2020 COVID-19 Crash | ||
| % Loss | -42.3% | -33.7% |
| % Gain to Breakeven | 73.4% | 50.9% |
| Time to Breakeven | 108 days | 140 days |
| Q4 2018 Fed Policy Error / Growth Scare | ||
| % Loss | -22.5% | -19.2% |
| % Gain to Breakeven | 29.0% | 23.7% |
| Time to Breakeven | 35 days | 105 days |
| 2015-2016 China Devaluation / Global Growth Scare | ||
| % Loss | -40.5% | -12.2% |
| % Gain to Breakeven | 67.9% | 13.9% |
| Time to Breakeven | 121 days | 62 days |
In The Past
Q2's stock fell -25.3% during the 2025 US Tariff Shock. Such a loss loss requires a 33.9% gain to breakeven.
Preserve Wealth
Limiting losses and compounding gains is essential to preserving wealth.
Asset Allocation
Actively managed asset allocation strategies protect wealth. Learn more.
About Q2 (QTWO)
AI Analysis | Feedback
- Q2 Consumer Banking: A browser-based solution offering comprehensive digital banking capabilities for financial institutions.
- Q2 Small Business and Commercial: A mobile and tablet solution providing digital banking for small businesses and commercial clients.
- Q2mobile Remote Deposit Capture: A partnered solution enabling remote check deposit capture for account holders.
- Q2 Sentinel: A security analytics solution designed for financial institutions.
- Q2 Patrol: An event-driven validation product that enhances security and operations.
- Q2 SMART: A platform for targeting and messaging financial institution customers.
- Q2 CardSwap: Allows account holders to automatically update payment information with newly issued cards.
- Q2 Gro: A digital platform for account opening, sales, and marketing for financial institutions.
- Q2 Biller Direct: A solution specifically designed for bill payment services.
- ClickSWITCH: Enables financial institutions to facilitate direct deposit switching for end users.
- Centrix Dispute Tracking System: An electronic solution for managing transaction disputes.
- Centrix Payments I.Q. System: Monitors ACH files and provides risk reporting for payment processing.
- Centrix Exact/Transaction Management System: A tool for fraud prevention and transaction management.
- Q2 Caliper Software Development Kit (SDK): A developer toolkit for building custom solutions and integrations on the Q2 platform.
- Q2 Contextual PFM: Allows end users to aggregate and view both internal and external financial accounts.
- Q2 Goals: Enables end users to set and track progress towards specific savings goals.
- Q2 Cloud Lending: A digital platform that supports lending and leasing operations.
- PrecisionLender platform: A cloud-based solution for data-driven sales enablement, pricing, and portfolio management in lending.
- Q2 BaaS (Banking as a Service): A portfolio of open API financial services enabling embedded finance solutions.
AI Analysis | Feedback
Q2 Holdings, Inc. (QTWO) sells primarily to other companies. Based on the provided background information, its major customers are regional and community financial institutions (RCFIs) in the United States.
The background description does not list specific names of these customer companies or their public symbols.
AI Analysis | Feedback
- Mitek Systems (MITK)
- Amazon.com, Inc. (AMZN)
AI Analysis | Feedback
Matthew P. Flake, Chief Executive Officer and Chairman of the Board
Matt Flake joined Q2 Holdings, Inc. in 2005 as Vice President of Sales, progressing to President in 2008 and then Chief Executive Officer in 2011 (other sources indicate 2012 or 2013). He has been a pivotal figure in the company's expansion from a startup to a publicly traded entity, overseeing its growth to serve over a thousand financial institutions globally with a market capitalization exceeding $4 billion. With over 25 years of experience in the financial services sector, he has spent 19 of those years at Q2. Prior to his tenure at Q2, Mr. Flake held positions as Regional Sales Director at S1 Corp. and Regional Sales Manager at Q-UP Systems, Inc. He is a graduate of Baylor University and serves on the Board of Directors of payment solutions company AffiniPay.
Jonathan A. Price, Chief Financial Officer
Jonathan A. Price was appointed Chief Financial Officer of Q2 Holdings, Inc., effective November 2024. He brings nearly 20 years of experience in corporate finance and operating leadership, spanning investment banking, corporate strategy, and the technology and financial services software industries. Mr. Price joined Q2 in February 2018, and prior to his CFO appointment, served as Executive Vice President, Strategy & Emerging Businesses, where he played a crucial role in the company's corporate development strategy and business development functions. His prior experience includes over 12 years as an investment banker, specializing in technology and financial services software at BMO Capital Markets, Citi, and Goldman Sachs. He holds an HBA from the Richard Ivey School of Business.
Kirk L. Coleman, Chief Business Officer
As Chief Business Officer at Q2 Holdings, Inc., Kirk Coleman is responsible for the company's day-to-day operations, which encompass marketing, sales, customer success, product, engineering, and operations. His role involves executing Q2's strategic vision to meet increasing customer demand for its digital banking and lending solutions. Before joining Q2, Mr. Coleman founded Centerline Advisors in July 2020. He also previously served as a senior executive at Texas Capital Bank for five years, where he was responsible for Service, Operations, Technology, and Strategic Planning.
Kim Rutledge, Chief People Officer
Kim Rutledge serves as the Chief People Officer at Q2 Holdings, Inc.
Adam Blue, Chief Technology Officer
Adam Blue holds the position of Chief Technology Officer at Q2 Holdings, Inc.
AI Analysis | Feedback
The key risks to Q2 Holdings, Inc. (QTWO) are:- Cybersecurity and Operational Complexity: Q2 operates in a highly regulated environment, handling sensitive financial data for its clients. The inherent complexity of managing technical and operational aspects to ensure consistent and compliant experiences across various channels, coupled with the constant threat of cyberattacks and data breaches, poses a significant risk. Such incidents could lead to substantial costs, liabilities, reputational damage, and a loss of customer trust.
- Intense Competition and Rapid Technological Advancements: The financial technology sector is characterized by intense competition and a rapid pace of technological innovation. Q2 must continuously invest in research and development and adapt its offerings to maintain its competitive edge against existing players and new entrants. Failure to innovate or anticipate market trends could result in a loss of market share and reduced profitability. The emergence of new disruptive technologies, including advancements in artificial intelligence, also poses a competitive threat to traditional software business models.
- Economic Uncertainties, Regulatory Changes, and Industry Consolidation: Q2's financial performance is susceptible to broader economic conditions, such as fluctuations in interest rates and inflationary pressures, which can impact the spending and stability of its financial institution clients. Furthermore, the company operates in a heavily regulated industry and must continuously adapt to evolving financial regulations, including those related to data privacy and artificial intelligence, which can increase compliance costs and expose the company to penalties. Consolidation within the banking sector through mergers and acquisitions can also lead to customer churn and potential revenue fluctuations for Q2. The company's significant revenue concentration in the U.S. market makes it particularly vulnerable to these domestic economic and regulatory shifts.
AI Analysis | Feedback
The increasing market share and offerings of direct-to-consumer fintech companies and embedded finance solutions from non-financial institutions. These entities directly compete with Q2's primary customer base, regional and community financial institutions (RCFIs), for consumers' and businesses' financial relationships, potentially diminishing the demand for Q2's solutions.
AI Analysis | Feedback
Q2 Holdings, Inc. (QTWO) provides a range of cloud-based digital banking solutions to regional and community financial institutions, addressing several significant and growing addressable markets, primarily within the United States and North America.
Digital Banking Platforms
The overall North America digital banking market was valued at approximately USD 8.67 billion in 2024 and is projected to reach USD 10.31 billion by 2033. The U.S. digital banking market alone generated USD 1,839 million in revenue in 2024 and is anticipated to reach USD 3,859 million by 2032. This market is significantly driven by cloud deployment, which offers advantages in cost efficiency and expedited implementation. Similarly, the global digital banking platform market size was estimated at USD 37.49 billion in 2025 and is projected to reach USD 155.44 billion by 2033.
Cloud-Based Financial Platforms
The global cloud-based financial platform market size was approximately USD 20.62 billion in 2023 and is predicted to grow to about USD 54.03 billion by 2032. North America leads this market, with the U.S. alone contributing USD 9.6 billion in revenue in 2024 to the North America finance cloud market.
Digital Lending Platforms
The U.S. digital lending platform market size was USD 2.86 billion in 2024 and is projected to reach approximately USD 114.72 billion by 2034, growing at a CAGR of 26.53%. Another estimate places the U.S. digital lending market size at USD 511.57 billion in 2025, expected to reach USD 896.34 billion by 2030. North America was the largest region in the digital lending platform market in 2024.
Banking as a Service (BaaS)
The U.S. Banking as a Service (BaaS) market size was USD 1.3 billion in 2024 and is expected to grow to USD 8.5 billion by 2032. Globally, the BaaS market is projected to be valued at US$22.5 billion in 2025 and is anticipated to reach US$70.8 billion by 2032. North America held a significant share of the global BaaS market, capturing approximately 41% of the total revenue in 2023.
Fraud Detection and Prevention (FDP)
The U.S. fraud detection and prevention market is expected to reach a projected revenue of US$ 24,289.2 million by 2030. Global spending by financial institutions on fraud detection and prevention is projected to increase from $21.1 billion in 2025 to $39.1 billion by 2030. The BFSI (Banking, Financial Services, and Insurance) sector is a key vertical in the U.S. FDP market.
Personal Financial Management (PFM) Tools
The U.S. personal financial management market is projected to grow to nearly $486 million by 2034. The market size for Personal Finance & Money Management Software Developers in the U.S. was $4.6 billion in 2024 and $4.8 billion in 2025. The global personal financial management (PFM) tools market was valued at $2,409.7 million (approximately $2.41 billion) in 2025 and is projected to expand to USD 11.12 billion by 2035.
AI Analysis | Feedback
Q2 Holdings, Inc. (QTWO) is expected to drive future revenue growth over the next 2-3 years through several key initiatives and market trends:
- Growing Customer Base and Expansion with Existing Clients: Q2 has demonstrated strong bookings from both new customer acquisitions and expansions with existing customers, particularly in enterprise and Tier 1 deals across its digital banking, relationship pricing, and risk and fraud solutions. The company reported 26 enterprise and Tier 1 deals closed in 2025.
- Expansion of Commercial Banking and Risk & Fraud Solutions: The company has highlighted strong momentum in its commercial banking solutions, which processed over $4 trillion in transaction volume in 2025, and rapid growth in its risk and fraud products. These areas are identified as significant drivers for new and expanded bookings.
- Leveraging AI and Innovation Studio for New Offerings and Monetization: Q2 is strategically positioned around AI innovation through its platform approach and Innovation Studio. Management believes this will drive future differentiation and monetization opportunities, with Innovation Studio adoption being a core reason cited in many new deals.
- Continued Growth in Subscription-Based Solutions: A significant portion of Q2's revenue is generated through subscription-based software offerings, and the company is experiencing a shift towards these higher-margin revenue streams. Management has provided raised outlooks for subscription revenue growth, indicating it as a key component of sustainable growth.
AI Analysis | Feedback
Share Repurchases
- Q2 Holdings, Inc. announced a $150 million share repurchase program authorized by its Board of Directors on November 5, 2025.
- As of December 31, 2025, $145.0 million remained available under the share repurchase authorization.
- In the fourth quarter ended December 31, 2025, the company repurchased approximately 69 thousand shares of common stock for a total consideration of approximately $5.0 million.
Share Issuance
- Proceeds from the exercise of stock options and employee stock purchase plan (ESPP) generated $4.2 million for the nine months ended September 30, 2025, and $11.4 million in prior periods (likely full year 2024 or earlier).
- Shares issued for the vesting of restricted stock awards were 1,564 thousand in Q1 2025 and 834 thousand in Q1 2024.
- The number of shares outstanding increased from 56,928,431 as of January 31, 2022, to 62,530,005 as of October 31, 2025.
Inbound Investments
- Tremblant Capital increased its stake in Q2 Holdings by 1,456,565 shares during the fourth quarter of 2025, with an estimated trade value of $100 million.
Capital Expenditures
- Q2's capital expenditures primarily focus on purchases of property and equipment and capitalized software development costs.
- The company expects to satisfy its planned capital expenditures through cash flows from operations.
Latest Trefis Analyses
| Title | Date | |
|---|---|---|
| DASHBOARDS | ||
| Is 10.8% Fall In Q2 (QTWO) Stock A Buying Opportunity? | 04/24/2026 | |
| Is 26.1% Fall In Q2 (QTWO) Stock A Buying Opportunity? | 02/28/2026 | |
| Is 23.8% Fall In Q2 (QTWO) Stock A Buying Opportunity? | 02/13/2026 | |
| Q2 Earnings Notes | 12/28/2026 | |
| Is 23.0% Fall In Q2 (QTWO) Stock A Buying Opportunity? | 10/21/2025 | |
| Is Q2 Stock Built to Withstand a Pullback? | 10/17/2025 | |
| Is 26.2% Fall In Q2 (QTWO) Stock A Buying Opportunity? | 10/15/2025 | |
| Is The 20.8% Decline In Q2 (QTWO) Stock A Dip Buying Opportunity? | 10/03/2025 | |
| ARTICLES | ||
| Time To Buy The Dip In Q2 Stock? | 04/24/2026 | |
| Q2 Stock Tumbled 26% – Opportunity or Trap? | 02/28/2026 | |
| Q2 Stock Sinks 24%, Rebound Coming? | 02/13/2026 | |
| Q2 Stock To $42? | 10/21/2025 | |
| Down 21%, Is QTWO Stock A Buy Now? | 10/03/2025 |
Trade Ideas
Select ideas related to QTWO.
| Date | Ticker | Company | Category | Trade Strategy | 6M Fwd Rtn | 12M Fwd Rtn | 12M Max DD |
|---|---|---|---|---|---|---|---|
| 04302026 | PLTR | Palantir Technologies | Monopoly | MY | Getting CheaperMonopoly-Like with P/S DeclineLarge cap with monopoly-like margins or cash flow generation and getting cheaper based on P/S multiple | 0.0% | 0.0% | 0.0% |
| 04102026 | ADSK | Autodesk | Dip Buy | DB | FCFY OPMDip Buy with High FCF Yield and High MarginBuying dips for companies with high FCF yield and meaningfully high operating margin | 8.5% | 8.5% | 0.0% |
| 04102026 | BSY | Bentley Systems | Dip Buy | DB | FCFY OPMDip Buy with High FCF Yield and High MarginBuying dips for companies with high FCF yield and meaningfully high operating margin | 4.2% | 4.2% | 0.0% |
| 04102026 | ENPH | Enphase Energy | Dip Buy | DB | P/E OPMDip Buy with Low PE and High MarginBuying dips for companies with tame PE and meaningfully high operating margin | 5.7% | 5.7% | 0.0% |
| 04102026 | BL | BlackLine | Dip Buy | DB | CFO/Rev | Low D/EDip Buy with High Cash Flow MarginsBuying dips for companies with significant cash flows from operations and reasonable debt / market cap | 3.2% | 3.2% | -3.0% |
Research & Analysis
Invest in Strategies
Wealth Management
Peer Comparisons
| Peers to compare with: |
Financials
| Median | |
|---|---|
| Name | |
| Mkt Price | 47.66 |
| Mkt Cap | 6.7 |
| Rev LTM | 1,643 |
| Op Inc LTM | 353 |
| FCF LTM | 325 |
| FCF 3Y Avg | 224 |
| CFO LTM | 461 |
| CFO 3Y Avg | 356 |
Growth & Margins
| Median | |
|---|---|
| Name | |
| Rev Chg LTM | 9.2% |
| Rev Chg 3Y Avg | 9.7% |
| Rev Chg Q | 8.1% |
| QoQ Delta Rev Chg LTM | 2.0% |
| Op Inc Chg LTM | 17.2% |
| Op Inc Chg 3Y Avg | 13.8% |
| Op Mgn LTM | 12.4% |
| Op Mgn 3Y Avg | 7.5% |
| QoQ Delta Op Mgn LTM | 1.2% |
| CFO/Rev LTM | 26.2% |
| CFO/Rev 3Y Avg | 22.3% |
| FCF/Rev LTM | 18.1% |
| FCF/Rev 3Y Avg | 15.1% |
Valuation
| Median | |
|---|---|
| Name | |
| Mkt Cap | 6.7 |
| P/S | 3.5 |
| P/Op Inc | 14.9 |
| P/EBIT | 15.4 |
| P/E | 31.0 |
| P/CFO | 14.5 |
| Total Yield | 3.8% |
| Dividend Yield | 0.0% |
| FCF Yield 3Y Avg | 3.1% |
| D/E | 0.2 |
| Net D/E | 0.1 |
Returns
| Median | |
|---|---|
| Name | |
| 1M Rtn | -0.3% |
| 3M Rtn | -8.7% |
| 6M Rtn | -15.8% |
| 12M Rtn | -37.8% |
| 3Y Rtn | -6.8% |
| 1M Excs Rtn | -12.0% |
| 3M Excs Rtn | -15.7% |
| 6M Excs Rtn | -26.6% |
| 12M Excs Rtn | -69.4% |
| 3Y Excs Rtn | -87.3% |
Price Behavior
| Market Price | $49.34 | |
| Market Cap ($ Bil) | 3.1 | |
| First Trading Date | 03/20/2014 | |
| Distance from 52W High | -48.2% | |
| 50 Days | 200 Days | |
| DMA Price | $49.37 | $65.25 |
| DMA Trend | down | down |
| Distance from DMA | -0.1% | -24.4% |
| 3M | 1YR | |
| Volatility | 46.7% | 42.8% |
| Downside Capture | 1.02 | 0.88 |
| Upside Capture | 77.47 | 62.05 |
| Correlation (SPY) | 29.5% | 30.7% |
| 1M | 2M | 3M | 6M | 1Y | 3Y | |
|---|---|---|---|---|---|---|
| Beta | 0.53 | 0.52 | 1.00 | 0.77 | 1.07 | 1.47 |
| Up Beta | -0.23 | -0.41 | 0.06 | 0.38 | 1.09 | 1.36 |
| Down Beta | 7.22 | -0.19 | 0.96 | 0.44 | 0.96 | 1.36 |
| Up Capture | 93% | 101% | 68% | 66% | 49% | 492% |
| Bmk +ve Days | 15 | 22 | 31 | 66 | 141 | 428 |
| Stock +ve Days | 14 | 23 | 28 | 57 | 110 | 380 |
| Down Capture | 629% | 125% | 196% | 131% | 141% | 110% |
| Bmk -ve Days | 4 | 18 | 30 | 56 | 108 | 321 |
| Stock -ve Days | 8 | 20 | 36 | 68 | 141 | 370 |
[1] Upside and downside betas calculated using positive and negative benchmark daily returns respectively
Based On 1-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with QTWO | |
|---|---|---|---|---|
| QTWO | -39.4% | 42.8% | -1.06 | - |
| Sector ETF (XLK) | 59.0% | 20.6% | 2.14 | 24.8% |
| Equity (SPY) | 28.5% | 12.5% | 1.78 | 32.2% |
| Gold (GLD) | 40.6% | 27.2% | 1.23 | -12.6% |
| Commodities (DBC) | 50.9% | 18.0% | 2.20 | -1.9% |
| Real Estate (VNQ) | 12.8% | 13.5% | 0.65 | 14.8% |
| Bitcoin (BTCUSD) | -14.2% | 42.1% | -0.25 | 21.3% |
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Based On 5-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with QTWO | |
|---|---|---|---|---|
| QTWO | -14.3% | 49.5% | -0.13 | - |
| Sector ETF (XLK) | 20.1% | 24.8% | 0.72 | 53.8% |
| Equity (SPY) | 12.7% | 17.1% | 0.58 | 57.4% |
| Gold (GLD) | 21.0% | 17.9% | 0.96 | 2.6% |
| Commodities (DBC) | 13.9% | 19.1% | 0.60 | 9.4% |
| Real Estate (VNQ) | 3.5% | 18.8% | 0.09 | 47.5% |
| Bitcoin (BTCUSD) | 8.7% | 56.1% | 0.37 | 22.1% |
Smart multi-asset allocation framework can stack odds in your favor. Learn How
Based On 10-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with QTWO | |
|---|---|---|---|---|
| QTWO | 7.3% | 44.1% | 0.32 | - |
| Sector ETF (XLK) | 24.3% | 24.4% | 0.90 | 56.3% |
| Equity (SPY) | 14.9% | 17.9% | 0.71 | 56.7% |
| Gold (GLD) | 13.7% | 16.0% | 0.71 | 2.4% |
| Commodities (DBC) | 9.5% | 17.7% | 0.45 | 14.4% |
| Real Estate (VNQ) | 5.7% | 20.7% | 0.24 | 45.7% |
| Bitcoin (BTCUSD) | 68.4% | 66.9% | 1.07 | 14.8% |
Smart multi-asset allocation framework can stack odds in your favor. Learn How
Returns Analyses
Earnings Returns History
Expand for More| Forward Returns | |||
|---|---|---|---|
| Earnings Date | 1D Returns | 5D Returns | 21D Returns |
| 4/29/2026 | -3.4% | -6.0% | |
| 2/11/2026 | -7.4% | -8.7% | -14.7% |
| 11/5/2025 | 14.8% | 20.0% | 20.3% |
| 7/30/2025 | -9.8% | -16.0% | -12.4% |
| 5/7/2025 | 13.0% | 14.4% | 13.6% |
| 2/12/2025 | 0.9% | -1.4% | -17.6% |
| 11/6/2024 | 13.0% | 14.1% | 22.5% |
| 7/31/2024 | 3.8% | -3.6% | 9.4% |
| ... | |||
| SUMMARY STATS | |||
| # Positive | 14 | 11 | 11 |
| # Negative | 11 | 14 | 13 |
| Median Positive | 10.0% | 12.5% | 20.1% |
| Median Negative | -5.1% | -5.5% | -8.6% |
| Max Positive | 15.2% | 20.5% | 25.9% |
| Max Negative | -9.8% | -21.6% | -30.1% |
SEC Filings
Expand for More| Report Date | Filing Date | Filing |
|---|---|---|
| 03/31/2026 | 04/29/2026 | 10-Q |
| 12/31/2025 | 02/11/2026 | 10-K |
| 09/30/2025 | 11/05/2025 | 10-Q |
| 06/30/2025 | 07/30/2025 | 10-Q |
| 03/31/2025 | 05/07/2025 | 10-Q |
| 12/31/2024 | 02/12/2025 | 10-K |
| 09/30/2024 | 11/06/2024 | 10-Q |
| 06/30/2024 | 07/31/2024 | 10-Q |
| 03/31/2024 | 05/01/2024 | 10-Q |
| 12/31/2023 | 02/21/2024 | 10-K |
| 09/30/2023 | 11/01/2023 | 10-Q |
| 06/30/2023 | 08/02/2023 | 10-Q |
| 03/31/2023 | 05/09/2023 | 10-Q |
| 12/31/2022 | 02/21/2023 | 10-K |
| 09/30/2022 | 11/07/2022 | 10-Q |
| 06/30/2022 | 08/04/2022 | 10-Q |
Recent Forward Guidance [BETA]
Latest: Q1 2026 Earnings Reported 4/29/2026
| Forward Guidance | Guidance Change | ||||||
|---|---|---|---|---|---|---|---|
| Metric | Low | Mid | High | % Chg | % Delta | Change | Prior |
| Q2 2026 Revenue | 214.00 Mil | 216.00 Mil | 218.00 Mil | ||||
| Q2 2026 Adjusted EBITDA | 57.50 Mil | 59.00 Mil | 60.50 Mil | ||||
| 2026 Revenue | 875.00 Mil | 878.50 Mil | 882.00 Mil | 0.5% | Raised | Guidance: 874.50 Mil for 2026 | |
| 2026 Adjusted EBITDA | 237.00 Mil | 239.50 Mil | 242.00 Mil | 5.3% | Raised | Guidance: 227.50 Mil for 2026 | |
| 2027 Subscription Revenue Growth | 12.5% | 12.75% | 13.0% | 0 | 0 | Affirmed | Guidance: 12.75% for 2027 |
| 2027 Adjusted EBITDA Margin Expansion | 1.5% | 1.75% | 2.0% | 0 | 0 | Affirmed | Guidance: 1.75% for 2027 |
| 2030 Non-GAAP Gross Margin | 65.0% | 0 | Affirmed | Guidance: 65.0% for 2030 | |||
| 2030 Adjusted EBITDA Margin | 35.0% | 0 | Affirmed | Guidance: 35.0% for 2030 | |||
Prior: Q4 2025 Earnings Reported 2/11/2026
| Forward Guidance | Guidance Change | ||||||
|---|---|---|---|---|---|---|---|
| Metric | Low | Mid | High | % Chg | % Delta | Change | Prior |
| Q1 2026 Total Revenue | 212.50 Mil | 214.50 Mil | 216.50 Mil | 4.9% | Raised | Guidance: 204.40 Mil for Q4 2025 | |
| Q1 2026 Adjusted EBITDA | 52.50 Mil | 54.00 Mil | 55.50 Mil | 10.9% | Raised | Guidance: 48.70 Mil for Q4 2025 | |
| 2026 Total Revenue | 871.00 Mil | 874.50 Mil | 878.00 Mil | 10.6% | Raised | Guidance: 791.00 Mil for 2025 | |
| 2026 Adjusted EBITDA | 225.00 Mil | 227.50 Mil | 230.00 Mil | 23.6% | Raised | Guidance: 184.00 Mil for 2025 | |
| 2027 Subscription Revenue Growth | 12.5% | 12.75% | 13.0% | -5.6% | -0.8% | Lowered | Guidance: 13.5% for 2026 |
| 2027 Adjusted EBITDA Margin Expansion | 1.5% | 1.75% | 2.0% | -30.0% | -0.8% | Lowered | Guidance: 2.5% for 2026 |
| 2030 Non-GAAP Gross Margin | 65.0% | 8.3% | 5.0% | Higher New | Guidance: 60.0% for 2026 | ||
| 2030 Adjusted EBITDA Margin | 35.0% | 52.2% | 12.0% | Higher New | Actual: 23.0% for 2025 | ||
Insider Activity
Expand for More| # | Owner | Title | Holding | Action | Filing Date | Price | Shares | Transacted Value | Value of Held Shares | Form |
|---|---|---|---|---|---|---|---|---|---|---|
| 1 | Kerr, Michael S | General Counsel | Direct | Sell | 3132026 | 50.33 | 2,071 | 104,233 | 2,272,701 | Form |
| 2 | Breeden, John E | Chief Delivery Officer | Direct | Sell | 3132026 | 50.34 | 8,924 | 449,234 | 3,791,206 | Form |
| 3 | Rutledge, Kimberly Anne | Chief People Officer | Direct | Sell | 3132026 | 50.37 | 3,187 | 160,529 | 4,057,354 | Form |
| 4 | Price, Jonathan | Chief Financial Officer | Direct | Sell | 3112026 | 51.35 | 8,680 | 445,718 | 9,677,164 | Form |
| 5 | Coleman, Kirk L | Chief Business Officer | Direct | Sell | 3112026 | 51.35 | 10,849 | 557,096 | 12,930,341 | Form |
External Quote Links
| Y Finance | Barrons |
| TradingView | Morningstar |
| SeekingAlpha | ValueLine |
| Motley Fool | Robinhood |
| CNBC | Etrade |
| MarketWatch | Unusual Whales |
| YCharts | Perplexity Finance |
| FinViz |
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