Q2 Holdings, Inc.
In the published model solve dated 2026-Q2, anchored at $63.64, Q2 Holdings, Inc. (QTWO) is priced for today's economics sustained for ~17.7 years. boothcheck publishes no house fair value, target price, or buy/sell rating; individual model outputs and user-controlled scenarios are analytical inputs, not Boothcheck targets. The narrative was composed June 28, 2026 from SEC EDGAR filings.
The trajectory is the story. Q1 2026 revenue rose to $216.5 million from $189.7 million, net income jumped to $26.6 million from $4.8 million, gross margin widened to 62.1% from 57.9%, and adjusted EBITDA hit a record $60 million, about 28% of revenue. A SaaS business is crossing from growth-at-all-costs into real profitability. The price has already priced much of that turn and then some. At $42.87 the market pays roughly 52 times company-wide operating income, which on the current 8% operatin
Is QTWO overvalued? See what's priced in →
336 institutional managers reported holding QTWO in 13F filings for the quarter ended 2026-03-31. Together they hold about 92% of the company; the top 10 hold 46%. 59 opened new positions that quarter. Held by BlackRock, Vanguard Group, State Street, among others. On the short side, 4.0M shares were sold short as of the 2026-06-15 count, about 6% of shares outstanding (5.7 days of typical volume to cover).
Quarterly 13F filings arrive up to 45 days after quarter end, so the picture is never current (filed through 2026-05-29). Nothing here is investment advice.
QTWO's share count grew 10.6% over the past five years even with $97.15M spent on repurchases. It pays no dividend. Cash returned over the past three years: $97.15M in repurchases.
Share counts are split-adjusted; repurchase totals are gross of share issuance. Nothing here is investment advice.
No open-market insider buys on file at QTWO over the trailing three years. Absence is a fact about the company, not a signal. 16 officers and directors are on file.
Code P open-market purchases from SEC Form 4 filings, non-derivative, excluding scheduled 10b5-1 plans. Nothing here is investment advice.
QTWO's recent reports: the day-one move, then what the following quarter actually did.
| report | day one | next quarter |
|---|---|---|
| 2023-08-03 | -6.2% | -6.3% |
| 2023-11-02 | +9.9% | +22.1% |
| 2024-02-22 | +9.1% | +15.0% |
| 2024-05-02 | +15.9% | +3.3% |
Day-one is the close-to-close move around the filing. Nothing here is investment advice.
QTWO's latest 8-K filings: 2026-07-29 (items 2.02, 8.01, 9.01); 2026-06-12 (items 5.07); 2026-04-29 (items 2.02, 9.01); 2026-02-11 (items 2.02, 9.01); 2025-11-05 (items 5.02, 9.01).
Item codes are the SEC's own classification of what each report discloses. Dates link to the filing on EDGAR. Nothing here is investment advice.
Model solve date: 2026-Q2
Narrative composed: June 28, 2026
Each week boothcheck ranks the stocks whose prices are betting on the most. Read the most stretched bets archive →
boothcheck is also on Android. Get the app on Google Play →
For informational and research purposes only. Not investment advice. Not a recommendation to buy, sell, or hold any security. boothcheck is not a registered investment adviser. Past performance does not guarantee future results.