Screened 2026-09-15 · the tape above runs as of 23:00 UTC · two dates, stated on purpose · verdict and workings shown in full · never trimmed
The Label · The Season, Not the Day
This name holds its markdown label.
Q2 Holdings, Inc. holds its Markdown at $60.08. Consolidating, no directional conviction, held for 24 days.
As held on the ledger · 2026-09-15
Phase
Markdown · caution
Quantitative state
Consolidating, no directional conviction, held for 24 days
Price at the screen
$60.08
Valuation
42.31 trailing · 17.84 forward price to earnings
Values screen
PASS· score 70.0
Beta
1.33
The Workings
Five Screens, Shown in Full
Full pass across all five screens. This security clears the Titan Ethical Standard: its business and its balance sheet both stay inside the lines.
Test
Figure
Limit
What it means
Status
Business activity
Permissible
Core business clean
Its core business isn't built on prohibited lines: no gambling, alcohol, tobacco, weapons, or interest-based lending.
Pass
Debt load
27.17%
Below 33%
Interest-bearing debt is just 27.2% of its assets, well under the one-third ceiling: it does not run on borrowed money.
Pass
Interest-bearing cash
5.10%
Below 33%
Cash held in interest-bearing accounts and securities is 5.1% of assets, under the one-third limit.
Pass
Receivables
32.86%
Below 49%
Money owed to the company is 32.9% of assets, under the 49% limit.
Pass
Revenue purity
2.55%
Below 5%
Only 2.5% of revenue comes from non-compliant sources, under the 5% line.
Pass
Five checks adapted from AAOIFI screening standards: business activity plus four balance-sheet ratios. All five must pass for ethical clearance. Every figure is arithmetic on public accounts, not judgement.
Fair value range in USD, drawn from the 2026-09-15 screen. The gold marker is the market price at the same screen. A 35.3% margin of safety to the base estimate.
Third-party analyst targets: 12 covering, consensus Buy. The average target sits +25% from the screen price.
Reading the gap · Both our model and the analysts see meaningful upside from here.
Price History & Projections
Where it has been, where the models see it going. History from market close data; projection points are our fair-value estimates and third-party analyst targets, dated to the 2026-09-15 screen.
Fair value and rating are our own model estimates; the Street's range reflects third-party analyst estimates. Analysis, not advice.
The Business, in Plain Words
Small Banks Want Digital Tools But This Provider Stays Plain
Picture a regional lender racing to give customers a modern app without hiring an army of coders. Q2 Holdings slots in with its end-to-end digital banking platform that connects banks, fintechs and alternative lenders across the United States. Revenue is growing 14 percent, margins sit at 9 percent and return on equity reaches 13 percent, yet the opportunity rating stays at none despite a 45 percent gap between the current price and our fair value.
The forward multiple of 16.8 times earnings looks reasonable next to analyst targets clustered around 74 dollars, and the ethical screen clears without issue. Still the unknown moat leaves little room to claim durable advantage over bigger platform players already embedded in larger institutions.
Currency or sector swings are not the main concern here. The real risk is that steady but unexceptional growth fails to lift the shares toward our higher fair value when competition and customer switching costs remain unclear. Analysis, not advice.
The risks · The things to watch: it already moves more than the market on an average day.
Plain-English interpretation of our own screen data. Analysis, not advice.
Where & How to Trade
QTWO trades on the NYSE. As a listed security it is accessible through almost any international broker offering its home market. New to this, or investing from abroad? Our guide to accessing global markets covers brokers, currencies and the practical steps.
The Dated Journal · Newest First, Never Edited
Every Entry, As Written
2026-09-10Markdown · changed$64.99+3.5%Entry 5
The framework has shifted from markup to markdown since the last review. Price is trending lower. Sellers are in control and the prior trend has reversed. Price has moved up 3.5% since our last review. Ethical screening: PASS with passing ethical screen. The risk-adjusted return profile shows modest positive risk-adjusted returns. Our composite framework grades it C, carrying a low risk profile. Technically it is sitting below its long-term trend line with momentum reading oversold. Over the past year the shares are down 51%. Our forward projection puts the odds of a 10% gain over the next month near 19%. The street (13 analysts) rates it strong buy, with a mean price target of $74. Insiders have been net sellers over the past quarter.
2026-08-09Markup · changed$62.81+43.1%Entry 4
The framework has shifted from distribution to markup since the last review. Price is trending higher with momentum. The crowd has caught on and buyers are in control. Price has moved up 43.1% since our last review. Ethical screening: PASS with passing ethical screen. The risk-adjusted return profile shows modest positive risk-adjusted returns. Our composite framework grades it C, carrying a low risk profile. Technically it is sitting below its long-term trend line with momentum reading oversold. Over the past year the shares are down 51%. Our forward projection puts the odds of a 10% gain over the next month near 19%. The street (13 analysts) rates it strong buy, with a mean price target of $74.
2026-07-18Distribution$43.89+0.0%Entry 3
The framework reads distribution. Smart money appears to be selling into strength. Institutional holders may be rotating out. Price has moved down 0.0% since our last review. Ethical screening: PASS with passing ethical screen. The risk-adjusted return profile shows negative risk-adjusted returns. Our composite framework grades it C, carrying a low risk profile. Technically it is sitting below its long-term trend line with momentum reading oversold. Over the past year the shares are down 51%. Our forward projection puts the odds of a 10% gain over the next month near 19%. The street (13 analysts) rates it strong buy, with a mean price target of $74.
2026-07-03Distribution$43.89+0.0%Entry 2
The framework reads distribution. Smart money appears to be selling into strength. Institutional holders may be rotating out. Price has moved down 0.0% since our last review. Ethical screening: PASS with passing ethical screen (70). The risk-adjusted return profile shows negative risk-adjusted returns.
2026-07-02Distribution$43.89Entry 1
The framework reads distribution. Smart money appears to be selling into strength. Institutional holders may be rotating out. Ethical screening: PASS with passing ethical screen (70). The risk-adjusted return profile shows negative risk-adjusted returns.
Each entry above was written on its date, before the outcome. A journal you can prune is not a journal.
