Qualys (NASDAQ:QLYS) Price Target Cut to $145.00 by Analysts at Wedbush

Qualys (NASDAQ:QLYS) had its price objective reduced by research analysts at Wedbush from $160.00 to $145.00 in a note issued to investors on Wednesday,Benzinga reports. The brokerage currently has an “outperform” rating on the software maker’s stock. Wedbush’s target price would suggest a potential upside of 8.63% from the stock’s current price.

Several other equities research analysts have also issued reports on the company. Loop Capital dropped their price target on Qualys from $150.00 to $140.00 and set a “hold” rating for the company in a research note on Friday, February 7th. Morgan Stanley lowered their price objective on shares of Qualys from $120.00 to $90.00 and set an “underweight” rating for the company in a report on Wednesday, April 16th. Canaccord Genuity Group reduced their target price on shares of Qualys from $163.00 to $158.00 and set a “buy” rating on the stock in a report on Wednesday. JPMorgan Chase & Co. dropped their target price on shares of Qualys from $122.00 to $117.00 and set an “underweight” rating for the company in a report on Monday, April 28th. Finally, Jefferies Financial Group decreased their target price on Qualys from $145.00 to $130.00 and set a “hold” rating for the company in a research report on Monday, March 31st. Three investment analysts have rated the stock with a sell rating, twelve have assigned a hold rating and three have given a buy rating to the company. According to MarketBeat.com, Qualys currently has an average rating of “Hold” and an average price target of $137.50.

Qualys Stock Performance

Shares of QLYS stock opened at $133.48 on Wednesday. The company has a market capitalization of $4.85 billion, a PE ratio of 28.71 and a beta of 0.61. The business’s fifty day moving average is $125.48 and its 200 day moving average is $135.90. Qualys has a 52-week low of $112.61 and a 52-week high of $170.00.

Qualys (NASDAQ:QLYS) last released its quarterly earnings results on Tuesday, May 6th. The software maker reported $1.67 EPS for the quarter, topping analysts’ consensus estimates of $1.46 by $0.21. The business had revenue of $159.90 million during the quarter, compared to analysts’ expectations of $157.05 million. Qualys had a net margin of 28.59% and a return on equity of 38.52%. The business’s quarterly revenue was up 9.7% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.45 EPS. On average, sell-side analysts forecast that Qualys will post 3.85 EPS for the current fiscal year.

Insider Activity at Qualys

In other Qualys news, CFO Joo Mi Kim sold 4,542 shares of the stock in a transaction on Thursday, February 13th. The stock was sold at an average price of $140.08, for a total value of $636,243.36. Following the completion of the sale, the chief financial officer now owns 108,215 shares in the company, valued at approximately $15,158,757.20. This represents a 4.03 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Sumedh S. Thakar sold 7,000 shares of the business’s stock in a transaction dated Friday, February 14th. The shares were sold at an average price of $142.17, for a total value of $995,190.00. Following the completion of the transaction, the chief executive officer now owns 246,144 shares in the company, valued at $34,994,292.48. The trade was a 2.77 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 31,156 shares of company stock worth $4,164,721. 1.00% of the stock is owned by company insiders.

Institutional Trading of Qualys

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. SBI Securities Co. Ltd. purchased a new stake in Qualys during the 4th quarter valued at approximately $28,000. Catalyst Capital Advisors LLC purchased a new position in Qualys during the fourth quarter valued at $39,000. Quadrant Capital Group LLC increased its holdings in Qualys by 88.1% in the 4th quarter. Quadrant Capital Group LLC now owns 333 shares of the software maker’s stock valued at $47,000 after acquiring an additional 156 shares during the last quarter. Johnson Financial Group Inc. purchased a new stake in Qualys in the 4th quarter worth $54,000. Finally, Fifth Third Bancorp boosted its holdings in shares of Qualys by 33.9% during the 4th quarter. Fifth Third Bancorp now owns 391 shares of the software maker’s stock valued at $55,000 after purchasing an additional 99 shares during the last quarter. Institutional investors own 99.31% of the company’s stock.

Qualys Company Profile

Qualys, Inc, together with its subsidiaries, provides cloud-based platform delivering information technology (IT), security, and compliance solutions in the United States and internationally. It offers Qualys Cloud Apps, which include Cybersecurity Asset Management and External Attack Surface Management; Vulnerability Management, Detection and Response; Web Application Scanning; Patch Management; Custom Assessment and Remediation; Multi-Vector Endpoint Detection and Response; Context Extended Detection and Response; Policy Compliance; File Integrity Monitoring; and Qualys TotalCloud, as well as Cloud Workload Protection, Cloud Detection and Response, Cloud Security Posture Management, Infrastructure as Code, and Container Security.