Northland Securities Reiterates “$70.00” Price Target for Qualys (QLYS)

Qualys (NASDAQ:QLYS) has been given a $70.00 target price by equities researchers at Northland Securities in a report released on Tuesday. The firm currently has a “buy” rating on the software maker’s stock. Northland Securities’ price target indicates a potential upside of 4.01% from the stock’s current price.

Several other research analysts also recently issued reports on the company. Zacks Investment Research downgraded Qualys from a “buy” rating to a “hold” rating in a research note on Thursday, January 4th. Needham & Company LLC reaffirmed a “buy” rating and issued a $70.00 price objective (up previously from $65.00) on shares of Qualys in a research note on Wednesday, November 1st. Summit Redstone raised Qualys from a “hold” rating to a “buy” rating and set a $65.00 price objective for the company in a research note on Wednesday, November 1st. KeyCorp reaffirmed a “hold” rating on shares of Qualys in a research note on Friday, October 27th. Finally, Robert W. Baird reaffirmed a “hold” rating and issued a $61.00 price objective on shares of Qualys in a research note on Wednesday, November 1st. Ten investment analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus target price of $61.17.

Shares of Qualys (NASDAQ:QLYS) traded up $4.70 during midday trading on Tuesday, reaching $67.30. The company’s stock had a trading volume of 892,978 shares, compared to its average volume of 213,575. The firm has a market capitalization of $2,550.00, a P/E ratio of 60.63, a price-to-earnings-growth ratio of 4.80 and a beta of 1.01. Qualys has a 12-month low of $33.75 and a 12-month high of $67.95.

Qualys (NASDAQ:QLYS) last issued its earnings results on Monday, February 12th. The software maker reported $0.32 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.28 by $0.04. The firm had revenue of $62.90 million during the quarter, compared to the consensus estimate of $61.96 million. Qualys had a return on equity of 14.81% and a net margin of 19.76%. The business’s quarterly revenue was up 20.5% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.23 earnings per share. analysts predict that Qualys will post 0.65 earnings per share for the current fiscal year.

In related news, Director Donald R. Dixon sold 83,743 shares of the company’s stock in a transaction that occurred on Thursday, November 16th. The stock was sold at an average price of $58.15, for a total value of $4,869,655.45. Following the sale, the director now directly owns 196,839 shares in the company, valued at $11,446,187.85. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Chairman Philippe F. Courtot sold 40,000 shares of the company’s stock in a transaction that occurred on Thursday, November 16th. The shares were sold at an average price of $57.99, for a total value of $2,319,600.00. Following the completion of the sale, the chairman now owns 5,564,435 shares in the company, valued at $322,681,585.65. The disclosure for this sale can be found here. Insiders sold 375,023 shares of company stock worth $22,284,431 over the last quarter. 20.90% of the stock is currently owned by company insiders.

A number of hedge funds have recently made changes to their positions in the stock. Pier 88 Investment Partners LLC boosted its holdings in shares of Qualys by 62.8% during the 3rd quarter. Pier 88 Investment Partners LLC now owns 10,633 shares of the software maker’s stock worth $551,000 after buying an additional 4,100 shares in the last quarter. State Street Corp boosted its holdings in shares of Qualys by 12.9% during the 2nd quarter. State Street Corp now owns 721,149 shares of the software maker’s stock worth $29,421,000 after buying an additional 82,251 shares in the last quarter. Prudential Financial Inc. boosted its holdings in shares of Qualys by 3.8% during the 3rd quarter. Prudential Financial Inc. now owns 52,590 shares of the software maker’s stock worth $2,724,000 after buying an additional 1,920 shares in the last quarter. Legal & General Group Plc boosted its holdings in shares of Qualys by 9.9% during the 3rd quarter. Legal & General Group Plc now owns 63,344 shares of the software maker’s stock worth $3,282,000 after buying an additional 5,680 shares in the last quarter. Finally, James Investment Research Inc. bought a new position in shares of Qualys during the 4th quarter worth approximately $1,769,000. Institutional investors and hedge funds own 75.21% of the company’s stock.

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Qualys Company Profile

Qualys, Inc is a provider of cloud-based security and compliance solutions. The Company’s solutions enable organizations to identify security risks to their information technology (IT) infrastructures, help protect their IT systems and applications from cyber-attacks. Its suite of security and compliance solutions delivered on its Qualys Cloud Platform enables its customers to identify their IT assets, collect and analyze IT security data, discover and prioritize vulnerabilities, recommend remediation actions and verify the implementation of such actions.

Analyst Recommendations for Qualys (NASDAQ:QLYS)

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