Qualys (QLYS) Price Target Raised to $65.00 at Royal Bank of Canada

Qualys (NASDAQ:QLYS) had its price objective hoisted by Royal Bank of Canada to $65.00 in a research report issued on Tuesday. The brokerage currently has a “market perform” rating on the software maker’s stock. Royal Bank of Canada’s price objective would indicate a potential downside of 3.42% from the company’s previous close.

A number of other research analysts have also weighed in on QLYS. Wells Fargo & Co set a $62.00 price objective on Qualys and gave the company a “hold” rating in a report on Tuesday. Northland Securities set a $70.00 price objective on Qualys and gave the company a “buy” rating in a report on Tuesday. Stifel Nicolaus restated a “hold” rating and issued a $67.00 price objective on shares of Qualys in a report on Tuesday. JPMorgan Chase & Co. raised their price objective on Qualys from $65.00 to $70.00 and gave the company a “neutral” rating in a report on Tuesday. Finally, Morgan Stanley set a $65.00 price objective on Qualys and gave the company a “hold” rating in a report on Tuesday. Ten analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus price target of $62.83.

Shares of Qualys (NASDAQ QLYS) traded up $4.70 during trading hours on Tuesday, hitting $67.30. The stock had a trading volume of 887,159 shares, compared to its average volume of 213,575. Qualys has a 52-week low of $33.75 and a 52-week high of $67.95. The stock has a market cap of $2,550.00, a price-to-earnings ratio of 60.63, a price-to-earnings-growth ratio of 4.80 and a beta of 1.01.

Qualys (NASDAQ:QLYS) last announced its earnings results on Monday, February 12th. The software maker reported $0.32 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.28 by $0.04. Qualys had a return on equity of 14.81% and a net margin of 19.76%. The firm had revenue of $62.90 million for the quarter, compared to analyst estimates of $61.96 million. During the same quarter last year, the firm posted $0.23 EPS. The business’s revenue was up 20.5% on a year-over-year basis. equities analysts expect that Qualys will post 0.65 earnings per share for the current year.

In other Qualys news, insider Sumedh S. Thakar sold 2,000 shares of the firm’s stock in a transaction on Monday, December 11th. The stock was sold at an average price of $58.84, for a total value of $117,680.00. Following the completion of the sale, the insider now directly owns 186,436 shares of the company’s stock, valued at approximately $10,969,894.24. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Chairman Philippe F. Courtot sold 40,000 shares of the firm’s stock in a transaction on Thursday, November 16th. The stock was 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 directly owns 5,564,435 shares of the company’s stock, valued at $322,681,585.65. The disclosure for this sale can be found here. Insiders sold a total of 375,023 shares of company stock valued at $22,284,431 over the last ninety days. Corporate insiders own 20.90% of the company’s stock.

Institutional investors and hedge funds have recently modified their holdings of the business. Pier 88 Investment Partners LLC increased its stake in shares of Qualys by 62.8% in the 3rd quarter. Pier 88 Investment Partners LLC now owns 10,633 shares of the software maker’s stock worth $551,000 after acquiring an additional 4,100 shares during the last quarter. State Street Corp increased its stake in shares of Qualys by 12.9% in the 2nd quarter. State Street Corp now owns 721,149 shares of the software maker’s stock worth $29,421,000 after acquiring an additional 82,251 shares during the last quarter. Prudential Financial Inc. increased its stake in shares of Qualys by 3.8% in the 3rd quarter. Prudential Financial Inc. now owns 52,590 shares of the software maker’s stock worth $2,724,000 after acquiring an additional 1,920 shares during the last quarter. Legal & General Group Plc increased its position 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 purchasing an additional 5,680 shares during the last quarter. Finally, James Investment Research Inc. acquired a new stake in shares of Qualys during the 4th quarter worth about $1,769,000. 75.21% of the stock is owned by institutional investors and hedge funds.

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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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