Qualys (QLYS) Price Target Raised to $70.00 at JPMorgan Chase & Co.

Qualys (NASDAQ:QLYS) had its price target increased by research analysts at JPMorgan Chase & Co. from $65.00 to $70.00 in a research report issued to clients and investors on Tuesday. The firm currently has a “neutral” rating on the software maker’s stock. JPMorgan Chase & Co.’s target price points to a potential upside of 11.82% from the company’s previous close.

A number of other research analysts also recently commented on QLYS. Northland Securities set a $48.00 target price on Qualys and gave the company a “buy” rating in a research report on Wednesday, October 18th. Needham & Company LLC initiated coverage on Qualys in a research report on Monday, October 23rd. They set a “buy” rating and a $65.00 target price for the company. KeyCorp reiterated a “hold” rating on shares of Qualys in a research report on Friday, October 27th. Robert W. Baird reiterated a “hold” rating and set a $61.00 target price on shares of Qualys in a research report on Wednesday, November 1st. Finally, Wells Fargo & Co set a $52.00 target price on Qualys and gave the company a “hold” rating in a research report on Wednesday, November 1st. Ten analysts have rated the stock with a hold rating and six have given a buy rating to the company. The stock currently has an average rating of “Hold” and a consensus price target of $58.75.

Qualys (QLYS) traded up $2.70 during mid-day trading on Tuesday, reaching $62.60. The company’s stock had a trading volume of 797,600 shares, compared to its average volume of 210,089. Qualys has a 1-year low of $33.75 and a 1-year high of $65.88. The company has a market cap of $2,271.38, a P/E ratio of 56.91, a price-to-earnings-growth ratio of 4.80 and a beta of 1.02.

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

In related news, CEO Philippe F. Courtot sold 20,000 shares of the stock in a transaction on Friday, November 24th. The stock was sold at an average price of $61.54, for a total transaction of $1,230,800.00. Following the sale, the chief executive officer now owns 5,564,435 shares in the company, valued at approximately $342,435,329.90. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Sumedh S. Thakar sold 2,000 shares of the stock in a transaction on Monday, December 11th. The shares were sold at an average price of $58.84, for a total value of $117,680.00. Following the sale, the insider now owns 186,436 shares in the company, valued at approximately $10,969,894.24. The disclosure for this sale can be found here. Insiders have sold a total of 375,023 shares of company stock worth $22,284,431 in the last 90 days. 20.90% of the stock is currently owned by insiders.

Large investors have recently added to or reduced their stakes in the stock. Advisors Asset Management Inc. purchased a new stake in Qualys during the 3rd quarter valued at $101,000. Advisory Services Network LLC purchased a new stake in Qualys in the fourth quarter worth $118,000. Steward Partners Investment Advisory LLC purchased a new stake in Qualys in the fourth quarter worth $154,000. Ameritas Investment Partners Inc. increased its stake in Qualys by 17.4% in the second quarter. Ameritas Investment Partners Inc. now owns 2,757 shares of the software maker’s stock worth $112,000 after purchasing an additional 408 shares during the period. Finally, Thompson Davis & CO. Inc. increased its stake in Qualys by 1,100.0% in the third quarter. Thompson Davis & CO. Inc. now owns 3,000 shares of the software maker’s stock worth $155,000 after purchasing an additional 2,750 shares during the period. Institutional investors 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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