Canaccord Genuity Group Issues Positive Forecast for Qualys (NASDAQ:QLYS) Stock Price

by · The Cerbat Gem

Qualys (NASDAQ:QLYS – Free Report) had its price target lifted by Canaccord Genuity Group from $160.00 to $170.00 in a research note issued to investors on Wednesday, Benzinga reports. They currently have a buy rating on the software maker’s stock.

Other analysts have also issued research reports about the stock. Scotiabank reduced their price target on shares of Qualys from $167.00 to $150.00 and set a “sector perform” rating on the stock in a research report on Wednesday, August 7th. Northland Securities reiterated a “market perform” rating and issued a $140.00 price target (down previously from $150.00) on shares of Qualys in a research note on Wednesday, August 7th. UBS Group dropped their price objective on Qualys from $170.00 to $140.00 and set a “neutral” rating for the company in a research report on Wednesday, August 7th. Morgan Stanley lifted their target price on Qualys from $123.00 to $126.00 and gave the company an “underweight” rating in a research report on Wednesday. Finally, DA Davidson upgraded shares of Qualys from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, August 7th. Three analysts have rated the stock with a sell rating, thirteen have issued a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Qualys presently has an average rating of “Hold” and a consensus target price of $152.80.

Check Out Our Latest Report on QLYS

Qualys Stock Up 24.2 %

NASDAQ QLYS opened at $159.23 on Wednesday. Qualys has a 12-month low of $119.17 and a 12-month high of $206.35. The firm has a 50-day moving average price of $124.93 and a two-hundred day moving average price of $136.32. The company has a market capitalization of $5.86 billion, a P/E ratio of 35.07 and a beta of 0.47.

Qualys (NASDAQ:QLYS – Get Free Report) last released its earnings results on Tuesday, August 6th. The software maker reported $1.52 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.32 by $0.20. The company had revenue of $148.70 million for the quarter, compared to analyst estimates of $148.80 million. Qualys had a return on equity of 44.80% and a net margin of 29.36%. Qualys’s quarterly revenue was up 8.4% on a year-over-year basis. During the same period in the prior year, the firm posted $0.95 EPS. Equities analysts expect that Qualys will post 3.94 EPS for the current year.

Insider Activity

In other news, CEO Sumedh S. Thakar sold 7,000 shares of the company’s stock in a transaction dated Monday, October 14th. The shares were sold at an average price of $125.21, for a total transaction of $876,470.00. Following the transaction, the chief executive officer now owns 179,649 shares in the company, valued at approximately $22,493,851.29. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other Qualys news, CFO Joo Mi Kim sold 616 shares of Qualys stock in a transaction on Thursday, September 5th. The shares were sold at an average price of $123.54, for a total transaction of $76,100.64. Following the transaction, the chief financial officer now directly owns 86,576 shares of the company’s stock, valued at $10,695,599.04. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Sumedh S. Thakar sold 7,000 shares of the stock in a transaction dated Monday, October 14th. The shares were sold at an average price of $125.21, for a total transaction of $876,470.00. Following the transaction, the chief executive officer now owns 179,649 shares of the company’s stock, valued at approximately $22,493,851.29. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 10,919 shares of company stock worth $1,360,140 in the last quarter. 1.00% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Qualys

Institutional investors have recently bought and sold shares of the company. First Horizon Advisors Inc. grew its position in Qualys by 294.7% in the second quarter. First Horizon Advisors Inc. now owns 225 shares of the software maker’s stock worth $32,000 after acquiring an additional 168 shares in the last quarter. UMB Bank n.a. lifted its position in Qualys by 149.0% in the 2nd quarter. UMB Bank n.a. now owns 239 shares of the software maker’s stock worth $34,000 after buying an additional 143 shares during the last quarter. Quarry LP bought a new position in Qualys during the second quarter valued at approximately $40,000. DT Investment Partners LLC bought a new stake in shares of Qualys in the 2nd quarter worth approximately $41,000. Finally, Exchange Traded Concepts LLC boosted its stake in shares of Qualys by 53.6% in the 3rd quarter. Exchange Traded Concepts LLC now owns 639 shares of the software maker’s stock valued at $82,000 after purchasing an additional 223 shares in the last quarter. Hedge funds and other institutional investors own 99.31% of the company’s stock.

About Qualys

(Get Free Report)

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.

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