Qualys (NASDAQ:QLYS) Releases Q3 Earnings Guidance

Qualys (NASDAQ:QLYS) issued an update on its third quarter earnings guidance on Tuesday morning. The company provided earnings per share guidance of $1.28-1.36 for the period, compared to the consensus earnings per share estimate of $1.28. The company issued revenue guidance of $149.8 million to $151.8 million, compared to the consensus revenue estimate of $153.71 million. Qualys also updated its FY24 guidance to $5.46 to $5.62 EPS.

Analysts Set New Price Targets

QLYS has been the topic of several analyst reports. Scotiabank initiated coverage on shares of Qualys in a report on Friday, April 26th. They issued a sector perform rating and a $172.00 target price on the stock. Robert W. Baird lowered their target price on shares of Qualys from $175.00 to $170.00 and set a neutral rating for the company in a research note on Wednesday, May 8th. StockNews.com cut Qualys from a buy rating to a hold rating in a research note on Saturday. Westpark Capital reaffirmed a hold rating on shares of Qualys in a report on Monday. Finally, Truist Financial dropped their price objective on Qualys from $175.00 to $165.00 and set a hold rating on the stock in a report on Wednesday, May 8th. Three investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and two have assigned a buy rating to the company. According to MarketBeat, the company presently has an average rating of Hold and an average target price of $167.09.

Qualys Price Performance

Shares of QLYS traded up $4.07 during mid-day trading on Tuesday, reaching $137.10. 779,872 shares of the company’s stock were exchanged, compared to its average volume of 449,425. Qualys has a 52-week low of $131.00 and a 52-week high of $206.35. The stock has a market capitalization of $5.06 billion, a PE ratio of 31.51 and a beta of 0.49. The business’s fifty day simple moving average is $140.92 and its 200-day simple moving average is $158.41.

Qualys (NASDAQ:QLYS) last announced its earnings results on Tuesday, May 7th. The software maker reported $1.05 earnings per share for the quarter, topping the consensus estimate of $0.88 by $0.17. The business had revenue of $145.81 million during the quarter, compared to the consensus estimate of $145.67 million. Qualys had a net margin of 28.48% and a return on equity of 47.28%. Equities research analysts predict that Qualys will post 3.42 earnings per share for the current year.

Insider Buying and Selling at Qualys

In other news, CEO Sumedh S. Thakar sold 7,000 shares of the business’s stock in a transaction that occurred on Monday, June 3rd. The stock was sold at an average price of $136.78, for a total value of $957,460.00. Following the transaction, the chief executive officer now owns 186,601 shares of the company’s stock, valued at $25,523,284.78. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. In other Qualys news, insider Bruce K. Posey sold 1,330 shares of Qualys stock in a transaction that occurred on Thursday, June 20th. The stock was sold at an average price of $135.14, for a total value of $179,736.20. Following the sale, the insider now owns 59,286 shares of the company’s stock, valued at approximately $8,011,910.04. The sale was disclosed in a 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 that occurred on Monday, June 3rd. The stock was sold at an average price of $136.78, for a total value of $957,460.00. Following the transaction, the chief executive officer now directly owns 186,601 shares of the company’s stock, valued at $25,523,284.78. The disclosure for this sale can be found here. Insiders sold a total of 29,099 shares of company stock valued at $4,060,450 in the last ninety days. Insiders own 1.00% of the company’s stock.

About Qualys

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.