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Wednesday, Scotiabank (TSX:BNS) analyst Patrick Colville increased the price target on Qualys (NASDAQ: QLYS) shares to $142.00, up from the previous $140.00. The Sector Perform rating was maintained. According to InvestingPro data, Qualys boasts impressive gross profit margins of 81.65% and maintains a strong financial position with minimal debt relative to equity. Colville’s decision comes after Qualys reported first-quarter results that were viewed as satisfactory, particularly in contrast to the recent disappointing performance of its close peer, Tenable, last week.
Qualys has acknowledged facing a more challenging environment for acquiring new logos and noted uncertainty due to macroeconomic factors. Despite these challenges, Colville highlighted Qualys’ decision to raise its 2025 earnings per share (EPS) target significantly, more than double the magnitude of the Q1 beat. This move is seen as a response to the current economic climate and the company’s current lack of a chief revenue officer. InvestingPro analysis shows the company maintains a "GREAT" financial health score, supported by strong cash flows and consistent profitability.
In addition to the price target adjustment, Colville commended Qualys for its continued capital return in the first quarter. While recognizing Qualys as a "legendary company," the analyst expressed a desire to see more evidence of success from newer products before adopting a more positive stance on the stock. According to Colville, although high-single-digit growth is respectable and could be considered the new norm for Qualys, it aligns with discussions with Chief Information Security Officers (CISOs) indicating that exposure management is not currently a top priority in cybersecurity.
The analyst’s comments suggest that while Qualys is managing to navigate a difficult market, its growth prospects are seen as stable but not exceptional. The increase in the price target reflects a modest optimism tempered by the need for evidence of stronger performance from the company’s newer offerings. With revenue growth of 9.58% over the last twelve months and trading at a P/E ratio of 27x, InvestingPro analysis suggests the stock is slightly undervalued based on its proprietary Fair Value model. Subscribers can access 7 additional exclusive ProTips and comprehensive valuation metrics for Qualys through the platform’s detailed research reports.
In other recent news, Qualys Inc (NASDAQ:QLYS). reported its first-quarter 2025 earnings, surpassing market expectations with an earnings per share (EPS) of $1.67, compared to the forecasted $1.47. The company’s revenue reached $159.9 million, exceeding the anticipated $157.11 million, reflecting a 10% year-over-year increase. DA Davidson maintained a Neutral rating on Qualys with a $130 price target, noting that while revenue and EBITDA exceeded expectations, growth in the Core Customer Base slowed due to invoice timing. Meanwhile, Canaccord Genuity adjusted its outlook on Qualys, reducing the price target to $158 from $163 but maintaining a Buy rating, citing the company’s solid cybersecurity platform and growth potential. Qualys has been expanding its channel partnerships and high-spending platform customers, with new growth drivers like Cloud-Native Application Protection Platform capabilities. The company is optimistic about its Federal market opportunities, with several products expected to receive FedRAMP High certification. For the full year 2025, Qualys projects revenue between $648 million and $657 million, with an EPS guidance of $6.00 to $6.30, despite macroeconomic uncertainties affecting sales cycles.
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