Qualys Inc. (QLYS) Stock Rating Upgraded by DA Davidson
Qualys Inc. (NASDAQ:QLYS) was upgraded by stock analysts at DA Davidson from a “neutral” rating to a “buy” rating in a research report issued to clients and investors on Monday. The brokerage currently has a $47.00 target price on the stock, up from their prior target price of $36.00. DA Davidson’s target price would suggest a potential upside of 23.85% from the company’s previous close.
A number of other equities analysts also recently issued reports on QLYS. Summit Research reiterated a “hold” rating and issued a $30.00 price target on shares of Qualys in a report on Friday, July 22nd. Zacks Investment Research upgraded shares of Qualys from a “hold” rating to a “buy” rating and set a $33.00 price target for the company in a report on Thursday, June 30th. First Analysis increased their price objective on shares of Qualys from $36.00 to $41.00 and gave the company an “overweight” rating in a research note on Monday, September 12th. TheStreet raised shares of Qualys from a “hold” rating to a “buy” rating in a research note on Friday, July 29th. Finally, Wunderlich raised shares of Qualys from a “hold” rating to a “buy” rating and increased their price objective for the company from $31.00 to $43.00 in a research note on Tuesday, September 13th. One research analyst has rated the stock with a sell rating, eight have given a hold rating and seven have given a buy rating to the stock. The company has an average rating of “Hold” and an average price target of $35.43.
Shares of Qualys (NASDAQ:QLYS) opened at 37.95 on Monday. Qualys has a 12 month low of $16.96 and a 12 month high of $39.74. The firm has a market cap of $1.34 billion, a price-to-earnings ratio of 79.06 and a beta of 1.08. The stock has a 50 day moving average of $36.99 and a 200 day moving average of $31.47.
Qualys (NASDAQ:QLYS) last announced its quarterly earnings results on Wednesday, August 3rd. The company reported $0.20 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.17 by $0.03. The business earned $48.50 million during the quarter, compared to the consensus estimate of $48.01 million. Qualys had a net margin of 9.84% and a return on equity of 8.28%. The business’s revenue was up 21.3% compared to the same quarter last year. During the same quarter last year, the firm posted $0.16 EPS. On average, equities research analysts expect that Qualys will post $0.79 EPS for the current fiscal year.
In other news, Chairman Philippe F. Courtot sold 30,000 shares of the stock in a transaction dated Friday, August 12th. The shares were sold at an average price of $30.49, for a total transaction of $914,700.00. Following the transaction, the chairman now directly owns 5,472,842 shares in the company, valued at approximately $166,866,952.58. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Sumedh S. Thakar sold 1,600 shares of the stock in a transaction dated Friday, September 9th. The stock was sold at an average price of $35.77, for a total transaction of $57,232.00. Following the transaction, the insider now owns 57,335 shares in the company, valued at $2,050,872.95. The disclosure for this sale can be found here. Insiders own 30.20% of the company’s stock.
Hedge funds and other institutional investors have recently made changes to their positions in the company. BlackRock Fund Advisors raised its position in shares of Qualys by 146.1% in the first quarter. BlackRock Fund Advisors now owns 1,518,859 shares of the company’s stock valued at $38,442,000 after buying an additional 901,656 shares during the last quarter. Fiera Capital Corp acquired a new position in Qualys during the second quarter valued at approximately $7,218,000. Summit Creek Advisors LLC acquired a new position in Qualys during the third quarter valued at approximately $9,188,000. Vanguard Group Inc. raised its position in Qualys by 10.2% in the second quarter. Vanguard Group Inc. now owns 1,222,605 shares of the company’s stock valued at $36,446,000 after buying an additional 113,615 shares during the last quarter. Finally, JPMorgan Chase & Co. raised its position in Qualys by 370.6% in the second quarter. JPMorgan Chase & Co. now owns 119,694 shares of the company’s stock valued at $3,568,000 after buying an additional 94,260 shares during the last quarter. Institutional investors and hedge funds own 70.25% of the company’s stock.
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 QualysGuard 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.
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