Qualys (NASDAQ:QLYS) Updates FY24 Earnings Guidance

Qualys (NASDAQ:QLYS) updated its FY24 earnings guidance on Tuesday. The company provided earnings per share guidance of $5.06-5.30 for the period, compared to the consensus earnings per share estimate of $5.20. The company issued revenue guidance of $601.5-608.5 million, compared to the consensus revenue estimate of $607.34 million. Qualys also updated its Q2 guidance to $1.27-1.35 EPS.

Qualys Price Performance

NASDAQ QLYS traded down $4.21 on Tuesday, hitting $165.98. 813,436 shares of the stock were exchanged, compared to its average volume of 456,649. The business’s fifty day moving average is $166.95 and its 200 day moving average is $175.98. Qualys has a 52 week low of $112.17 and a 52 week high of $206.35. The company has a market capitalization of $6.13 billion, a PE ratio of 42.13 and a beta of 0.51.

Qualys (NASDAQ:QLYS) last issued its quarterly earnings data on Wednesday, February 7th. The software maker reported $1.08 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.82 by $0.26. Qualys had a return on equity of 49.06% and a net margin of 27.34%. The company had revenue of $144.57 million during the quarter, compared to analysts’ expectations of $144.69 million. Analysts predict that Qualys will post 3.35 EPS for the current fiscal year.

Analyst Ratings Changes

Several brokerages recently issued reports on QLYS. Scotiabank began coverage on Qualys in a research note on Friday, April 26th. They issued a sector perform rating and a $172.00 price target for the company. StockNews.com downgraded shares of Qualys from a buy rating to a hold rating in a report on Sunday, April 21st. JPMorgan Chase & Co. increased their target price on shares of Qualys from $146.00 to $152.00 and gave the company an underweight rating in a research report on Thursday, February 8th. Stephens reiterated an equal weight rating and set a $190.00 price target on shares of Qualys in a report on Thursday, February 8th. Finally, Royal Bank of Canada reduced their price target on shares of Qualys from $212.00 to $180.00 and set a sector perform rating for the company in a research report on Thursday, February 8th. Four equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat, the stock has an average rating of Hold and a consensus price target of $157.62.

Insider Activity

In other news, CEO Sumedh S. Thakar sold 4,120 shares of the business’s stock in a transaction that occurred on Thursday, March 14th. The shares were sold at an average price of $167.62, for a total transaction of $690,594.40. Following the completion of the transaction, the chief executive officer now directly owns 194,481 shares of the company’s stock, valued at $32,598,905.22. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, insider Bruce K. Posey sold 1,443 shares of the company’s stock in a transaction dated Monday, April 22nd. The shares were sold at an average price of $167.33, for a total transaction of $241,457.19. Following the completion of the sale, the insider now owns 62,614 shares of the company’s stock, valued at approximately $10,477,200.62. 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 4,120 shares of the firm’s stock in a transaction that occurred on Thursday, March 14th. The stock was sold at an average price of $167.62, for a total transaction of $690,594.40. Following the completion of the transaction, the chief executive officer now directly owns 194,481 shares in the company, valued at approximately $32,598,905.22. The disclosure for this sale can be found here. Insiders have sold a total of 13,662 shares of company stock worth $2,263,965 over the last 90 days. 1.00% of the stock is currently owned by insiders.

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.