Imperial Capital Raises Price Target on Qualys (QLYS) to $40 Following 3Q Beat

November 8, 2016 6:55 AM EST
Get Alerts QLYS Hot Sheet
Price: $32.50 +0.78%

Rating Summary:
    8 Buy, 11 Hold, 0 Sell

Rating Trend: Up Up

Today's Overall Ratings:
    Up: 20 | Down: 30 | New: 24
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Imperial Capital reiterated an Outperform rating on Qualys (NASDAQ: QLYS), and raised the price target to $40.00 (from $38.00), following the company's 3Q earnings report. QLYS reported revenue of $51.0mn and adjusted EPS of $0.22, compared with the Street revenue estimates of $50.7mn and adjusted EPS estimates of $0.19.

Analyst Michael Kim commented, "We are maintaining our Outperform rating on QLYS shares and raising our one-year price target to $40 from $38 based on comparable valuation. Our price target implies potential upside of 14% above recent levels. We are encouraged by early adoption of the company’s newer solutions, Cloud Agent (over 1.3mn agents purchased LTM) and ThreatProtect, which achieved bookings growth of nearly 50% and about 90% sequentially, respectively. Of particular note, average transaction size increased 22% year-over-year (yoy), highlighting the company’s expanded capabilities."

For an analyst ratings summary and ratings history on Qualys click here. For more ratings news on Qualys click here.

Shares of Qualys closed at $35.10 yesterday.



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