Imperial Capital Raises Price Target on Qualys (QLYS) to $40 Following 3Q Beat
- Wall Street hits record high for third day in a row
- 21st Century Fox (FOXA) offers to acquire Sky for GBP10.75/share
- Coca Cola (KO) Announces James Quincey to Succeed Muhtar Kent as CEO; Kent to Continue as Chairman
- Exclusive: Japan's TDK in talks to buy iPhone supplier InvenSense - sources
- Broadcom Ltd. (AVGO) Tops Q4 EPS by 11c
Get the Pulse of the Market with StreetInsider.com's Pulse Picks. Get your Free Trial here.
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."
Shares of Qualys closed at $35.10 yesterday.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- MKM Partners Raises Price Target on Finisar (FNSR) to $43 Following 2Q
- Needham & Company Raises Price Target on Finisar (FNSR) to $44; Reiterates Strong Buy
- Jefferies Adjusts Estimates on Ciena (CIEN) - PT to $29
Create E-mail Alert Related CategoriesAnalyst Comments, Analyst EPS Change, Analyst EPS View, Analyst PT Change
Related EntitiesEarnings, Imperial Capital
Sign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!