Qualys (QLYS) PT Raised to $145 at Truist Securities

Truist Securities analyst Joel P. Fishbein Jr raised the price target on Qualys (NASDAQ: QLYS) to $145.00 (from $120.00) while maintaining a Hold rating.

The analyst comments "QLYS delivered better than expected results for 3Q24 as NDR ticked up slightly due to stronger upsell performance despite a challenging demand backdrop. CCB was the star performer, up 14% YoY vs. Street expectations of up 6%. Despite the outperformance in CCB, management expects lighter new business in Q4. As the company ramps up its direct GTM investments we continue to look for visibility into a re-acceleration. However, with limited visibility due to the uncertain demand backdrop and expected margin compression from coming GTM investments, in our view, we remain Hold rated. We adjust our estimates and raise our PT to $145 from $120."

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