Topeka Capital maintained a Buy rating on Qualys (NASDAQ: QLYS) with a price target of $61. The change follows disappointing Q1 results and guidance. Analyst Frederick Ziegel sees the recent decline as an attractive entry point.

"We reiterate our Buy rating and $61 PT because the central thesis hasn't changed - namely Qualys is very early-on with a product roadmap that will more than double its addressable market. Investors who obsess on the core VM business slowing to 19% from 20% the prior quarter miss the point. That said, QLYS has been priced for perfection, so even a nominal miss is not warmly embraced by investors. Those who have been wringing their hands looking for entry points, look no further than QLYS," said Ziegel.

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 $55.08 yesterday.