In a report released today, Jonathan Ruykhaver from Robert W. Baird maintained a Hold rating on Qualys (NASDAQ: QLYS), with a price target of $80. The company’s shares closed yesterday at $76.23.
Ruykhaver wrote:
“We maintain our Neutral rating and $80 price target. Qualys reported solid 3Q18 results supported by strong traction with the cloud agent and an uptick in contribution from new products. We see the ease of use, frictionless management and low cost of consuming incremental applications from the Qualys Platform as driving greater strategic value over time. We are positive on the fundamentals but view the stock as fairly valued at current levels.”
According to TipRanks.com, Ruykhaver is a 5-star analyst with an average return of 21.9% and a 67.3% success rate. Ruykhaver covers the Technology sector, focusing on stocks such as Forescout Technologies Inc, Proofpoint Inc, and Mimecast Ltd.
Currently, the analyst consensus on Qualys is a Moderate Buy with an average price target of $93.29, which is a 22.4% upside from current levels. In a report issued on October 19, Morgan Stanley also maintained a Hold rating on the stock with a $81 price target.
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Based on Qualys’ latest earnings release for the quarter ending June 30, the company reported a quarterly net profit of $10.29 million. In comparison, last year the company had a net profit of $8.45 million.
Based on the recent corporate insider activity of 92 insiders, corporate insider sentiment is negative on the stock.
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Qualys, Inc. engages in the provision of cloud security and compliance solutions. Its products enable organizations to identify security risks to information technology infrastructures; help protect information technology systems and applications from cyber attacks; and achieve compliance with internal policies and external regulations.
