Qualys (NASDAQ:QLYS) Updates FY24 Earnings Guidance

Qualys (NASDAQ:QLYS) updated its FY24 earnings guidance on Tuesday. The company provided earnings per share (EPS) guidance of $5.06-5.30 for the period, compared to the consensus estimate of $5.20. The company issued revenue guidance of $601.5-608.5 million, compared to the consensus revenue estimate of $607.34 million. Qualys also updated its Q2 guidance to $1.27-1.35 EPS.

Qualys Trading Down 9.8 %

Shares of QLYS traded down $16.23 during midday trading on Wednesday, reaching $149.75. 1,762,726 shares of the stock were exchanged, compared to its average volume of 471,335. The company has a market capitalization of $5.53 billion, a P/E ratio of 37.07 and a beta of 0.51. Qualys has a 52 week low of $113.00 and a 52 week high of $206.35. The company’s 50 day moving average is $166.59 and its two-hundred day moving average is $175.87.

Qualys (NASDAQ:QLYS) last issued its earnings results on Wednesday, February 7th. The software maker reported $1.08 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.82 by $0.26. Qualys had a net margin of 27.34% and a return on equity of 49.06%. The company had revenue of $144.57 million for the quarter, compared to analysts’ expectations of $144.69 million. On average, sell-side analysts expect that Qualys will post 3.35 EPS for the current year.

Wall Street Analyst Weigh In

Several research analysts have recently commented on QLYS shares. JPMorgan Chase & Co. boosted their price target on Qualys from $146.00 to $152.00 and gave the stock an underweight rating in a research report on Thursday, February 8th. Wedbush decreased their price target on shares of Qualys from $230.00 to $210.00 and set an outperform rating for the company in a research report on Thursday, February 8th. Stephens reaffirmed an equal weight rating and issued a $190.00 price objective on shares of Qualys in a research report on Thursday, February 8th. Truist Financial reduced their price objective on shares of Qualys from $175.00 to $165.00 and set a hold rating for the company in a research note on Wednesday. Finally, Royal Bank of Canada lowered their target price on shares of Qualys from $212.00 to $180.00 and set a sector perform rating for the company in a research note on Thursday, February 8th. Four equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat, Qualys currently has an average rating of Hold and a consensus target price of $157.79.

Insider Buying and Selling

In other news, CEO Sumedh S. Thakar sold 4,034 shares of the stock in a transaction dated Monday, April 15th. The stock was sold at an average price of $163.96, for a total value of $661,414.64. Following the transaction, the chief executive officer now directly owns 193,608 shares of the company’s stock, valued at $31,743,967.68. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, CFO Joo Mi Kim sold 928 shares of the firm’s stock in a transaction dated Monday, May 6th. The stock was sold at an average price of $167.97, for a total transaction of $155,876.16. Following the sale, the chief financial officer now directly owns 93,196 shares in the company, valued at approximately $15,654,132.12. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Sumedh S. Thakar sold 4,034 shares of the company’s stock in a transaction dated Monday, April 15th. The stock was sold at an average price of $163.96, for a total transaction of $661,414.64. Following the transaction, the chief executive officer now owns 193,608 shares of the company’s stock, valued at approximately $31,743,967.68. The disclosure for this sale can be found here. Insiders sold 14,590 shares of company stock worth $2,419,842 in the last 90 days. Insiders own 1.00% of the company’s stock.

About Qualys

Qualys, Inc, together with its subsidiaries, provides cloud-based platform delivering information technology (IT), security, and compliance solutions in the United States and internationally. It offers Qualys Cloud Apps, which include Cybersecurity Asset Management and External Attack Surface Management; Vulnerability Management, Detection and Response; Web Application Scanning; Patch Management; Custom Assessment and Remediation; Multi-Vector Endpoint Detection and Response; Context Extended Detection and Response; Policy Compliance; File Integrity Monitoring; and Qualys TotalCloud, as well as Cloud Workload Protection, Cloud Detection and Response, Cloud Security Posture Management, Infrastructure as Code, and Container Security.