Qualys (NASDAQ:QLYS) Updates FY24 Earnings Guidance

Qualys (NASDAQ:QLYS) issued an update on its FY24 earnings guidance on Tuesday morning. The company provided earnings per share guidance of $5.06-5.30 for the period, compared to the consensus earnings per share 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 Stock Performance

Shares of Qualys stock traded down $16.23 during mid-day trading on Wednesday, hitting $149.75. 1,762,726 shares of the stock were exchanged, compared to its average volume of 471,335. Qualys has a 12 month low of $113.00 and a 12 month high of $206.35. The company has a 50-day simple moving average of $166.59 and a 200 day simple moving average of $175.87. The company has a market capitalization of $5.53 billion, a P/E ratio of 37.07 and a beta of 0.51.

Qualys (NASDAQ:QLYS) last issued its quarterly earnings results on Wednesday, February 7th. The software maker reported $1.08 EPS for the quarter, topping analysts’ consensus estimates of $0.82 by $0.26. Qualys had a return on equity of 49.06% and a net margin of 27.34%. The business had revenue of $144.57 million for the quarter, compared to analyst estimates of $144.69 million. Analysts predict that Qualys will post 3.35 EPS for the current year.

Analyst Ratings Changes

A number of equities research analysts have recently commented on QLYS shares. Stephens reiterated an equal weight rating and set a $190.00 target price on shares of Qualys in a research note on Thursday, February 8th. Royal Bank of Canada lowered their price objective on shares of Qualys from $212.00 to $180.00 and set a sector perform rating on the stock in a research report on Thursday, February 8th. Truist Financial reduced their target price on shares of Qualys from $175.00 to $165.00 and set a hold rating for the company in a research report on Wednesday. TD Cowen started coverage on shares of Qualys in a report on Tuesday, March 26th. They issued a market perform rating and a $170.00 price target on the stock. Finally, JPMorgan Chase & Co. increased their price objective on Qualys from $146.00 to $152.00 and gave the company an underweight rating in a report on Thursday, February 8th. Four analysts have rated the stock with a sell rating, eight have assigned a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of Hold and an average target price of $157.79.

Insiders Place Their Bets

In other news, CEO Sumedh S. Thakar sold 4,034 shares of the stock in a transaction dated Monday, April 15th. The shares were sold at an average price of $163.96, for a total value of $661,414.64. Following the sale, 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 legal filing with the SEC, which is available at this link. In related news, CFO Joo Mi Kim sold 723 shares of the business’s stock in a transaction dated Tuesday, March 5th. The stock was sold at an average price of $164.76, for a total transaction of $119,121.48. Following the completion of the transaction, the chief financial officer now directly owns 100,289 shares in the company, valued at $16,523,615.64. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, CEO Sumedh S. Thakar sold 4,034 shares of the firm’s stock in a transaction dated Monday, April 15th. The shares were sold at an average price of $163.96, for a total value of $661,414.64. Following the completion of the sale, the chief executive officer now directly owns 193,608 shares in the company, valued at approximately $31,743,967.68. The disclosure for this sale can be found here. Insiders sold a total of 14,590 shares of company stock worth $2,419,842 in the last quarter. 1.00% of the stock is owned by company insiders.

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.