Qualys (NASDAQ:QLYS) Updates Q2 2024 Earnings Guidance

Qualys (NASDAQ:QLYS) updated its second quarter 2024 earnings guidance on Wednesday. The company provided earnings per share guidance of 1.270-1.350 for the period, compared to the consensus earnings per share estimate of 1.290. The company issued revenue guidance of $147.5 million-$149.5 million, compared to the consensus revenue estimate of $150.2 million. Qualys also updated its FY 2024 guidance to 5.060-5.300 EPS.

Qualys Stock Performance

Qualys stock opened at $165.98 on Wednesday. Qualys has a 1 year low of $112.17 and a 1 year high of $206.35. The company’s 50 day simple moving average is $166.94 and its 200-day simple moving average is $176.05. The company has a market capitalization of $6.13 billion, a price-to-earnings ratio of 41.08 and a beta of 0.51.

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

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on QLYS shares. Scotiabank assumed coverage on Qualys in a research note on Friday, April 26th. They set a sector perform rating and a $172.00 target price for the company. TD Cowen started coverage on shares of Qualys in a research note on Tuesday, March 26th. They set a market perform rating and a $170.00 target price for the company. Stephens restated an equal weight rating and issued a $190.00 price target on shares of Qualys in a research report on Thursday, February 8th. Truist Financial lifted their target price on Qualys from $145.00 to $175.00 and gave the company a hold rating in a research note on Tuesday, January 16th. Finally, StockNews.com cut Qualys from a buy rating to a hold rating in a research note on Sunday, April 21st. Four analysts have rated the stock with a sell rating, seven have issued a hold rating and three have issued a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of Hold and a consensus target price of $157.62.

Insider Activity

In other news, insider Bruce K. Posey sold 1,430 shares of the firm’s stock in a transaction on Wednesday, March 20th. The stock was sold at an average price of $164.91, for a total transaction of $235,821.30. Following the sale, the insider now owns 63,057 shares in the company, valued at $10,398,729.87. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other Qualys news, insider Bruce K. Posey sold 1,430 shares of Qualys stock in a transaction on Wednesday, March 20th. The shares were sold at an average price of $164.91, for a total value of $235,821.30. Following the transaction, the insider now owns 63,057 shares in the company, valued at approximately $10,398,729.87. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Sumedh S. Thakar sold 4,120 shares of the business’s stock in a transaction dated Thursday, March 14th. The shares were sold at an average price of $167.62, for a total value of $690,594.40. Following the sale, the chief executive officer now directly owns 194,481 shares of the company’s stock, valued at approximately $32,598,905.22. The disclosure for this sale can be found here. Insiders sold a total of 13,662 shares of company stock valued at $2,263,965 over the last 90 days. Insiders own 1.00% of the company’s stock.

Qualys Company Profile

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.