Qualys price target lowered to $120 from $160 at DA Davidson

DA Davidson lowered the firm’s price target on Qualys to $120 from $160 and keeps a Neutral rating on the shares. The company’s “strong” earnings upside was the “lone bright spot” in its Q2 results, the analyst tells investors in a research note. The firm adds however that growth re-acceleration is “very unlikely” for Qualys over the near-to-intermediate term, and with minimal room for further margin expansion, it sees the stock as fully valued.