Qualys price target lowered to $150 from $180 at RBC Capital

RBC Capital lowered the firm’s price target on Qualys to $150 from $180 and keeps a Sector Perform rating on the shares. The company delivered mixed results combining in-line revenue and better than expected profitability with billings that missed expectations and declined 2% y/y, the analyst tells investors in a research note. The firm further cites peer multiple contraction in reducing its price target on Qualys.