RBC Capital lowered the firm’s price target on Qualys (QLYS) to $180 from $212 and keeps a Sector Perform rating on the shares. While the company reported an “okay” quarter, its outlook was lower due primarily to the loss of Microsoft (MSFT) OEM revenue, the analyst tells investors in a research note. RBC adds that while the reinvestment in 2024 with a 20%-25% increase in operating expense takes a bite out of margins, it could better position Qualys for accelerating growth.
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