Qualys price target lowered to $210 from $230 at Wedbush

Wedbush analyst Daniel Ives lowered the firm’s price target on Qualys to $210 from $230 and keeps an Outperform rating on the shares. The firm notes Qualys delivered its December quarter results featuring a slight topline miss and bottom-line beat, with strong billings upside pointing to the reacceleration this quarter of demand for the broader product suite as it takes on more of a platform approach. Unfortunately, this quarter’s performance will be overshadowed by the underwhelming full year 2024 guide coming in below the Street for both revenue and EPS as Qualys hones in on an investment year with the cyber industry poised to benefit from numerous tailwinds, Wedbush says.