Qualys (NASDAQ:QLYS) Releases Q2 2024 Earnings Guidance

Qualys (NASDAQ:QLYS) issued an update on its second quarter 2024 earnings guidance on Wednesday morning. The company provided EPS guidance of 1.270-1.350 for the period, compared to the consensus EPS 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 Trading Up 1.4 %

Shares of QLYS stock traded up $2.12 during trading hours on Thursday, reaching $151.87. 550,545 shares of the company’s stock were exchanged, compared to its average volume of 472,215. The stock has a market cap of $5.61 billion, a PE ratio of 37.59 and a beta of 0.51. The stock’s fifty day moving average price is $166.19 and its two-hundred day moving average price is $175.70. Qualys has a 1 year low of $113.00 and a 1 year high of $206.35.

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

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on the company. JPMorgan Chase & Co. raised their target price on Qualys from $146.00 to $152.00 and gave the stock an underweight rating in a research note on Thursday, February 8th. Stephens reaffirmed an equal weight rating and set a $190.00 target price on shares of Qualys in a report on Thursday, February 8th. Robert W. Baird cut their price target on shares of Qualys from $175.00 to $170.00 and set a neutral rating on the stock in a report on Wednesday. Wedbush decreased their price objective on shares of Qualys from $230.00 to $210.00 and set an outperform rating for the company in a research note on Thursday, February 8th. Finally, Scotiabank assumed coverage on shares of Qualys in a research note on Friday, April 26th. They issued a sector perform rating and a $172.00 price objective on the stock. Three research analysts have rated the stock with a sell rating, eight have given a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat.com, Qualys currently has a consensus rating of Hold and a consensus price target of $162.23.

Insider Buying and Selling

In other news, CEO Sumedh S. Thakar sold 4,120 shares of the firm’s stock in a transaction that occurred on Thursday, March 14th. The shares were sold at an average price of $167.62, for a total transaction of $690,594.40. Following the completion of the sale, the chief executive officer now owns 194,481 shares in the company, valued at approximately $32,598,905.22. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In related news, CEO Sumedh S. Thakar sold 4,120 shares of the firm’s stock in a transaction dated Thursday, March 14th. The stock was sold at an average price of $167.62, for a total transaction of $690,594.40. Following the completion of 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 sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Joo Mi Kim sold 928 shares of the company’s stock in a transaction dated Monday, May 6th. The shares were sold at an average price of $167.97, for a total transaction of $155,876.16. Following the completion of the transaction, the chief financial officer now directly owns 93,196 shares in the company, valued at approximately $15,654,132.12. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 14,590 shares of company stock worth $2,419,842. 1.00% of the stock is owned by corporate insiders.

About Qualys

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.