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 Stock Performance

Shares of NASDAQ:QLYS traded up $2.12 during midday trading on Thursday, reaching $151.87. 550,545 shares of the company’s stock were exchanged, compared to its average volume of 472,215. The company’s 50 day simple moving average is $166.19 and its two-hundred day simple moving average is $175.70. Qualys has a 12 month low of $113.00 and a 12 month high of $206.35. The firm has a market capitalization of $5.61 billion, a PE ratio of 37.59 and a beta of 0.51.

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

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on the company. Truist Financial lowered their price target on Qualys from $175.00 to $165.00 and set a hold rating on the stock in a research report on Wednesday. JPMorgan Chase & Co. increased their target price on shares of Qualys from $146.00 to $152.00 and gave the stock an underweight rating in a research report on Thursday, February 8th. Stephens restated an equal weight rating and issued a $190.00 price target on shares of Qualys in a research report on Thursday, February 8th. StockNews.com lowered shares of Qualys from a buy rating to a hold rating in a report on Sunday, April 21st. Finally, TD Cowen began coverage on Qualys in a report on Tuesday, March 26th. They issued a market perform rating and a $170.00 target price on the stock. Three investment analysts have rated the stock with a sell rating, eight have issued a hold rating and three have given a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of Hold and a consensus target price of $162.23.

Insider Transactions at Qualys

In other Qualys news, 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 transaction, the chief financial officer now directly owns 93,196 shares in the company, valued at approximately $15,654,132.12. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. In other news, CEO Sumedh S. Thakar sold 4,120 shares of the business’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 transaction, the chief executive officer now directly owns 194,481 shares in the company, valued at approximately $32,598,905.22. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CFO Joo Mi Kim sold 928 shares of the stock in a transaction that occurred on 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 sale, the chief financial officer now owns 93,196 shares in the company, valued at $15,654,132.12. The disclosure for this sale can be found here. Insiders sold a total of 14,590 shares of company stock worth $2,419,842 over the last 90 days. 1.00% of the stock is owned by 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.