Qualys (NASDAQ:QLYS) Releases Q3 2024 Earnings Guidance

Qualys (NASDAQ:QLYS) issued an update on its third quarter 2024 earnings guidance on Tuesday morning. The company provided earnings per share (EPS) guidance of 1.280-1.360 for the period, compared to the consensus estimate of 1.270. The company issued revenue guidance of $149.8 million-$151.8 million, compared to the consensus revenue estimate of $153.7 million. Qualys also updated its FY 2024 guidance to 5.460-5.620 EPS.

Qualys Trading Up 1.4 %

NASDAQ QLYS traded up $1.79 during midday trading on Thursday, hitting $127.13. The company had a trading volume of 548,916 shares, compared to its average volume of 456,895. Qualys has a twelve month low of $121.64 and a twelve month high of $206.35. The company has a market capitalization of $4.70 billion, a PE ratio of 29.43 and a beta of 0.49. The firm has a 50-day moving average price of $139.97 and a 200-day moving average price of $157.11.

Qualys (NASDAQ:QLYS) last posted its quarterly earnings results on Tuesday, August 6th. The software maker reported $1.52 EPS for the quarter, topping analysts’ consensus estimates of $1.32 by $0.20. Qualys had a return on equity of 47.28% and a net margin of 28.48%. The company had revenue of $148.70 million during the quarter, compared to analysts’ expectations of $148.80 million. During the same quarter in the previous year, the firm earned $0.95 EPS. Qualys’s revenue was up 8.4% on a year-over-year basis. On average, equities analysts anticipate that Qualys will post 3.42 EPS for the current year.

Wall Street Analyst Weigh In

QLYS has been the subject of a number of research analyst reports. Piper Sandler lowered their price target on Qualys from $116.00 to $115.00 and set an underweight rating for the company in a report on Wednesday. Needham & Company LLC reaffirmed a hold rating on shares of Qualys in a report on Wednesday. Northland Securities reaffirmed a market perform rating and issued a $140.00 target price (down previously from $150.00) on shares of Qualys in a report on Wednesday. StockNews.com cut Qualys from a buy rating to a hold rating in a report on Saturday, August 3rd. Finally, Scotiabank lowered their target price on Qualys from $167.00 to $150.00 and set a sector perform rating for the company in a report on Wednesday. Three investment analysts have rated the stock with a sell rating, eleven have issued a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat, Qualys currently has a consensus rating of Hold and a consensus price target of $149.92.

Insider Activity at Qualys

In related news, insider Bruce K. Posey sold 1,330 shares of the company’s stock in a transaction dated Monday, May 20th. The stock was sold at an average price of $145.24, for a total transaction of $193,169.20. Following the sale, the insider now owns 59,616 shares in the company, valued at approximately $8,658,627.84. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other Qualys news, Director Wendy Pfeiffer sold 2,000 shares of the stock in a transaction that occurred on Friday, May 24th. The stock was sold at an average price of $145.72, for a total value of $291,440.00. Following the transaction, the director now owns 8,490 shares in the company, valued at $1,237,162.80. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, insider Bruce K. Posey sold 1,330 shares of the stock in a transaction that occurred on Monday, May 20th. The stock was sold at an average price of $145.24, for a total value of $193,169.20. Following the completion of the transaction, the insider now owns 59,616 shares in the company, valued at approximately $8,658,627.84. The disclosure for this sale can be found here. Insiders have sold a total of 29,715 shares of company stock worth $4,142,951 in the last 90 days. Corporate insiders own 1.00% of the company’s stock.

Qualys Company Profile

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.