Qualys (QLYS – Research Report), the Technology sector company, was revisited by a Wall Street analyst yesterday. Analyst Kingsley Crane from Canaccord Genuity maintained a Buy rating on the stock and has a $158.00 price target.
Kingsley Crane has given his Buy rating due to a combination of factors that highlight Qualys’s strong performance and potential for future growth. The company reported impressive financial results with a 10% year-over-year increase in revenue and maintained a solid net retention rate of 103%. Additionally, Qualys’s adjusted EBITDA margins stood at a robust 47%, reflecting its operational efficiency.
Moreover, Qualys has demonstrated resilience in a challenging market by leveraging channel partnerships and expanding its customer base. The company’s strategic initiatives, such as the introduction of the Managed Risk Operation Center and the growing interest in its TotalAI LLM security product, are expected to drive future growth. With a positive outlook on its Federal market opportunities and an increased profit guidance for FY25, Qualys is well-positioned to capitalize on its foundational cybersecurity platform, justifying the Buy rating.
QLYS’s price has also changed moderately for the past six months – from $159.230 to $126.820, which is a -20.35% drop .