Piper Sandler lowered the firm’s price target on Qualys (QLYS) to $100 from $135 and keeps a Neutral rating on the shares. The firm notes that a $2M beat and $3M raise was a solid start to the year for Qualys, with growth remaining durable at 10% year-over-year. Management was upbeat relative to what the release of advanced LLMs could mean for prioritization of the space at large, alongside how this could influence upgrades to ETM over time. However, impact to the business in the near-term is limited for now, Piper argues.
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